Sri Lanka Seeks Investors for Ambitious ‘Frolic Island’ Development Near Waters’ Edge

Jan 27, 2026 2:00 PM

by

Sienna De Silva

Sri Lanka is actively seeking investors to develop 13.57 acres of land near the Waters’ Edge hotel in Battaramulla into a “Frolic Island,” according to Minister Nalinda Jayatissa. The cabinet has approved a proposal to invite expressions of interest for the development of nine plots of land located on both sides of Diyawanna Oya, intended for public recreational projects.

Minister Jayatissa stated that these plots will be offered to investors under long-term lease agreements. The Urban Development Authority is spearheading the “Frolic Island Recreational Hub” as part of the Kaduwela City Development Plan slated for 2024.

The project involves nine plots, encompassing a total area of 13.57 acres. The Cabinet has given the green light to solicit investment proposals, with the aim of allocating these plots to suitable investors on a lease basis.

(Colombo/Jan27/2026)

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