Sri Lankan government to develop Beira Lake area in Colombo to convert it into a scenic asset in the city

Sri Lankan government to develop Beira Lake area in Colombo to convert it into a scenic asset in the city

The Sri Lankan government is reportedly looking at implementing a new Beira Lake intervention area development plan aimed at restoring the lake and turning it into a scenic asset in Colombo.
This observation has been made by a senior official of the Ministry of Megapolis and Western Development to the Business Times.
Accordingly, the banks of Beria Lake will be developed initially before executing the development activities on the land adjoining the lake whilst improving the quality of environment and beauty of the city.
The Cabinet of Ministers has reportedly granted approval last week to carry out the development of the banks of the lake clearing all nearby slum dwellings, controlling water pollution and safeguarding natural environment.
The Ministry official has said that construction of a linear park around the Beira Lake will be completed in the initial stage prior to the launching of this mega development project which will be implemented in five phases.
According to reports, with a highly urbanized catchment of 448 hectares, even today the lake is considered a centre for residential, commercial, tourism and religious activities although the present pollution has affected the picturesque locality.
To overcome the environmental pollution, families living in shanties along the lake will be provided housing units with more facilities in the condominium housing schemes under construction, report state.
Warehouses and garages by the side of lake will be relocated to use the land surrounding the lake for more productive uses, reports added.

OSL take:

The Sri Lankan government’s decision to develop the Beira Lake area in Colombo to convert it into a scenic asset in the city would create a large number of business as well as investment opportunities for locals and foreigners alike. Since the Beira Lake area covers residential, commercial, tourism and religious areas, the development of such locations would undoubtedly become a great revenue generator. Interested foreign businesses/investors could look at providing supporting infrastructure for the development project of the Beira Lake area. Investors could look at investing in real estate around the lake area with the aim of carrying out future development work.

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Article Code : VBS/AT/20180614/Z_4

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