According to Tika Ram Ghimire, spokesperson at Nepal Trust Office, the government renewed the contract with Subir Brothers Private Limited (SBPL), in its capacity of first party. [break]
SBPL, owned by Singapore nationals, had first reached a 30-year contract with the former royals in 1995 to run a resort in the Gokarna forest area. The contract allows SBPL to construct 100 cottages in the area spread over 2,800 ropani.
Ghimire said that they have left all provisions in the contract unchanged. “Nepal Trust Office signed the contract with Subir Brothers in its capacity of first party,” he said. The contract will be valid till 2025 in accordance with the previous contract.
The Nepal Trust Office is a government entity instituted to find and manage nationalized properties belonging to the late King Birendra and members of his family. The Office instituted after the success of the democratic uprising in April, 2006 has been entrusted with managing 12 former royal palaces and five jungle areas, among other properties.
All members of King Birendra´s immediate family were massacred on June 1, 2001. The transitional eight-party government in August 2007 decided to nationalize property belonging to King Birendra and property inherited by then King Gyanendra by virtue of becoming the monarch.
According to Ghimire, the Trust Office also renewed contracts for three buildings that the former royals gave out on lease. These include contracts relating to Kathmandu Plaza at Kamaladi and two other buildings located at Kalimati and Lazimpat.
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