Thursday Jan 08, 2026
Thursday Jan 08, 2026
Wednesday, 7 January 2026 05:22 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers at their first meeting for 2026 held on Monday approved calling for expressions of interest (EOIs) from investors to lease 24 identified bungalows and houses under a public-private partnership (PPP) model, aiming to ensure more productive and economically viable use of underutilised State assets.
The selected properties will be offered on a 30-year lease basis, with the Government noting that the process will be carried out without creating social concerns.
Addressing the weekly post-Cabinet media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the move follows recommendations made by an appointed Officers’ Committee tasked with identifying effective strategies to utilise former ministerial residences and other underutilised State-owned properties.
According to Jayatissa, the committee has proposed repurposing the bungalows and houses for embassies, international organisations, diplomatic missions, Government and Government-affiliated institutions, as well as high-end restaurants, boutique hotels and other productive investment ventures.
On 9 December 2024, the Cabinet of Ministers decided to appoint an Officers’ Committee, which called for a comprehensive review of properties previously used as ministerial quarters and other underutilised premises. The objective was to ensure their effective and economical utilisation while aligning with broader public interest and development goals.
“The EOI process is expected to help identify suitable investors and projects that can maximise returns from these assets, while supporting private sector participation and reducing the fiscal burden on the State,” he added.
