Major upgrade around Galle Face in the offing

Friday, 26 November 2010 01:42 - - {{hitsCtrl.values.hits}}

Surrounding areas of Galle Face is to be developed with Luxury Hotels,High-rise residential commercial buildings and other amenities.The first project estimated to cost around U.S.$ 500 Million under this programme will be launched next week.

This was stated by the Secretary to the Ministry of Finance Dr.P.B.Jayasundera when he addressed a post-Budget Seminar organised by the Chartered Accountants Institute of Sri Lanka

He said that investment proposals from the private sector for these development activities are being received and steps have been taken to find suitable land for this construction work.

Dr. Jayasundera said that in line with this huge development programme, steps have been taken to declare the Presidential Secretariat Building, the Finance Ministry Building and the Galle Face Hotel Building as important places of National Heritage. He said that the Army Camp facing the Galle Face will be shifted to a new location.

Meanwhile, the seven member Committee tasked with approving investment proposals is reported to have given the green light for the proposal submitted by the Hong Kong based Shangri-La Conglomerate to build a luxury hotel, a commercial complex and a residential complex in Colombo. It is also reported that the Sathosa has also submitted a proposal to the Investment Approval Committee to build a luxury hotel in Colombo in joint partnership with a Private Firm. (News.lk)