The government has decided to call for open investment proposals in the upcoming week for 16 massive minister bungalows located in Colombo. According to a senior official from the Ministry of Finance, the Cabinet has already granted approval for this initiative.
A total of 25 minister bungalows in Colombo have remained closed for more than two years. Under the new initiative, the government plans to allocate 16 of these properties for economically productive projects.
The remaining nine bungalows will be utilized for housing, foreign embassies, and other official offices under a rental facility. The Ministry of Finance noted that certain bungalows are situated in areas that are not suitable for commercial investment projects, prompting the decision to repurpose them as residential spaces or diplomatic missions instead.
