Sri Lanka’s UDA land Colombo is now available for a mixed development project, including residential and commercial purposes. The government is seeking investors to transform the prime property in Kollupitiya into a modern urban space.
Sri Lanka’s UDA land Colombo available for mixed-use project with residential and commercial options
Sri Lanka has announced that UDA land in Colombo, located at Perahera Mawatha in Kollupitiya, is being offered on a 99-year lease for a mixed-use development project. Minister Nalinda Jayatissa confirmed that the government is inviting investment proposals for this strategically located property.
The land spans 2 roods and 23.1 perches, providing ample space for a development plan that combines residential, commercial, and hospitality facilities. The cabinet has stipulated that at least 50% of the land must be allocated for residential purposes, while the remainder can be used for hotel or commercial functions.
Minister Jayatissa noted that a previously selected investor had failed to meet the lease conditions, prompting the cabinet to cancel the earlier agreement and reopen the land for new proposals. The decision reflects the government’s commitment to ensuring that high-value urban land in Colombo is effectively utilized to meet modern development needs.
This mixed development project is expected to contribute significantly to Colombo’s urban growth, creating opportunities for housing, business, and tourism-related activities. With Kollupitiya being one of the city’s most strategic locations, investors have the potential to benefit from both commercial viability and residential demand.
The UDA land Colombo initiative aligns with Sri Lanka’s broader urban planning strategy, aimed at optimizing city spaces, enhancing infrastructure, and promoting sustainable urban development. By combining residential and commercial elements, the project seeks to create a balanced, integrated urban environment.
Potential investors are encouraged to submit proposals that demonstrate innovative approaches to mixed-use urban planning, ensuring modern amenities, sustainable architecture, and value-added solutions for both residents and businesses. The government expects the project to enhance Colombo’s skyline while contributing to economic growth and job creation.
The land’s location in Kollupitiya, a central and vibrant area of Colombo 3, offers access to key commercial hubs, transport networks, and lifestyle amenities. This makes the UDA land Colombo a highly attractive investment opportunity for both local and international developers seeking to participate in Sri Lanka’s urban transformation.
By opening this land for a mixed development project, Sri Lanka is signaling its readiness to collaborate with investors to modernize city infrastructure, encourage innovative property development, and stimulate long-term economic activity. The project is expected to have a transformative impact on the urban landscape while addressing the increasing demand for residential and commercial space in the capital.
The cabinet’s approval ensures that the project will move forward under structured conditions, balancing private investment interests with public policy objectives. The UDA land Colombo project highlights the government’s proactive approach to urban planning, economic development, and strategic land utilization in Sri Lanka’s capital city.