Office buildings acquired near President’s House

The President's Square Project, a government plan to secure the area around the President's residence in Fort for security reasons is underway with several office buildings being seized.

Businesses in the area so far affected by this project are George Steuart & Company Limited, Carson Cumberbatch & Company Limited and Cargo Boat Development Company Limited amongst others. Property belonging to Carson Cumberbatch, located on Janadhipathi Mawatha will soon be acquired by the government as part of the project. "We have got the gazette notification," said Chandima Gunawardena, Director at Carson Cumberbatch. "Some tenants have been issued notice. We told the Colombo Stock Exchange (CSE) of the same status but we have no further information. Anything else that I could possibly tell you would be pure speculation."

S. Skandakumar, Chairman of George Steuart told The Sunday Times FT that the company is aware of the gazette notification that has been published. "We have been made to understand that it is in the interest of the president's security," he said adding that it is a very serious matter. "We are hoping to meet with His Excellency to try and explain to him the consequences of that decision." Skandakumar is confident that the President will come to a fair decision. "We have initiated the request (to meet with the President) so we will have to wait and see what happens." He said they have not been provided with any additional information regarding the project.

K.V. Dharmasiri, Director General of the Urban Development Authority, said they are reviewing the position and there is a plan in place but was unwilling to disclose any details as it may lead to complications. "There is an area we have identified for security and there are certain properties we need for security." He added that alternative space must be provided for the property which will be taken over but that no plan is in place yet.

Cargo Boat Development in a letter to the CSE said the President has declared the property belonging to the company as "urgently required for the President's Square Project" by "order published under the Urban Development Projects (Special provisions) Act No.2 of 1980 in the Gazette of the Democratic Socialist Republic of Sri Lanka."