News
IT park coming up in former Tripoli market
View(s):The one time Tripoli market in Pettah, Colombo is to be converted into an Information Technology (IT) park attracting a range of IT related companies, under an Urban Development Authority (UDA) project, a senior official said.
UDA Urban Regeneration Project head E.A.C. Priyashantha told the Sunday Times that the project known as ‘iRACE’ had already commenced and was due to be completed in a year’s time. A 10 acre block of land will be made use of for the project where three separate buildings, each of them costing Rs. 450 million will be constructed and rented out to IT related firms.
He said the idea was to have an IT centre in the heart of the capital city similar to that in other developed countries. Meanwhile 17 more acres which were also part of the Tripoli market is to be made use for a mixed development project which includes business centres, residential units, shopping and retail outlets.