News
Summit flats to be razed to the ground
Cabinet approval has been sought to pull down the almost half a century old Summit flats in Keppetipola Mawatha, Colombo 7 and make use of the land to put up an apartment complex for 500 staff officers and offer 10 acres of the land for a mixed development project.
The entire land is around 14 acres and two acres are to be used to put up the apartment complex and about one and half acres for common amenities including a playground.
Urban Development Authority (UDA) Director General Prasad Ranaweera told the Sunday Times that for the construction of the apartment complex the Governemnt would allocate Rs 12 billion.
He said the rest of the 10 acres would be offered for a mixed development project under a Public Private Partnership (PPP) arrangment.
He said the existing buildings were nearly 50 years old and needed to be replaced soon.
The construction of the new apartment complex is to be completed within three years.