The local media reports that agreements have been drawn up to lease out two very valuable lands in the Colombo District to foreign investors.

The government’s expected revenue from the lease of these two lands is close to the US $ 1 billion.

The Urban Development Authority has made the necessary arrangements for this. Accordingly, a five-acre land in the Dematagoda area is to be leased to an Indian investor for US $ 200 million and a private hospital project is to be implemented there.

As a joint venture between China and Dubai, 10 acres will be leased for a housing project in Summit Flat, with expected revenue of US $ 750 million.

 According to the media, MoUs have been drawn up and forwarded to the Attorney General’s Department.

In addition, a Malaysian investor has submitted a project proposal to lease 1.5 acres of Colombo Fort to a Malaysian investor for a mixed project, valued at the US $ 125 million.

 D.R. Attention is currently being paid to lease a 1.5 acre land on Wijewardena Mawatha to a Chinese company for a hotel and housing project.

A Singaporean company is looking to invest in several lands in Katunayake and Galle while another company is looking to invest in several lands in Ja-Ela.