Cabinet approves land allocation for BOI housing project in Kelaniya

Friday, 19 July 2024 00:00 - - {{hitsCtrl.values.hits}}

The Sri Lanka Land Development Corporation will allocate an eight-acre plot of land in Vedamulla, Kelaniya, to H.M.K. Property Developers Ltd., for a Board of Investment (BOI) approved housing project.

The Cabinet of Ministers on Monday approved the proposal, which involves a portion of land measuring eight acres, two roods and 16.26 perches, based on the current assessment by the Chief Assessor of the Government.

Initially, approval was given at a Cabinet Sub Committee meeting on Investment Promotion to provide a 12-acre plot of land for the project. However, due to H.M.K. Property Developers Ltd.’s failure to comply with the relevant agreements, the land was not released.

Recently, H.M.K. Property Developers Ltd., made another request through the BOI of Sri Lanka to obtain the land for implementing a housing project in three stages.