The Government yesterday (25) launched a promotional campaign to develop 50 valuable properties throughout the country, including the Welikada and Bogambara Prison land, the Colombo Air Force Headquarters land under a public-private partnerships.
The Urban Development Authority’s Investment Opportunities 2022 promotion program aims to provide these lands for various mixed projects over a lease period of 99, 55, and 30 years, with an expected return of US $ 6 billion.
The foremost properties among these lands are the 40-acre land at Welikada Prison in Borella, the nine-acre Chamers Granary Land at Fort, the five-acre Air Force Land on Slave Islands, the seven-acre land owned by the Department of Agriculture at Narahenpita, and the three-acre land in Battaramulla Town Center and several other properties including the SLECC land at Wijewardena Mawatha.
Also, the five acre Visumpaya land at Union Place is listed as a luxury boutique hotel boutique hotel project for high end tourists, while the 37 acre land at Meethotamulla, the 13 acre Gregory Wewa land at Nuwara Eliya, the 12 acre seven acre land at Bogambara Prison and the seven acre land at Bogambara Prison Listed under the Services and Leisure Development category.
This project is considered to be the largest promotional development program in Sri Lanka so far and the government hopes to attract investors in a number of projects including real estate development, urban development, luxury apartments, tourism and entertainment.
Proposals to develop some of these projects as public-private partnership projects will also be considered.
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