Kollupitiya UDA Land Re-Tendered for Mixed Development

The government has decided to re-initiate the disposal process for a prime land parcel in Kollupitiya (Colombo 3), owned by the Urban Development Authority (UDA), for a mixed development project on a 99-year lease.

Background and New Plan:

• The Land: The plot is located on Perahera Mawatha and measures 2 roods and 23.1 perches.

• Reason for Re-tendering: Cabinet approval was initially given to an investor on September 13, 2024, but the lease was later recommended for cancellation after the investor failed to meet the required assignment conditions.

• New Scope: The UDA Board of Management approved recalling investment proposals on September 4, 2025. A special Cabinet-appointed committee further authorized calling for proposals for hotel or commercial development, with the provision that up to 50 percent of the land may be used for residential purposes.

• Final Approval: The Cabinet has approved the proposal to invite fresh investment proposals under the International Competitive Procurement Procedure, with the land to be disposed of on a 99-year lease based on the Government’s Chief Assessor’s valuation.

Source:

https://ceylontoday.lk/2025/12/12/kollupitiya-uda-land-re-tendered-for-mixed-development/