Sri Lanka’s Access, Ninewells joint venture gets UDA land for healthcare venture
Daily FT: The N.W. Realty Ltd., which was formed as a joint venture between Ninewells Hospital Ltd., and Access International Ltd., got around 0.1929 hectares (0.47 acres) of land for a healthcare project.
“Investment proposals have been invited on a competitive basis to dispose of a plot of land belonging to the Urban Development Authority (UDA), located at Kirimandala Mawatha in Narahenpita, for health and related activities development project for a 50-year lease period,” Cabinet Spokesman and Minister Bandula Gunawardena had said at the post-Cabinet meeting media briefing recently.
The Cabinet of Ministers approved the proposal submitted by the Urban Development and Housing Minister Prasanna Ranatunga, after reviewing the recommendations of the Cabinet Appointed Standing Negotiation Committee.
OSL take:
Sri Lanka’s healthcare sector is becoming an emerging business/investment opportunity. The government of Sri Lanka has also identified the expanding opportunities in the country’s healthcare industry. This is evident given the government’s allocation of a land for a healthcare joint venture to set up a medical facility. With Sri Lanka promoting medical tourism in the country and the growing demand for it, there will be a growth in business/investment opportunities in Sri Lanka’s healthcare industry. The growth in Sri Lanka’s healthcare industry along with the increase in medical tourism will also see an expansion as Sri Lanka is becoming a regional hub. Given the growing business potential in the healthcare industry, foreign businesses/investors could confidently explore the expanding opportunities in the industry.
| Article Code : | VBS/AT/20240325/Z_3 |