Sri Lanka’s PM says 2.5mn Freehold lands to come into market


Aug 10, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said, the government will provide freehold land titles for those who have enjoyed occupation of land under different government schemes since 1931.

“We want to encourage small ownership, a strong middle class and this is why we will be giving full hold to the all lands issued on permits from 1931, whether it will be a land for agriculture , lands for building houses or even flats,” Wickremesinghe told the Economic Summit held last week.

“We expect about two or 2.5 million freehold titles to come to the market, empowering the people and rejuvenating their lives and the economy.”

He says the government will also push the Western Megapolis project which was planned in 2004, encompassing eight million people to spur the Island’s development.

“If any Asian country wants to develop, you need a large city, you can’t run only with Colombo,” Wickremesinghe said.

“So we are looking at a highly developed western province,”

“We can beatify Colombo more but Colombo’s population won’t increase,”

“About 500,000 housing units to be promoted by the public and private sector to be available to the people especially to the middle class and the working class.”

Wickremesinghe said, through these measures, key capital cities will foster growth.