Cabinet approval has been granted to call investment proposals for the plot of land identified as Charmers Granaries, located at Olcott Mawatha in Colombo Fort, belonging to the Urban Development Authority (UDA) and to lease it on a 99-year basis.
The Charmers Granaries, located at Olcott Mawatha in Colombo Fort, with an extent of 09 acres and belonging to the UDA, is situated within the Integrated Mixed Development Zone of the Development Plan prepared for the Colombo Municipal Council Area for the period 2022-2031.
It has been identified that this land is suitable for disposal on a lease basis for the implementation of financially, environmentally, and socially high-potential mixed development projects, including residential, health, office and industrial, commercial, educational, customer service centres, tourism, recreational, and other activities.
Accordingly, the Cabinet of Ministers has approved the proposal presented by the Minister of Urban Development, Construction, and Housing to call for investment proposals from interested investors to lease this land on a 99-year basis based on the current valuation of the Government Chief Assessor. (Newswire)
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