July 13, Colombo: Sri Lanka Minister of Economic Development Basil Rajapaksa said the government had identified 47 acres of prime land from the capital Colombo city that is suitable for mass scale investments.
The land which belongs to the Urban Development Authority will be released for investment step by step to prevent the decline of market price of prime land, the Minister had told the media, Sinhala daily The Lankadeepa reported.
The Minister made this statement in response to a question raised by a journalist regarding releasing of prime land in Colombo city for big investments.
Sri Lanka government recently granted 10 acres of prime land at Galle Face to Shangri-La Company of China for a hotel project.
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