Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Thursday, 24 March 2011
Two islands leased out
Two islands near Kalpitiya have been leased out at Rs. 18 million to two foreign companies for investment in tourism for 30 years, Parliament was informed today.
Of them, Vellai Island has been given on lease at Rs. 3.7 million to be developed as a joint investment between Sri Lanka and Maldives and Switzerland, and Inpativu Island at Rs. 14 million to an Indian company named Cube Leisure Property Private Ltd. The joint venture with Maldives and Switzerland is called Sun Resort Investment Lanka Private Ltd.