Wednesday Jul 29, 2026
Wednesday Jul 29, 2026
Wednesday, 29 July 2026 00:25 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers has approved a proposal to lease five Presidential Residences on a long-term basis to private investors for tourism development.
The move is intended to reduce the financial burden of maintaining the underutilised State properties, whilst generating value from promoting tourism investment and economic activity.
The residences, located in Bentota, Kataragama, Mahiyanganaya, Embilipitiya, and Anuradhapura, feature high-end architectural designs, fully equipped facilities, and landscaped surroundings. Having traditionally been maintained for the official duties and personal recreation of the President, these Presidential Residences are not currently utilised by the incumbent President.
Addressing the weekly post-Cabinet media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said despite their limited use, the Government continues to incur significant costs for their maintenance, security, and upkeep under the Presidential Secretariat.
“Following recommendations by a committee appointed to identify economically productive uses for presidential bungalows, residences, and palaces, the Cabinet approved inviting proposals from suitable investors to develop the properties through tourism-related projects,” he added.
Dr. Jayatissa said the properties will be offered on a long-term lease basis, with investment proposals to be called from interested parties.
The proposal to this effect was submitted by President Anura Kumara Dissanayake in his capacity as the Finance, Planning and Economic Development Minister.
