Category: Real Estate & Construction
Rajagiriya flyover work to commence July 2016: Harsha
May 16, 2016 (LBO) – Work on the proposed Rajagiriya Flyover will commence from July 2016 and be completed by 2018, a senior official said. “It gives me great pleasure to announce that as an interim solution to the total traffic solution in the Megapolis plan, we will soon start work on the Rajagiriya Flyover,” […]
Megapolis should avoid mistakes by other South Asian cities: CCC Chairman
May 04, 2016 (LBO) – The Chairman of the Ceylon Chamber of Commerce says Sri Lanka should avoid mistakes made by other South Asian cities, when developing the proposed Western Megapolis Project. “A center piece of the government’s economic development agenda – the Western Region Megapolis project is set to have a massive urban infrastructure […]
Mawilmada to head Sri Lanka Megapolis investments
May 04, 2016 (LBO) – Nayana Mawilmada has joined Sri Lanka’s Western Region Megapolis Planning Project (WRMPP) as head of investments, leaving his role as director general of the Urban Development Authority. Aside from continuing to lead some of the planning efforts, Mawilmada will function as the primary interface between the Megapolis project and potential […]
Sri Lanka Lotus Tower land deed still not cleared
Apr 26, 2016 (LBO) – The Lotus Tower or Nelum Kuluna’s land is still in dispute and awaiting approval from the Urban Development Authority, a senior official told Lanka Business Online. “We are still waiting for the land issue to be sorted, it needs to be cleared by the Attorney General’s Department and then the […]
Paranthan Factory reconstruction starts this year with Rs525Mn
Apr 25, 2016 (LBO) – A now defunct Lankan chemical pioneer is to be revived and construction work shall start before the end of this year to revive the historic manufacturing giant, a minister said. “We have earmarked Rs 525 Mn to start work on the Paranthan Chemicals Factory in Kilinochchi, The construction work will […]
Decisions under Sri Lanka’s Megapolis are ad-hoc: Prof Kumarage
Apr 08, 2016 (LBO) – Decisions and actions under Sri Lanka’s Megapolis have been ad-hoc and have not received sufficient debate and evaluation, a transport sector expert charged. Professor Amal Kumarage, a senior professor at Moratuwa University, speaking at a Verité Research seminar said the Megapolis initiative is based on unsustainable high-cost and long-term solutions. […]
MTD Walkers says no partnership with Kolkata flyover builder
Apr 05, 2016 (LBO) – MTD Walkers PLC says says it is neither a JV partner nor the local partner of IVRCL of India, to clear up confusion in a recent media report, after Indian authorities began a probe into the flyover builder IVRCL. IVRCL Infrastructure Company in India is being investigated after a flyover […]
‘s capital
Apr 04, 2016 (LBO) – Sri Lanka’s Ekroma Realtors, a privately owned real estate developer, unveiled plans for an apartment complex targeting young professionals and families who need the convenience of city living in a central location. “We saw that there was scope for growth in the in luxury and modern living market and there were […]
Sri Lanka’s Watawala Plantations invests in new dairy farm
Mar 24, 2016 (LBO) – Sri Lanka’s Watawala Plantations, one of the largest tea plantation companies in the island has entered into a Joint Venture Agreement with PADC Holdings in Cayman to set up a new dairy farm. As per the agreement entered between the two parties today, the dairy farm will be set up […]
Sri Lanka gives official go ahead for China Port City; CHEC welcomes approval
Mar 15, 2016 (LBO) – Sri Lanka’s government officially informed the Chinese investors of resuming the construction of the Port City project in capital Colombo, yesterday one year after its suspension, a foreign news agency reported. According to China’s state media, Xinhua Sri Lanka’s Ministry of Ports and Shipping, in an official letter to the CHEC Port […]
Interview: Tourists need better infrastructure, says Astoria developer
Mar 12, 2016 (LBO) – Sri Lanka should take more steps to attract Chinese tourists as foreign investors increase investments in the island, a top Chinese property developer said. “We think Sri Lanka has a bright future. But Sri Lanka must improve infrastructure facilities to attract more people,” Zhong Yuan, the president of AVIC International Hotels […]
Sri Lanka Meagapolis Authority Act to parliament in two months
Mar 09, 2016 (LBO) – The legal act for Sri Lanka government’s hallmark Megapolis development is now drafted and will be presented in parliament soon, a senior official said. “We hope to bring the Megapolis Act to the legislature in the next two months,” Ranjith Fernando, chairman of the Urban Development Authority said. “This act […]