-Taking into consideration the time taken in selecting suitable investors for the development of lands belonging to the Urban Development Authority in terms of the existing procedure adopted in this regard, the proposal made by the Prime Minister in his capacity as the Minister of Urban Development and Housing to follow the procedure stated below for the same, was approved by the Cabinet.

• To authorize the Urban Development Authority to call for Requests for Proposals to alienate lands belonging to the said Authority for the development activities according to the proposed development plans with the full participation of the private sector as well as the Public-Private Partnership in terms of the Government Procurement Guidelines.

• To invite proposals from the interested prospective investors through the Competitive Bidding Process for the development of lands belonging to the Urban Development Authority identified for the projects to be implemented with the Public-Private Partnership.

• To appoint a Cabinet Appointed Negotiation Committee to evaluate the said proposals and Project Committees based on the nature of each project.

• In determining the value of the lands to base it on the the valuation of the Government Chief Valuer.

• to alienate the relevant blocks of land to the selected investors on lease basis based on the recommendation of Cabinet Appointed Negotiation Committee and subject to the approval of the Cabinet.