President's Square project suspended

Top business houses near the President's residence in Fort are breathing a sigh of relief following a presidential decision not to go ahead with a plan to acquire their buildings for security reasons. The Sunday Times FT learns that the plan has been suspended and the acquisition order that went to companies like Carsons, George Steuart and Cargo Boat Despatch is expected to be revoked. This follows the glare of publicity over the President's Square Project in last Sunday’s newspapers including our newspaper. The Sunday Times FT last week reported that many companies in the area opposite the presidential enclave would have to relocate. Seen here is Upper Chatham Street where most of the businesses would have been relocated under that plan. Pic by J. Weerasekera. (CD)