ICC secures tender for middle-rise mixed development project in Thalapathpitiya

International Construction Consortium (Pvt) Limited (ICC) has secured the tender to construct a mixed development project on a 2-acre 6.32 perch land in Thalapathpitiya belonging to the Urban Development Authority (UDA) with long term lease rights at an estimated investment of US$ 18 million.

The Cabinet of Ministers on Monday approved a proposal forwarded by Prime Minister Mahinda Rajapaksa in his capacity as Minister of Urban Development and Housing to lease the relevant land to ICC on a long-term basis for the implementation of the project.

Based on a Cabinet decision late last year, the UDA called for proposals from prospective investors on a competitive basis to implement the proposed project on the basis of design, construction, financing, directing, and transfer with the final submission date set on July 16th this year.

The proposal submitted by ICC was recommended by the Cabinet Appointed Standing Negotiation Committee and the recommendation had also been approved by the UDA management board.

According to the tender document, the middle-rise mixed development project would consist of residential, commercial as well as office spaces and the land was to be given on a 99-year lease hold basis.  The cost of the project was estimated at US$ 18 million.

Established in 1980, ICC is one of the largest civil engineering organisations in the country. The company successfully expanded its operations into the property development sector in 1999 by establishing a number of fully-owned subsidiary companies, including ICC Housing (Pvt) Ltd, Nivasie Developers (Pvt) Ltd, ICC Development Holding (Pvt) Ltd and ICC Developers (Pvt) Ltd. In addition, the company has also expanded into ready-mix concrete, pre-cast concrete products, aluminum & steel fabrication, prefabricated housing, fully automated timber production and multiple interior wall partition solutions.