Siemens cements ties with Sri Lanka on smart city solutions

Siemens today said it has strengthened its partnership with Sri Lanka by signing a pact with the Ministry of Megapolis and Western Development to offer expertise from its globally-proven smart city solutions.

The major objective of the Ministry of Megapolis and Western Development is to bring systematic changes and development processes into the urban community in Sri Lanka, which will ensure inhabitants of urban areas become part of socio-economic development while maintaining high quality of life, Siemens said in a BSE filing.

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(Source: Sri Lanka Mirror)

Bill to make prior approval of NBRO compulsory- Yapa

A Bill would be soon passed in parliament making it compulsory to obtain prior approval from the National Building Research Organisation (NBRO) before commencing any construction work, Disaster Management Minister Anura Priyadharshana Yapa said today. “We are compelled to change laws pertaining to construction as the country is frequently hit by natural catastrophes,” he said. 

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(Source: Daily Mirror)

Western Province megalopolis to be completed in 2030

The megalopolis project in the Western Province is planned to be completed by 2030,Megalopolis and Western Development Minister Champika Ranawaka said.

Speaking at a seminar on the Western Province Megalopolis project conducted by the Chamber of Construction Industry recently, he said the policies regarding the Megalopolis project will be launched this week.

The main topic of the discussion was regarding the question of how soon the country will be able to see the project as a reality. The timeline given for the project claims 2030 as the year that it would see the completion of the megalopolis.

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(Source: Daily News)

China and Sri Lanka decide to make Port City into a financial hub as part of 20 year plan

China and Sri Lanka have decided to redefine the controversial Colombo Port City project by making it an international financial outpost in the Indian Ocean, as part of the 20-year framework plan.

An upbeat Sri Lankan Prime Minister Ranil Wickremasinghe said during a media conference on Saturday that from a real estate project, a decision has been taken to develop the Port City into a financial hub in the Indian Ocean. “Sri Lanka has been planning to establish a financial and business hub in the Indian Ocean and we selected the port city to be the location (for this). So from a landfill and real estate (project), it has become a financial hub.”

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(Source: The Hindu)

Lanka, China agreed to speed up port city project

After stalling the Colombo Port City project for a year, Sri Lanka and China had agreed to "speed up" the USD 1.5 billion Chinese-funded venture besides endorsing the ambitious Maritime Silk Road, the PTI reported today. Prime Minister Ranil Wickremesinghe - who received a red carpet welcome at the Great Hall of People - held talks with his Chinese counterpart Li Keqiang after which the two sides signed seven agreements.

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(Source: Daily Mirror)

China’s ‘Port City’ in Sri Lanka to go ahead, land on lease, not freehold: Malik

Sri Lanka has sorted out differences with China on major projects with the biggest, a 1.4 billion US dollar ‘Port City’ real estate reclamation, about to be given approval, a minister said.

“We discussed all outstanding issues, all outstanding matters have been resolved,” declared Malik Samarawickrama, Minister of Strategic Development and International Trade, referring to his recent visit to China.

“Now it’s all systems go as far as China is concerned.”

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(Source: Economy Next)

Asset Homes to enter the real estate segment in Sri Lanka

Kerala-based realty major Asset Homes is all set to enter the real estate segment in Sri Lanka. It is in discussion with Sri Lankan government to develop residential townships in Colombo, in collaboration with the government. 

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(Source: Economic Times)