Wednesday Apr 29, 2026
Wednesday Apr 29, 2026
Wednesday, 29 April 2026 00:25 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers on Monday approved calling for investment proposals from parties interested in developing a designated land parcel into a hub for Sri Lankan technologists to create intellectual, technology-driven products and services for the local market.
The decision follows a Cabinet meeting held on 28 April 2025, at which a special committee was appointed to identify the most suitable underutilised lands owned by the Urban Development Authority (UDA). Based on its recommendations, the Government will proceed with inviting proposals for a mixed development project centred on information technology–driven innovation.
The proposed site, located on Maradana Road in Colombo 10, spans around 1 acre, 1 rood, and 12.4 perches. The project is expected to position the location as a dedicated innovation hub, fostering local talent, supporting the growth of Sri Lanka’s digital economy, and encouraging the development of home-grown technological solutions tailored to domestic market needs.
