UDA seals deals worth US$ 1b.
The Urban Development Authority (UDA) has sealed two deals with foreign investors to lease out state lands in Colombo and netted nearly US$ one billion with more talks underway to lease more lands, a top official said.
Urban Development State Ministry Secretary Sirinimal Perera had told the Sunday Times that a leading Indian private hospital had signed a Memorandum of Understanding (MOU) to obtain on lease five acres of land in Dematagoda for US$ 200 million. A hospital would be set up under the project.
He said that under a China-Dubai joint collaboration, the existing Summit Flat land in Colombo 5 Keppetipola Mawatha would be leased out, bringing in a revenue of US$ 755 million. The 10 acre land is to be made use for a 3,000 unit apartment complex.