Kathmandu, July 27

The Office of the Nepal Trust has been given the green signal to conserve and offer for rent the former monarch’s land property, houses and villas.

The trust established nine years ago has finally prepared its regulation, paving the way renting out the former monarch’s assets. The trust had not been able to offer for rent the former monarch’s assets in absence of a regulation.

Trust Secretary Bhim Upadhyaya said the trust had transferred ownership of 25,600 ropanis of former king Birendra Shah’s land in its name. The trust has also opened seven palaces in various locations to the public.

“The enactment of the regulation has paved the way for the trust to generate income by renting the former royal family’s assets,” said Upadhyaya. The trust will run educational, academic and health campaigns from the income generated by renting out former king’s properties.

The trust has proposed construction of 25 well-equipped buildings on land belonging to former royal family to accommodate VVIPs during their Nepal tour.

“We will begin constructing the proposed buildings after the proposal is passed,” Upadhyay said. The trust had floated this proposal at the 39th board meeting of the trust on July 15 in the presence of outgoing Prime Minister KP Sharma Oli.