Urban Development

Land at Meethotamulla, Kolonnawa

Kolonnawa

LOCATION

37 Acres

Land Extent

USD 80 Mn

Minimum Investment

Project Overview

Located within commercial city limits of Colombo, the property is proposed for an urban recreational park and three mixed development projects. Primary focus would be to manage environmental hazards through leachate and gas management, minimize the geotechnical risk involved in the waste mound, create attractive recreational spaces from 10 -15 acres of land, optimize site connectivity, implementation of the recreational park and mixed development.

The estimated investment value is USD 80  Mn. The project is expected to commence in 2022

  • Further attributes of this property would include;

    • Main access to the property would be from Orugodawatta to the Ambathale Road. Location is close proximity to educational facilities, cultural landmarks, financial centers, and major transportation facilities.  
    • Availability of water, electricity, sewer and wastewater lines, etc.

Project/ownership structure

30-50 Year Annual Lease /PPP Model/ JV

Project incentives:

Government Tax Concessions
Speedy approval process with the assistance of the UDA
Readily available basic infrastructure to the site
Government assured land tenure security

Strategic location

Situated at the core of the CBD the property has extensive development opportunities to cater to high tourist demand-based activities around the Beira Lake and in close proximity to Port City, in addition to the Port.

(Presently occupied by Peoples Bank Training Centre)