Key urban lands on long-term lease for investment projects get Cabinet nod

Wednesday, 9 April 2025 00:24 - - {{hitsCtrl.values.hits}}

Approves to dispose three parcels of land in Sellakatharagama for 50-years and over three-acres land in Dematagoda for 99-years
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa says lands are intended to support mixed development projects
Acknowledges NPP criticised such long-term lease arrangements only due to lack of transparency in past deals
States nobody should worry about 33, 55 or 99-year lease agreements as long as they are done transparently, bring right investments and projects

The Cabinet of Ministers on Monday approved the disposal of several State-owned lands on long-term leases, paving the way for new mixed development projects under the Urban Development Authority (UDA).

The move is expected to attract suitable investors through a transparent procurement process based on Government Appraiser valuations and UDA planning regulations.

The approved leases include; 1) three parcels of land in Sellakatharagama measuring 42.03, 20.28, and 20.72 perches respectively, earmarked for urban development disposed on a 50-year lease basis after allocating portions required for ongoing development activities and 2) three-acre, two-rood, 24.59-perch portion of land in Dematagoda (537 Watta), which will be leased out on a 99-year basis.

“All the lands were assigned to the UDA under Section 6(1) of the Government Land Ordinance, and investor selection will follow the proper procurement procedures, as previously stipulated by Cabinet,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said during the post-Cabinet briefing yesterday.

Responding to questions he noted that these lands are intended to support mixed development projects, aligning with national urban transformation goals and contributing to economic development.

He also acknowledged that while the National People’s Power (NPP) had previously criticised such lease arrangements, the criticism was directed at the lack of transparency in past deals.

“Now under the NPP-led Government, we are implementing these leases through proper procedures. Nobody should worry about long-term agreements of 33, 55 or 99 years, as long as they are done transparently and bring the right investments and projects for the overall development of the country,” Dr. Jayatissa explained.

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