Press briefing of Cabinet Decision taken on 2016-03-02

Re-development of the Bambalapitiya Flats

- Although the above housing scheme has been extended to a premises of 10 acres and 15.55 perches, only 259 condominium residential units and 10 condominium commercial units are situated in the said scheme. Moreover, these half a century aged buildings have become dilapidated and insecure since they are located close to the sea. Therefore, the proposal made by Hon. Sajith Premadasa, the Minister of Housing and Construction, to take necessary action to implement the project for the Redevelopment of the 'Bambalapitiya Flats', in the above premises which has a vast development potential, with the foreign investor recommended by the Board of Investment of Sri Lanka, was approved by the Cabinet.