Nepal Trust awarded Yeti Holdings prime Kalimati land also

Published On: December 28, 2019 07:51 AM NPT By: Republica  | @RepublicaNepal

Although a decision to lease Kalimati land to Thamserku was taken in February 2018, Nepal Trust has been silent about it to date.

KATHMANDU, Dec 28: Thamserku Trekking, one of the sister companies of Yeti Holdings, has been awarded another huge land plot, at Kalimati near Soaltee Hotel, for 30 years. As per a lease agreement with the Nepal Trust, the land will be used for a commercial building, it is learnt.

Officials at Nepal Trust disclosed this on Friday when they were asked for details about land leased out to Yeti Holdings. Trust officials had remained tight-lipped about land leases to Yeti Holdings until their decision to extend the lease period for Gokarna Forest Resort was exposed by media.

Apart from Gokarna Forest Resort, Yeti Holdings has secured a huge plot of land at the prime location of Durbarmarg, Kathmandu. The Trust had been silent about its decision to lease out land in Kalimati to Thamserku Trekking, which is owned by the family of the late Ang Tshering Sherpa.

Although a decision to lease Kalimati land to Thamserku was taken in February 2018, Nepal Trust has been silent about it till date. 

Gajendra Thakur, secretary at the Trust, said on Friday that the company will pay Rs 180 million to the Trust for using the land. “The housing design for the business complex to be built on the land will be as approved by Kathmandu Metropolitan City,” he said. 

The Trust disclosed its decision to lease out four ropani [1 ropani is 5,476 sq ft] at Kalimati to Yeti Holdings at a press conference held at its office. Previously, it was stated that Yeti Holdings had been awarded only Gokarna Forest Resort and Durbarmarg land.

The Oli government has been accused of misusing its power to lease out former royal family property to Yeti Holdings. The government had reshuffled the Trust board and revised the Trust Act to open the way for the Gokarna Forest Resort lease.

Going against the general practice, the Trust had extended the lease for Gokarna Forest Resort for another 25 years even before the existing lease expired.

The Trust was not commenting officially about the decision until Friday. 

Asked whether the decision was taken under political pressure, Trust secretary Thakur claimed that it was for the benefit of the country and the people. 

Thakur said the lease was extended to attract investment from the private sector and earn more profit from Trust properties. “The Trust will get at least Rs 4.32 billion from Gokarna Forest Resort during the extended lease period,” he said. 

Claiming that he was working in the interest of the country and people despite lack of laws for determining minimum lease value for such properties, Thakur informed that they are now leasing out other Trust properties registered in the name of the Trust in 10 different places in the country, including Kathmandu Plaza. 

“Now onward, we will lease out properties on the basis of competition,” said Thakur.

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