The Cabinet of Ministers has approved a proposal to select suitable investors in the disposal of long-term leases for land development projects under the Urban Development Authority (UDA).
The decision supports a previously approved policy requiring transparent selection of investors through proper procurement processes when leasing UDA lands for developing projects.
Under the approved plan, the following land portions will be leased based on valuations provided by the Government Appraiser and in compliance with UDA planning regulations:
• To dispose of 42.03 perches, 20.28 perches, and 20.72 perches, 03 portions of land under a 50-year long-term lease basis that could be disposed of after allocation of required lands for the proposed urban development out of the lands acquired for the Sellakatharagama urban development activities.
• To dispose of 03 acres—2 roods—24.59 perches in extent from the land Dematagoda (537 watta) for 99 years. (Newswire)