Land for Lease in North & East Sri Lanka for Rs20mn an Acre for Tourism Development

07th February 2011, www.island.lk, By Mario Andree

The government is planning to lease out land at Rs. 20 million an acre on a 99 year lease in the North and East for tourism development, and investors would be served on a first-come-first-served basis as long as they can afford it.
Sri Lanka will lease 500 acres of land in the North East coast to potential investors in order to develop tourism infrastructure, a tourism official said.

Sri Lanka Tourism Development Authority Chairman Dr. Nalaka Godahewa told The Island Financial Review that the Cabinet had granted approval to sell land in the North and East under a 99 year lease agreement at Rs. 20 million an acre.

A stretch of land in Kuchchaveli, North West off Trincomalee has been identified for this purpose.

He said the land would be leased out on a first come first served basis after one-on-one interviews with the Treasury. "Who ever applies and can afford to pay for it, will be leased the land."

Denying recent reports in the press, Dr. Godahewa said the Kalpitiya island resorts project, which attracted 11 bidders, was going ahead. He said the bidders had been shortlisted to six and was handed over to the Cabinet-approved procurement committee for evaluation. "The results are still pending," he said.

However he said most likely Kalpitiya would also follow the same pattern of Kuchchaveli to develop tourism infrastructure.

Related Info :
• Sri Lanka Gets $500mn Tourism Proposals for Ten Kalpitiya Islets off North Western Coast

• 60 Investors to Build Hotels in Trinco in the Newly Proposed 8-kilometre Tourism Zone on the Kuchchaveli coast, Trinco, Sri Lanka