Could anyone explain me this sentence?
An alternative adopted froma widely used practice within Myanmar, is to use an unincorporated joint venture under which a local land right holder gives a foreign investor (who sets up a Myanmar-registered company) the right to build a construction and
rent or sell units in return for the use of the land right.

What i don't understand is..."and rent or sell units in return for the use of the land right."
Thank you

Question

Could anyone explain me this sentence?
An alternative adopted froma widely used practice within Myanmar, is to use an unincorporated joint venture under which a local land right holder gives a foreign investor (who sets up a Myanmar-registered company) the right to build a construction and
rent or sell units in return for the use of the land right.

What i don't understand is..."and rent or sell units in return for the use of the land right."
Thank you

Answer

I am not familiar with Myanmar, and there seems to be missing words and/or spelling errors, but I think it just simply means that:

A Myanmar landowner (government or individual person), decides to rent or sell the land to foreign construction companies for money. The construction company then builds houses/apartments and is allowed to rent or sell those "units" to people interested in buying them.

I might be wrong, but that's what I think it means

Answers · 2

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