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Racecourse hits roadblock in attracting operators

25 Jan 2022

  • UDA yet to see a single proposal despite waiting six months
The Urban Development Authority (UDA) is yet to receive a proposal from an interested party for the operation of the Colombo Racecourse Mall, more than six months after the commencement of the process of evaluating potential investors to lease out the property back in July 2021. Speaking to The Morning Business, UDA Director General N.P.K. Ranaweera stated: “We called for proposals from potential operators for the management of the Colombo Racecourse last year and we are yet to receive a proposal.” With a similar intention, the UDA recently successfully leased out Arcade Independence Square to Softlogic Holdings, a leading conglomerate in Sri Lanka, for a period of 10 years to resolve the challenges faced by the improper maintenance of the building, which was under the former Government. Colombo Racecourse was initially a harness racing course in Cinnamon Gardens, Colombo. It was opened in 1893 for horse racing and later converted to an airfield during World War II. According to UDA public facility data, the premises had been used again for horse racing for a while but had stopped, and was then neglected and falling apart until its refurbishment in 2011. In 2011, the UDA commenced the renovation of the Grandstand and the Colombo Turf Club building. The structures were renovated by the Sixth Engineer Services Regiment and Central Engineering Consultancy Bureau, and the remaining grounds were redeveloped into Sri Lanka’s first international-grade Rugby Union Grounds. In 2014, the ground went through a major renovation which included the installation of floodlights and the conversion of a substantial part of the Grandstand into a shopping and dining complex. 


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