From left: Essar Project UAE CEO Ramjee Ram Rajnandan, Managing Partner Riemersma Management Co. UAE Kier Riemersma, Megapolis and Western Development Minister Patali Champika Ranawaka, and Development Strategies and International Trade Minister Malik Samarawickrama at the ceremony yesterday – Pic by Chamila Karunarthne
- Land leased for 99 years for Rs. 1.4 billion to investors from UAE
- Rs. 30 billion mixed development project with office complexes, apartments and Light Rail Transport system
- Battaramulla to be gazetted as a separate Municipality to promote it as administrative capital
By Ruwandi Gamage
In the latest effort to upgrade Battaramulla as the administrative capital, the Ministry of Megapolis and Western Development yesterday launched a Rs. 30 billion mixed development project in the heart of the town.
The venture aims to integrate a multi-modal transport centre that plans to locate all major administrative functions in the capital with investment from Riemersma Management Company (RMC)’s Essar Project on a public-private partnership basis.
The project will initiate its plans in a 415-perch land plot, with the Koswatta to Kaduwela main road running behind it and the Battaramulla to Rajagiriya main road running in front. It proposes to build two towers with 35 storeys and 26 storeys, the first allocating a net space of 20,000 square metres for government and private offices, and the latter with 250 standard apartments and 100 hotel apartments.
The project will also be part of a Light Rail Transport (LRT) system which will run from Kaduwela to Fort. In addition, the apartments will be priced targeting the employees in the area. The entire project is expected to be completed within the next five years.
“This mix development project, which was launched as a public-private partnership project, is an important milestone project for our Ministry. This project proposes to locate all major administrative functions within municipalities of Kaduwela, Sri Jayawardenapura Kotte, Urban Council of Maharagama, and Pradeshiya Sabha of Kotikawatta-Mulleriyawa, and integrate these identified areas of the administrative capital, and gazette and declare it as separate Municipal Council in the future,” the Minister of Megapolis and Western Development Patali Champika Ranawaka stated at the launch.
The lease declaration for the land plot, which was leased to Essar Project for a 99-year lease for Rs. 1.4 billion, was handed to the investors at the launch by the dignitaries. Speaking at the launch, RMC’s Essar Project Managing Partner Kier Riemersma voiced their gratitude for the opportunity given to participate in the development of Sri Lanka and detailed the plans the project holds.
“The most important aspect of this project in our perspective is the job creation and the economic development. We have long looked at Sri Lanka as a strong area for foreign direct investment. This project is the first step in that process,” he stated.
Speaking to Daily FT, Riemersma said the time frame for this development will be three and a half years with 12 months of design and engineering, which will be followed by the construction cycle of two and a half years. He explained that they are the development manager of this development project.
“We oversee the entire project, which includes putting the investment consortium together, procuring the design team, the engineering team, the construction company, the hotel operator as well as sales, leasing, and management for the project,” he added.
The project declaration of investment for the lease was handed over by the Minister of Megapolis and Western Development to the investors at the ceremony.
The Minister of Development Strategies and International Trade Malik Samarawickrama, Ministry of Megapolis and Western Development Secretary Eng. Nihal Rupasinghe, Ministry of Megapolis and Western Development Administrative Cities Development Project Director Srimantha Fernando, and other Ministry officials were present at the event.