The Government is now in the process of closing the deal on the controversial Colombo Commercial Company property facing the Beira Lake after evaluating the bids of several investors, informed sources said.
A Cabinet Appointed Negotiating Committee is examining the proposed deal with a blue chip company which has agreed to make an upfront payment, sources added.
This blue chip conglomerate is to purchase the 11 acre prime property at a price of Rs. 8 billion. The demolishing of CCC buildings at the site has been completed by a private contractor on the directions of the Urban Development Authority.
The CCC property was earmarked to build city hotels, trade complexes and malls.The development of the CCC property is being carried out under the government's ambitious plan to transform Colombo into a world-class city, globally recognized as a thriving, dynamic and attractive regional hub that is the centre piece of '21st Century Sri Lanka'.
The responsibility of implementing this plan has been entrusted to the Defence Ministry under the direction of its secretary Gotabaya Rajapaksa.
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