The Urban Development Authority (UDA) is now seeking development proposals for five pieces of high-value land in the Colombo District.
The largest extent of land on offer is 1.3 hectares of land in Buthgamuwa, Rajagiriya, followed by the 1.09 hectares of Borella Bakery.
The authority is also seeking proposals for 0.18 hactares in Kadurugasthuduwa, Sri Jayawardenapura and 0.39 hectares in Kolonnawa, as well as proposals for the Central Cinema in Maradana.
Development of the Maradana property has been given priority status, along with four other sites including two sites along the Gangarama.
In total, the UDA has 42 properties that it is currently seeking investments. The authority, which now comes under the purview of the Ministry of Defence, is also engaged in an Urban Regeneration Project for the City of Colombo, phase one of which aims to complete the relocation of the city’s populations living in underserved settlements into 30,000 housing units within the next three years.