Press briefing of Cabinet Decision taken on 2021-05-17

Investment Strategy and Policy Framework - Selendiva Investment (Pvt.) Ltd.

- In accordance with the Cabinet approval granted on 2020‑03‑04 to form a state-owned Property Development Company with the objective of transforming the State-Owned Hospitality Portfolios to optimum performance level through appropriate restructuring, action was taken to establish the Selendiva Investment (Pvt.) Ltd. with 100% ownership of the Treasury. State-owned Canwill Holdings (Pvt) Ltd., Hotel Developers (Lanka) PLC and Hotels Colombo Ltd have been vested in Selendiva Investment (Pvt.) Ltd at present. An Investment Facilitation Model based on Public Private Partnership has been planned by Selendiva Investment (Pvt.) Ltd. with a view to facilitating the identified state-owned institutes and investments and under this, it has been identified to implement three (03) investment portfolios as 'Heritage Square in Colombo Fort', 'Real Estate Development' and 'State-Owned Hospitality Sector'. Accordingly, the proposal made by the Hon. Prime Minister in his capacity as the Minister of Urban Development and Housing to take necessary action for the same, was approved by the Cabinet.