brand logo

Kollupitiya supermarket: Mixed development project in the works 

02 May 2021

 

  • CMC-UDA ink MoU 

  • UDA to attract foreign investments 

  • 90 shops to be relocated 

  • Apartment complex in the pipeline  

      A foreign-funded mixed development project has been proposed for the Kollupitiya Supermarket premises which were recently taken over from the Colombo Municipal Council (CMC) by the Urban Development Authority (UDA), The Sunday Morning learnt.  UDA Director General Prasad Ranaweera told The Sunday Morning yesterday (1) that the supermarket land was taken over by the UDA as per a request made by the CMC to develop it as a mixed development project since the CMC did not have the required legal provisions to attract foreign funds.  “The UDA will act as a consultant and obtain a fee from the CMC for the service that it will provide. The CMC could not call for tenders from foreign investors and go for 99-year lease agreements, and therefore, the UDA will facilitate the CMC in this regard,” he explained.  According to Ranaweera, the memorandum of understanding (MoU) between the UDA and CMC has already been signed and an agreement regarding the matter would be reached soon.  Explaining the nature of the project, Ranaweera said that the building would be developed for commercial purposes. “We will first relocate the shops that are already there in the building. There are around 90 shops and there would be a residential apartment complex as well,” he added.  The UDA took over the Kollupitiya Supermarket from the CMC through an extraordinary gazette notice signed by Prime Minister Mahinda Rajapaksa last week.   The gazette states that by virtue of the powers vested in him under Section 15(1) of the UDA Law, No. 41 of 1978, Premier Rajapaksa, who is also the Minister of Urban Development and Housing, has taken over the land where the Kollupitiya supermarket is located.   


More News..