The recent completion of a business tower, Damak View Tower valued at over Rs 2 billion in Damak by the government has raised doubts about its viability, with reports indicating a lack of interest from potential commercial tenants. The 18-storey tower, constructed under the leadership of CPN-UML chairman and former Prime Minister KP Sharma Oli, awaits inauguration amid uncertainties about its future utilization.
Maniram Gelal, Secretary of the Ministry of Urban Development, confirmed the tower’s completion, which was built to accommodate commercial activities, with the top two floors designated for sightseeing purposes. Despite its infrastructure being designed for commercial purposes, there have been no formal expressions of interest from any parties regarding leasing any of its floors.
Sudeep Poudel, the project manager of Urban Development and Building Construction, highlighted the absence of formal initiatives for floor reservations, despite receiving informal proposals. Currently, the tower primarily serves as a spot for outdoor photo opportunities, with minimal indoor foot traffic.
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Situated approximately 6 km west of Damak Bazaar, concerns have emerged about the operational costs associated with running businesses within the tower. An official from the Urban Development and Construction Department pointed out the challenges of operating enterprises away from the established market hub, indicating limited profitability prospects for potential tenants.
“The present challenge lies in transforming the View Tower into a functional business center, and someone needs to step up and assume responsibility.” – Regina Bhattarai, the Deputy Head of Damak Municipality
Initiated as a project of national significance for Nepal, the construction of the Damak View Tower commenced on June 27, 2076, in Dhukurpani village, located three kilometers from Damak Bazaar. The construction contract was awarded to the Chinese company CGIEC and Ashish Om Sairam JV through a partnership agreement, with the goal of completing the project within 30 months. However, according to the Intensive Urban Development and Building Construction Project, the construction timeline has been extended by one and a half years due to the impact of two waves of the Covid-19 pandemic, interruptions in construction work, and budgetary constraints.
