“Two years ago, in the village, it was only a bit more than 200,000 kyat for a house plot of 40 x 100 ft., but now, it is more than 10 million kyat per house plot,” said U Aung Yin Oo, who provides services for selling house plots in Kabyarwa Village.
U Aung Yin Oo continued that previously, land located in the area surrounding the village was 3 million kyat per acre, and has now risen to 12 million kyat per acre, noting that last February businessmen from Moulmein and Rangoon came to the area to purchase land.
“Five years ago, the price per house plot was between 10,000 – 90,000 kyat. We would not take it even if given for free. But now, the bridge is already built and the resort will be built soon, so the price has risen to 10 million kyat,” said U Nyunt of Yin-yel Village, which neighbors Kabyarwa Village.
Aurum Co., Ltd has entered into an agreement with the Mon State government to construct a resort along 8-miles of Kabyarwa beach; the company plans to implement the 12 million USD project throughout the 2015 year.
According to Aurum Co., Ltd managing director U Htay Twin, the company is facing problems in proceeding with the project because businessmen have bought the land on which the project is to be constructed from local people at high prices.
U Htay Twin continued that, concerned with the high price of land, the company will negotiate with authorities from state and township government, as well as local residents.
In a statement released by Aurum Company, the beach resort project, which includes a hotel zone and tourism, will include 120 high standard hotel rooms, bungalows, guest rooms, a dining room, a swimming pool, a hotel office, rooms for staff and parking lots.
Obtaining permission from the Mon State government, the Aurum Company conducted a survey on the project site in April 2014, and subsequently submitted a report to the state government in July 2014, while also meeting with respective state government ministers.
The Aurum Company also has long-term plans to invite both domestic and international investors in order to build high-standard buildings, establish tourism projects, environmental research projects, and a green factory, while also providing development for local people’s culture and language.
