Sri Lanka is extending opportunities to investors by offering land in Colombo for the development of a high-rise mixed-use project and land near Gregory Lake in Nuwara Eliya for recreational activities targeted at attracting foreign tourists, according to Minister Nalinda Jayatissa.
The Urban Development Authority is making available a 0.42-hectare plot on Baladaksha Mawatha, Colombo 3. This land is set to be leased on a 99-year long-term basis to potential investors interested in a high-rise mixed development project, as stated by Jayatissa. The cabinet has given the green light for inviting investment proposals through an international competitive bidding process.
This decision follows recommendations from a committee appointed by the cabinet to examine under-utilized land within the country. The committee has advised utilizing the land located within the Mixed Development Zone of the Beira Lake, in accordance with the Beira Lake development regulatory plan.
Additionally, the cabinet has approved a proposal to seek suitable investors to lease land adjacent to Gregory Lake on Badulla Road, Nuwara Eliya. This Urban Development Authority land is intended for a project focused on recreational activities aimed at attracting foreign tourists, as explained by Jayatissa to reporters. The land, measuring 10 acres, 3 roods, and 28.04 perches, will be leased to an appropriate investor on a 50-year basis.
(Colombo/Jan27/2026)
