Cantonment Board Manora on Thursday announced that their beach has been auctioned off its beach to the Dreamworld Company for five years for the building of a resort.
The Dreamworld company was the highest bidder at the auction and will be paying the cantonment board Rs11,100,000/ year. A formal agreement to this effect will be signed within a month.
In August, the cantonment board had advertised that it was going to hold a mega auction for a Manora Beach Resort.
According to board officials, the agreement can be extended for a further five years if the performance is satisfactory and no complaints are received from the public or higher authorities.
The resort currently comprises a ground plus two-floor building along with four tuck shops near the Varun Dev Mandir. The open area around these buildings measures up to 1,562 square yards. This existing infrastructure will be handed over to Dreamworld for further renovation.
Dreamworld will also have to design and install interior and exterior decor at the place.
