Press briefing of Cabinet Decision taken on 2011-06-22

Housing Development Programme for Underserved Settlements in Colombo and adjoining areas

- on a proposal made by H.E. the President, the Government has launched a development programme through the Urban Development Authority (UDA) to provide housing facilities to the Underserved Settlements in and around Colombo. Cabinet approval has already been granted for the appointment of a Cabinet Appointed Negotiating Committee and a Project Committee to evaluate the proposals received from investors. Separate Contracts have already been awarded on the recommendation of the above Committees, for the construction of 4393 housing units. Under the third step of this programme 1034 housing units are to be constructed, and the first phase will consist of 216 housing units at Salamulla Kolonnawa and the work will be handled by the Sri Lanka Land Reclamation and Development Corporation. The fourth step of the project will consist of 31,500 housing units with 16,500 in the first phase to be funded by Unicorn Investment Bank of Bahrain. 7,500 Housing Units will be constructed initially within a period of one (01) year.