Steps will be taken to provide commercially valuable lands located in major cities in the country to investors so as to contribute to the economy, State Minister of Urban Development and Housing Arundika Fernando said.
Also, the Minister pointed out that the final notice has been given to the investors related to the resumption of the projects being carried out on the lands owned by the government in Colombo, and stated that if the investors do not take steps to complete the projects, they will be taken over by the government and given to new investors.
He expressed these views during a press conference themed ‘Collective Path to a Stable Country’ held at the Presidential Media Centre (PMC).

Minister of Urban Development and Housing Arundika Fernando further commented;
So far, the government has given the opportunity to investors to start projects on commercially valuable land in Colombo. But due to the poor economic situation the country faced, these projects have been halted. Therefore, we have informed them in writing to restart the relevant projects. If the investors do not take a decision before the end of next month, those projects will be taken over by the government and given to new investors.

There are also properties with commercial worth in major cities, notably Colombo. It has been decided to distribute them to new investors in a way that will strengthen the economy of the country. Since taking office as President, Ranil Wickremesinghe has made a number of decisions that are in the best interests of the nation. As a result, the actions were made in an effort to boost the nation’s economy even more.

Currently, Hilton Hotel is a lucrative business. As a result, it has been agreed to safeguard employee rights as well as the Hilton hotel chain’s conventions and improve it in order to boost the country’s economy. Along with this, steps are being taken to transfer ownership of the Battaramulla-based Waters Edge Hotel to new investors. Additionally, a committee has been established by President Ranil Wickremesinghe to examine how these new initiatives would be carried out.

24 coastal regions have also been designated as tourist destinations. It has also been decided to grant investors access to these tourist destinations so they can boost the national economy. New investors will be awarded temporary construction rights to those coastal zones. These zones must be formed with tourist-drawing beach activities, as in other countries.

In addition, on the advice of President Ranil Wickremesinghe, steps have already been taken to develop Colombo, Ella, Nuwara Eliya, Kandy and Trincomalee as favorable tourist attraction areas. Some projects are being implemented with the assistance of the Asian Development Bank under the intervention of government agencies including the Urban Development Authority.

Meanwhile, the construction of the Aruwakkalu Scientific Sanitary Garbage Dump under the Colombo Solid Waste Management project is scheduled to be handed over to the public by the end of January next year.