The government has allocated 34 acres of land to facilitate the construction of the second and third phases of the National School of Business Management (NSBM), according to Cabinet spokesman and Mass Media Minister Dr. Bandula Gunawardhana. This decision, subject to the estimated value recovery determined by the Government Valuer, will be on a long-term lease basis.
Minister Dr. Bandula Gunawardhana stated that the Cabinet of Ministers approved the allocation of 14 acres, 3 roods, and 12.8 perches of land for the development of Phase II of the university. Additionally, approval was granted for another 20 acres of land for the construction of Phase III, again subject to valuation by the Government Valuer and under long-term lease arrangements.
The Cabinet paper pertaining to this allocation was presented by Urban Development and Housing Minister Prasanna Ranatunga. The designated land, known as Maahenawatte and covering 237 acres in Pitipana, Homagama, was acquired by the Urban Development Authority. This acquisition is part of the broader Homagama Urban Development Plan, aimed at developing a “Knowledge Centred City” and fostering advancements in the science and technology sector.