Govt. to provide commercially valuable lands in major cities to investors

22 July 2023 07:15 am - 11 - {{hitsCtrl.values.hits}}

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Gives ultimatum to investors who are currently working on projects on government-owned lands to restart projects

Arundika Fernando

Steps would be taken to provide commercially valuable lands located in major cities in the country to investors, as such a measure would contribute to the country’s economic growth, Urban Development and Housing State Minister Arundika Fernando said.

“There are properties with commercial worth in major cities, notably in Colombo. It has been decided to distribute them to new investors in a way that will strengthen the economy of the country,” Fernando said.

Fernando also said the investors, who are currently working on projects on government-owned lands in Colombo, have been given the final notice on resumption of the projects.

He emphasised that if these investors fail to take the necessary actions to complete the ongoing projects, the government would intervene and take over the projects. In such a scenario, the government will then allocate the projects to new investors, who are willing to carry them forward.

Fernando expressed these views yesterday during a press conference themed ‘Collective Path to a Stable Country’, held at the Presidential Media Centre.

“The government has given the opportunity to investors to start projects on commercially valuable land in Colombo. But due to the poor economic situation the country faced, these projects have been halted.

Therefore, we have informed them in writing to restart the relevant projects. If the investors do not take a decision before the end of next month, those projects will be taken over by the government and given to new investors,” he added.

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Comments - 11

Jude Saturday, 22 July 2023 07:54 AM

Valuable land on offer including Temple Trees, president's house etc.

Prof. J.K. Fernando Saturday, 22 July 2023 08:36 AM

Another Commission Puppa. All are waiting to earn quick money and settle down with their families in a European Country, he is not exemptional.

Do Doo Dooo Chin Saturday, 22 July 2023 08:38 AM

State Minister Arundika Fernando, are you coming out with this idea with a good intention or like Health Minister Kehliya Rambukwella to make Commission out of it?

T.K.D. Perera [Your good OLD forgotten FRIEND] Saturday, 22 July 2023 08:42 AM

Sir, you have more than 60 Acres Land at present is it not enough? You are planning to encroach more to your pocket - very bad show anyway. Believe me, I know your History as once upon a time, I was your close friend.

Dr. Roy Munasinghe Saturday, 22 July 2023 08:44 AM

You are trying to over-take the Health Minister. Yes, you can make big money in Dollars for you with your plans.

Arnold Saturday, 22 July 2023 08:52 AM

Wrong heading, it should read: Govt. to provide commercially valuable lands in major cities to cronies and political stooges.

Tak Tik Tuk Saturday, 22 July 2023 11:05 AM

Govt Politicians looking for more fat commissions

Ram Saturday, 22 July 2023 03:00 PM

Colombo the most valuable land around Galle face was given dirt cheap and now provide valuable lands in major cities to foreigners, at what commission?

Buddhist Saturday, 22 July 2023 05:28 PM

The thug-like action of this minister never ends. Who does he think he is? He should understand SL needs the support of foreign countries to come out of bankruptcy. In such a situation threats will only hurt SL. What he should have done is to discuss in a friendly manner. President's fault for appointing thugs as ministers.

Tissa Fernando Saturday, 22 July 2023 05:53 PM

Big money in the offering. Big fat guys can grab the land for peanuts and make windfall profits.

Gong Baas Sunday, 23 July 2023 01:57 PM

This man seem to act like another President taking decision on the lands of the country !

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Govt. to provide commercially valuable lands in major cities to investors

Comments - 11

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