Cabinet Approves Investment Call for Colombo 10 IT-Focused Mixed Development

The Cabinet has approved a recommendation to invite investment proposals for the development of a 1 acre, 1 rood, 12.4 perches plot of Urban Development Authority (UDA) land. Located on Maradana Road, Colombo 10, the property is earmarked for a mixed-use development project centered on information technology-related innovations. This initiative follows a proposal by the Minister of Transport, Highways, and Urban Development, and a recommendation from a special committee appointed on April 28, 2025, to identify suitable uses for unused UDA lands. The development is intended to be offered on a 50-year lease basis and aims to engage Sri Lankan technology scientists for the local market.