Sri Lanka to launch Rs. 4 billion housing scheme in country’s commercial capital, Colombo
The government of Sri Lanka has commenced construction work of the second phase of the Maligawatta-Apple Watta housing scheme under the instructions of the country’s President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa.
According to reports, the project at a cost of Rs. 4 billion will build 700 housing units at Apple Watta accommodated in a 16-storied building consisting of 500 sqft floor area housing units and each housing unit includes two bedrooms, living area, kitchen, dining area, balcony, toilet and bathroom with a separation.
These houses are to be allocated to needy families living in low-income settlements in accordance with the Vision of Prosperity policy statement.
Construction of the houses commenced under the patronage of Sri Lanka’s State Minister of Urban Development, Coast Conservation, Waste Disposal and Public Sanitation Dr. Nalaka Godahewa.
These houses are to be constructed and handed over to the public within two-and-a-half years.
The flats will be constructed on a 12-acre land and the first phase of the housing scheme ‘Methsanda Sevana Housing Project’ consisting of 472 units has been completed and handed over to the people, local media reports stated.
The construction work of the second phase of this Apple Watta apartment complex is being carried out under the project to build 5,500 houses in Sri Lanka with the financial assistance of the Asian Infrastructure Investment Bank, reports added.
Dr. Godahewa has stated that this housing concept was initiated by President Rajapaksa when he was the Secretary to the Ministry of Defense and Urban Development for the needy people in Colombo.
OSL take:
The government of Sri Lanka is committed to restarting its development drive that was temporarily stopped due to the challenges posed by the global Covid 19 pandemic. However, Sri Lanka’s economy has shown resilience and most of its key economic sectors have recomnenced operations showing great potential for growth, especially in the exports, agriculture, ICT and digital infrastructure development as well as maritime sectors. Sri Lanka’s on going development programme has opened up a host of business/investment opportunities for the discerning foreign business/investor. After all, Sri Lanka’s geographical positioning in the Indian Ocean, ease of doing business environment and the many trade agreements as well as trade concessions enjoyed by the country have made it a business hub in the South Asian region.
| Article Code : | VBS/AT/13112020/Z_6 |