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12 April 2024

Five high value lands for sale in Colombo

By Correspondent

Proposals are now sought after by the Urban Development Authority (UDA) for highly valued five pieces of land in the Colombo District in Sri Lanka.

The Daily Mirror reported that the 1.3 hectares of land in Buthgamuwa, Rajagiriya is the largest of the lands followed by 1.09 hectares of Borella Bakery.

Around 0.18 hectares in Kadurugasthuduwa, Sri Jayawardenepura and 0.39 hectares in Kolonnawa as well as the Central Cinema in Maradana were the other lands for which proposals are sought by the UDA.

Priority status has been given for the development of the Maradana property along with four other sites including two sites along the Gangarama close to Beira Lake.

The UDA, which comes under the purview of the Ministry of Defence, currently seeks investments for 42 properties in total.

It is also engaged in an Urban Regeneration Project for the City of Colombo.

Under the phase one, it aims within the next three years, to complete the relocation of the city’s populations living in underserved settlements into 30,000 housing units.


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