3 valuable lands in Colombo leased for 99 years

The Urban Development Authority (UDA) has invited investors to provide three more valuable lands in the city of Colombo for investment projects on a 99-year lease basis. The Authority has published advertisements for this on September 19, said the Director General of the Urban Development Authority, Prasad Ranaweera. Colombo DR for Mixed Development Projects Tenders have been called for allotment of 03 lands on Wijewardena Mawatha.

Accordingly, Colombo 10, D.R. at No. 12 Wijewardena Mawatha, People’s Bank Queen’s Branch No. 38 and No. It is proposed to provide 40 Sathosa storage complex for these projects. The Authority has estimated the base value of the land where the Sri Lanka Exhibition and Convention Center is located at Rs. 3.7 billion, the base value of the land where the People’s Bank branch is located at Rs. 1.3 billion and the base value of the land where the Sathosa warehouse complex is located at Rs. 1.6 billion.

Only one month has been given to submit proposals for projects implemented on these lands. Meanwhile, Selandiva Investment Projects has already proposed to provide a number of valuable properties in Colombo, including the Ministry of External Affairs Building, the Hilton and the Grand Orient Hotel, for investment projects.

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