|While the Urban Development Authority (UDA) has plans to sell its former head office at D.R. Wijewardena Mawatha Colombo 10, properties along that road are being hunted by prospective investors, following a proposal by the UDA to zone this area for leisure and entertainment projects. |
“We’ll be advertising our former UDA head office at D.R. Wijewardena Mawatha which has five acres by next year for development,” Nihal Fernando, Director General UDA told the Business Times.
He added that 2011 will also see many such UDA-owned lands in the market. “Whatever we want to develop will be advertised,” he added. Aitken Spence Hotels PLC is eyeing the state-owned boat builder, Ceynor Foundation complex also in D.R. Wijewardena Mawatha for a 15-floor hotel project, according to company sources.
(Source: Sunday Times)