News
UDA to lease out underutilised land
View(s):The Urban Development Authority’s underutilised Colombo city and suburban lands are to be identified and leased to the private sector. The UDA has already identified several lands, including a 110-perch land at Union Place, Colombo 2 close to the Access Tower, a car park located adjoining the Hemas building in Fort, around 100 perches adjoining the Police Hospital in Narahenpita and a one-acre land in Battaramulla. In Fort, the nine-acre Chalmers Granary land also is to be leased out.
UDA Chairman Dr Jagath Munasinghe said that at present, most of the lands were underutilised or used as car parks and, therefore, the Authority was looking at leasing out lands to obtain a higher income.
He said that in Union Place, the 117-perch land was leased out for Rs 1.1 billion which was higher than the estimated government value. The land is to be used for an apartment and office complex.