Proposed multifunction commercial building project in Col.12 gets Cabinet nod

The Cabinet nod was given to move ahead with the proposed Multifunction Commercial Building Project in 6-acre land plot owned by B. C. C. Lanka Company Limited in Colombo 12.

With an estimated investment of Rs.3.2 billion, the proposed 20-storey building complex is expected to deliver superior and innovative experience to the law practitioners and start-ups that are in search for office spaces in Colombo including amenities such as car parking lots, supermarkets, banquet hall facilities, short-term accommodation facilities and luxury hostels and living spaces.

Industries Minister Wimal Weerawansa on Monday furnished the resolution with the concurrence of Prime Minister Mahinda Rajapaksa in his capacity as Minister of Urban Development and Housing.

This proposed project is scheduled to be implemented as a public-private partnership. Accordingly, the government is offering 41 percent stake in the project to private sector investors.