Urban Development

Summit Flat Land at Keppetipola Mawatha, Colombo 07

Colombo 07

LOCATION

10 Acres

Land Extent

USD 210 Mn

Minimum Investment

Project Overview

Constructed in 1976 for the 5th Summit Conference for the Head of State and Government of the non-aligned movements, the property consists of 175 summit houses. The property is divided into 3 plots; Plot A consists of a housing unit to relocate existing occupants, Plot B includes lodging houses and a few bungalows used by the Sri Lanka Police and Plot C consists of two bungalows.

The estimated investment value is USD 210 Mn and the project is to commence in 2022

  • Further attributes of this property would include;

    • The property is in close proximity to the port, educational facilities, cultural landmarks, financial centers, and major transportation facilities.  
    • Availability of water, electricity, sewer and wastewater lines, etc.

Project/ownership structure

PPP  /99 year Lease/ 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)