The government has claimed 120 plots in the diplomatic zone in Nay Pyi Taw to be reserved for embassies, according to Nay Pyi Taw Development Committee.
Bangladesh, Malaysia and Brunei have signed agreements while 17 other countries including China, the US and India have proposed 27 plots.
Min Thu, member of the committee, told the Daily Eleven on May 29 that a plot had 5.74 acres and one acre was priced at US$300,000.
"We have reclaimed 120 plots in the diplomatic zone. One plot has 5.74 acres. For three plots, agreements have been signed with Bangladesh, Malaysia and Brunei. Brunei exchanged the land for the Myanmar embassy in its country," said Min Thu. "The 27 proposed plots are for 27 countries including the United Nations and the World Bank. China, the US and Quarter will be signing their agreements. Other countries include Russia, Saudi Arabia, India, the Philippines, Kuwait, Indonesia and Turkey."
He mentioned no exact date for had been released but the Foreign Affairs Ministry would cooperate with Nay Pyi Taw Development Committee to expedite embassy movements.
State Counsellor and Union Foreign Affairs Minister Aung San Suu Kyi said policies have been adopted for the movement of foreign embassies from Yangon to Nay Pyi Taw, the administrative capital of Myanmar.
Nay Pyi Taw diplomatic zone is located on 1,550 acres of land, formerly a forest reserve, in Dhakkhinathiri Township. Infrastructures such as roads, ditches and water and power supply facilities have been built there.