Global Leasing secures 99-year lease for mixed development project in Colombo

Tuesday, 17 September 2024 01:41 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers at their last meeting approved extending a 35.95-perch plot of land located on Perahera Mawatha, Colombo 3, to Global Leasing Ltd., for a mixed development project under a 99-year lease agreement.

The decision follows an open call for proposals from interested investors, with the Management Board of the Urban Development Authority (UDA) and the Cabinet-appointed Standing Negotiations Committee selecting Global Leasing Ltd. as the successful bidder.

“The allocation of this prime land owned by the UDA to Global Leasing Ltd., for a mixed development project is part of our broader strategy to enhance the urban landscape of Colombo and attract more investment,” Cabinet Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing on Saturday.

The proposal for the lease presented by the Urban Development and Housing Minister Prasanna Ranatunga was approved by the Cabinet of Ministers.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.