Sri Lanka’s Bogambara Prison opens to investors
The Morning: The Cabinet has greenlit a proposal to invite private investment for the redevelopment of the former Bogambara Prison land in Kandy.
The land, which has already been transferred to the Urban Development Authority (UDA), falls within the utility services zone under the Kandy Municipal Council Area Development Plan for 2021-30.
It includes both the Bogambara Prison premises and the adjacent Prison Hostel, which have been identified for their potential under the World Heritage Organisation.
In line with the UDA’s master plan, the Cabinet has approved a proposal put forward by the Minister of Urban Development, Construction and Housing to call for investment proposals to lease the site for a 50-year period.
The aim is to implement a development project that aligns with the site’s environmental, social, and cultural significance.
OSL take:
With Sri Lanka’s tourism industry on a steady growth path, there has also been introductions of new tourism concepts to attract more foreign travelers to the country. Sri Lanka being identified as a must visit tourist destination and the increasing tourism concepts have resulted in the overall expansion of the local tourism industry creating a host of business/investment opportunities. These opportunities range from the development of infrastructure and supplementary infrastructure facilities required to meet the growing demand in key sectors under the tourism industry like the leisure and hospitality sectors. The increased interest of international leisure and hospitality brands to enter Sri Lanka’s tourism industry indicates the increasing business potential in the industry. It is in such a backdrop that the local authorities are looking at the redevelopment of a historical prison complex in-line with a new tourism concept. Given the growth and business potential in Sri Lanka’s tourism industry, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the industry. Foreign businesses could also look at engaging in Sri Lanka’s tourism industry through partnerships or joint ventures with local businesses.
| Article Code : | VBS/AT/20250612/Z_5 |