Land prices rise as Mount Zwekabin starts cable car project

Land prices rise as Mount Zwekabin starts cable car project

Published on Friday, 11 October 2013 17:06

Land prices near Kayin State's famous Mount Zwekabin have risen sharply due to the cable car project, according to the transport minister for the Kayin State government.

"The cable car project has only just begun, but land prices have already gone up. A piece of land worth Ks 1 million before will be worth millions of kyats now," said Saw Khin Maung Myint.

Min Lwin, who went to investigate land prices near the mountain area, said land prices have doubled around the foot of Mount Zwekabin.

As the first cable car project in Myanmar, Mount Zwekabin's will provide easier transportation for pilgrims visiting the Shwesandaw Pagoda, located at the peak of the 700-metre high mountain. The project will also aid regional development of Kayin State, as new transportation, infrastructure, and hotels will be built in the area in connection with the project.

"Land prices are over Ks 15 million. This is only the unfixed price. After the project has been completed, there will be development in regional tourism and trade. We plan to hold fundraisers for this project to succeed," said Aung Maunn, secretary of the organizing committee.

The project's estimated cost is US$20 million (Ks 19.4 billion). It is expected to be completed in 2015.

http://www.information.myanmaronlinecentre.com/land-prices-rise-as-mount-zwekabin-starts-cable-car-project/