45 state properties to be leased to local, foreign investors
Mr. Sirinimal Perera speaking at the forum. Pic by Eshan Fernando
The Urban Development Authority (UDA) is set to release 45 properties and lands worth US$ 6 billion in Sri Lanka to local and foreign investors beginning next year. Potential investors could lease the properties up to 99 years.
This announcement was made at the UDA Investment forum held at the Water’s Edge in Colombo on Thursday.
The properties are categorised under nine clusters namely high-rise mixed development, middle-rise mixed development, IT base development, Beira Lake WaterFront Development, hospitality and leisure development, residential tower development, office tower development, logistic hub development and multi storey car park cum mixed development.
The properties and lands include Trace City (Tripoli) at Maradana, Welikada Prison, Air Force in Slave Island, Galle Town Centre in Galle, Dematagoda, Battaramulla Town Centre, Agriculture Department at Narahenpita, SLECC, CW Mackie, People’s Bank Training Centre site and many more.
During the Investment Forum, State Minister of Urban Development Waste Disposal and Community Cleanliness, Nalaka Godahewa spoke about the infrastructure development, foreign investments and economic activities done by the government before 2015. He said, “Our ministry has access to a lot of land and properties that can be used for development purposes. We have access to not only properties belonging to our ministry but also other ministries as well. We are looking for potential local and foreign investors for these properties and for development purposes.”
Central Bank Governor, Ajith Nivard Cabraal in his keynote address stated, “The biggest obstacle we have now is managing the debt and it’s a tough environment in the country. Foreign debt is tough for us to handle. Our exposure to foreign bonds is only US$5 billion.”
“Monetise government assets that are not touched. Possible contenders could meet with the need to invest. Unutilised assets must be exposed for potential investors where we are promoting the growth and sustainability of the nation,” Secretary to the State Minister of Urban Development Sirinimal Perera stated.
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!