NEPAL TO LEASE OUT, RENT PROPERTIES OF ROYAL FAMILY

KATHMANDU Nepal has decided to lease out or rent land, a palace, and a bungalow owned by members of the royal family killed in a mass shooting by Prince Dipendra in June 2001 in order to generate revenues and boost tourism.

The Nepal Trust, established in 2007 and entrusted with tracing the movable and immovable properties of slain King Birendra Bir Bikram Shah and his family members, has called for tenders to lease or rent some prime properties owned by the royals.

In 2006, after the Communist Party of Nepal-Maoist joined the peace process, the government decided to nationalise all properties belonging to the royals by setting set up a dedicated office to manage and use these assets.

A palace and a bungalow located outside the Kathmandu Valley will be leased to private firms to attract tourists and generate revenues.

According to Bhim Prasad Uphadhyay, secretary in the office of the Nepal Trust, three prime properties in the heart of Kathmandu will soon be leased out for use as commercial complexes.

“The revenue coming from rented and leased properties will be used in education and health sectors,” he told Hindustan Times.

Four palaces - two in Pokhara and one each in Chitwan and Hetuda - will be opened to tourists soon, he added.

The Nepal Trust currently earns millions of rupees from a resort and a building in Kathmandu that were owned by the royals.