The land, measuring 1 acre, 1 rood and 19.40 perches, is situated facing the High-Level Main Road within the limits of the Maharagama Urban Council in the Colombo District. It has been vested in the UDA as a gratuitous grant under Section 6(1) of the State Lands Ordinance.
A special committee appointed by the Cabinet of Ministers to identify suitable development options for underutilized lands owned by the UDA has recommended that the property be developed as a mixed-use development project, given its strategic location in a rapidly urbanizing area.
Acting on this recommendation, the Cabinet of Ministers has approved a proposal submitted by the Minister of Transport, Highways and Urban Development to invite investment proposals in line with Government Procurement Guidelines.
Under the approved plan, the land will be alienated to a suitable investor on a long-term lease basis for 99 years. The selected investor will be responsible for implementing the mixed development project aimed at maximizing the commercial and urban development potential of the site.
The initiative is expected to attract private sector participation and contribute to enhancing urban infrastructure and economic activity in Kottawa town.
