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$500 Million Mega Project To Acquire In Srilanka For Sale

Colombo 4, Sri Lanka
Freehold Price:
On request
Lease Asking Price:
On request (USD)
Sales Revenue:
Not applicable
Cash Flow:
Not applicable

$ 500 Million worth project in the Capital City of Sri Lanka available for foreign participation. The interested party may contact me for for further updated. Those who have previous experience and the capacity of handling the above type mejor construction have the opportunity. To enter in to agreement with Sri Lankan Government may apply.The proposal made by Housing and Construction Ministry The tripartite agreement also lays the condition that the investor should remit USD 10 million within 4-6 weeks after the signing of the agreement in order to be granted approval for the project.
In 2014, a plan was proposed to redevelop the ten acre of land on which Bambalapitiya flats now stand to build six towers of 36 storeys each. It would have a total of 3,762 residential apartments along with shops, offices and hotels. The residents of the current flats would be given 285 apartments and 12 shops. There are 300 housing units at the current flats and the residents have been asked to vacate their flats and find other accommodation until the new flats are given.They would be given a monthly payment as rent assistance. In turn will receive the land on a 99-year lease basis. In November of last year however, Under Megapolis and Western Province Development observation stating that the financial credentials of the developers did not appear to have been checked and that a proper feasibility study of the project had not been carried out. The residents of the Bambalapitiya flats in the meantime have voiced their strong opposition to the project and point out that neither the government nor the developers have had transparent discussions with them on the project.

Property Information

Real Estate:

Available as lease or with real property included

Lease Terms:

99 years

Location:

Galle Road, Colombo 4, Sri Lanka

Premises Details:

Existing Apartment complex

Size in square feet:
435600.00 ft²
Planning Consent:

Cabinet approval has been taken

Business Operation

Expansion Potential:

yes

Competition / Market:

few

Reasons for selling:

For future developments

Other Information

Lease asking price:
On request (USD)

Contact Information

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