October 20, 2017

MCDC to lease its land, buildings through tender system

Mandalay City Development Committee has decided to lease its land and buildings to private firms through tender system to assist in the city’s development.
Mandalay City Development Committee has decided to lease its land and buildings to private firms through tender system to assist in the city’s development.

THE Mandalay City Development Committee will begin to lease its land plots and buildings using the tender system from the beginning of the next fiscal year.
Buildings which have been contracted with the BOT system, however, will not be included.
“The BOT system permits the leasing only of land plots. We couldn’t invite a tender for such kinds of plots because they have constructed buildings on it. But if the government projects are coming to exist or not yet off the ground, an invested company will have to move within three months”, an official said.
In the 2015-2016 fiscal year the MCDC raised around K7.9 million from leasing the land plots of the Sinphyu Kan grounds and earned K30 million from leasing a land plot to Hotel Mandalay.

 

 

 

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