Saturday Nov 23, 2024
Saturday Nov 23, 2024
Tuesday, 17 September 2024 01:41 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers at their last meeting approved extending a 35.95-perch plot of land located on Perahera Mawatha, Colombo 3, to Global Leasing Ltd., for a mixed development project under a 99-year lease agreement.
The decision follows an open call for proposals from interested investors, with the Management Board of the Urban Development Authority (UDA) and the Cabinet-appointed Standing Negotiations Committee selecting Global Leasing Ltd. as the successful bidder.
“The allocation of this prime land owned by the UDA to Global Leasing Ltd., for a mixed development project is part of our broader strategy to enhance the urban landscape of Colombo and attract more investment,” Cabinet Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing on Saturday.
The proposal for the lease presented by the Urban Development and Housing Minister Prasanna Ranatunga was approved by the Cabinet of Ministers.
