USD 250 million mixed development project granted approval for apartment & shopping complex

News

Cabinet has approved a USD 250 million mixed development project by a foreign investor to build an apartment and shopping mall complex.

Co-Cabinet Spokesman Minister Bandula Gunawardena stated that the project will be built on a plot of land along Baladaksha Mawatha in Colombo.

The building will be 30 stories tall and have 700 luxury apartments in addition to shopping complexes. The project is due to be completed in six years.

Mr Gunawardena said the project was the largest foreign investment deal approved in the country this year.

(Reporting by Damith Wickremasekera)

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