Three more lands in Colombo to be leased for 99 years
Posted on September 20th, 2021

Courtesy NewsIn.Asia

Colombo, Sept 20 (News 1st) – Newspaper advertisements published in newspapers to lease three more valuable plots of land in the city of Colombo for investment projects on a 99-year lease basis.

The advertisement was published by the Urban Development Authority.

Tenders have been called for three plots of land on DR Wijewardena Mawatha in Colombo for mixed development projects.

The following three sites are to be leased, as per the advertisement :

– Sri Lanka Exhibition and Convention Center

– People’s Bank Queens Branch

– Sathosa Warehouse Complex

The base value of the land where the Sri Lanka Exhibition and Convention Center is located is Rs. 3.7 billion.

The base value of the land where the People’s Bank Queens Branch is located is Rs. 1.3 billion and the base value of the land where the Sathosa Warehouse Complex is located is Rs. 1.6 billion.

A special feature is investors are only given month to submit proposals for projects implemented on these lands.

Meanwhile, proposals have already been made to provide a number of valuable properties in the city of Colombo, including the Ministry of Foreign Affairs building, the Hilton and the Grand Orient Hotel, for investment projects through Selandiva Investments.

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