December 13, 2017

Parkland rental fees in Yangon to be examined

The current rental fees of all parkland in Yangon should be re-examined, said U Htay Aung, a former committee member of Yangon City Development Committee (YCDC).
“Some parkland projects are under the Yangon City Development Committee (YCDC) and some are under the Department of Forestry. The parkland rentals are very low and should be examined over,” said U Htay Aung at the Press Conference at the M3 Restaurant on Monday.
To amend the parkland rental fees, respective  ministries and the rental companies should be work on negotiation, he added.
Parkland was renting at Ks25 per square foot to the Natural World Company under a 25-year terms.
“The buildings in the Mya Kyun Thar Garden, which were not in agreement with the contract, would be demolished and YCDC was drafting a master plan,” said Yangon Mayor U Maung Maung Soe at the regional parliament on 22 May.
The Mya Kyun Thar parkland was renting in 2013 at Ks25 per square foot to Magic Land Company, Rya Ja Company, Mandalay Golden Win Company, Nay La Pwint Company, Edin Company, Golden Shan Brother Company, Myanmar Golden Star Company and Max Myanmar Company under 60-year terms.
Among these companies, Edin, Golden Shan Brother, Myanmar Golden Star and Max Myanmar have not constructed any buildings to date.

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