Saturday May 16, 2026
Saturday May 16, 2026
Wednesday, 13 May 2026 10:56 - - {{hitsCtrl.values.hits}}
As part of efforts to unlock the commercial value of underutilised urban land, the Cabinet of Ministers on Monday approved plans to lease a prime State-owned land parcel in Kottawa for 99-years to a private investor for a mixed-use development project.
The land, measuring just over one acre, is located in the heart of Kottawa town along the High Level Road, within the limits of the Maharagama Urban Council in the Colombo District.
The property had previously been transferred to the Urban Development Authority (UDA) as a free-grant under Section 6(1) of the Government Lands Ordinance.
A Cabinet-appointed Special Committee tasked with identifying commercially viable uses for idle UDA-owned properties had recommended that the site be developed as a mixed development project, given its strategic location and commercial potential.
Based on that recommendation, the Cabinet of Ministers approved the proposal submitted by Transport, Highways and Urban Development Minister Bimal Rathnayake to call for investment proposals under Government procurement guidelines.
