Govt. restarts stalled $ 100 m Destiny project

• First step in Govt. program to complete all delayed construction projects 
• 300-apartment mixed development project to be completed by Dec. 
• Construction transferred to MAGA and full twin towers to be finished in two years 
• UDA Ministry Secy says will work to develop construction industry  

As part of its effort to fast track incomplete projects the Government yesterday restarted a $ 100 million mixed development project titled ‘Destiny’, which aims to see 300 apartments completed by the year end.  

Speaking at the event Urban Development and Housing Ministry Secretary Sirinimal Perera said that that Sri Lanka’s construction industry had failed to thrive under the previous Government and when this administration came into power there were many incomplete projects that investors were desperate to see finished. 

He was therefore specially appointed by President Gotabaya Rajapaksa to evaluate the projects and complete them in the fastest time possible. As part of this program, the first building selected was the Destiny mixed development project that was started with Pakistani investment in 2012 near the Slave Island train station. In the initial project Destiny was to have two towers of 876 apartments, according to the Ministry, however despite about 500 apartments being pre-sold the investment stalled after 2014. 

“There have been many complaints from different quarters about these projects and we are working to complete them and restore confidence in the industry. We also want to benefit construction companies and assist them to complete their work on schedule,” Perera said at the ceremony held to restart work yesterday. 

The land was given for the project by the Urban Development Authority (UDA) and a new agreement was signed between Imperial Builders and MAGA Engineering to complete the project in its entirety within two years. The first stage of 300 apartments in Destiny tower I is expected to be completed by December.