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Govt. to buy landmark SCB building
View(s):The Government is to take over a historic landmark in Colombo — the Standard Chartered Bank building overlooking the President’s House.
President Mahinda Rajapaksa told the ministers recently the building was being occupied by staff of the Presidential Secretariat and Presidential Security Division (PSD) personnel. Since 2006 it had been on rent to the President’s Office. He said the owner of the building had advertised on an internet site for the sale of the building for Rs 1139.77 million. However, he has pointed out that the 84,277 square-foot building on 82 perches was worth Rs 1 billion.
It is likely that compensation will be paid at the Government Valuer’s estimation. The property at 17 Janadipathi Mawatha is owned by the Standard Chartered Bank.
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