News

Colombo mega development projects : Cost yet to be finalised

The Urban Development Authority (UDA) is yet to finalise the total cost for the new mega development projects to be launched by the Authority in and around Colombo next year, The Sunday Morning learnt.

As per the Cabinet approval received last week for the acquisition of 39 plots of state land to the UDA, as an independent grant under Section 6 (1) of the State Lands Ordinance, and the acquisition of five plots of private land under the Land Acquisition Act, the UDA is initially planning to launch 48 new projects.

Speaking to The Sunday Morning, UDA Director General Prasad Ranaweera said the UDA has already identified the 48 new mega development projects in and around Colombo which are to be implemented next year, adding that it has received a large amount of land including in Kirimandala Mawatha and Racecourse.

“Forty-eight projects would be initially started on these already identified plots and later on would be expanded. We have completed the initial planning process for all these lands. The detailed design would be completed soon and the construction would be launched next year,” Ranaweera said.