Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Sunday, 28 June 2015
New Govt. clears Krrish deal: Preliminary work starts
The new government, largely controlled by the United National Party (UNP) whose parliamentarians were vociferous against the Krrish deal when they were in opposition, has given the go ahead to the Indian-based company to commence the long delayed and controversial Krrish Square mixed development project, a top official confirmed.
Urban Development Authority (UDA) Chairman Ranjith Fernando told the Business Times that preliminary work on the project at the prime 4.3 acre land which housed the Transwork House, a British era heritage building in Fort, has begun following the clearance given by the government despite the Krrish group still not paying the final due of Rs.589.7 million with accumulated interest at 12 per cent.