Investors will be given commercially-valuable lands in major cities to obtain contributions towards economic growth, said urban development and housing state minister Arundika Fernando.
Speaking to the media, he said investors, who are currently working on projects on state-owned lands in Colombo, have been given the final notice on resumption of the projects.
If these investors fail to complete the projects, the government would intervene and take over the projects, said Fernando, adding the projects would then be allocated to new investors.
“The government has given the opportunity to investors to start projects on commercially-valuable land in Colombo. But due to the poor economic situation the country faced, these projects have been halted.”
“We have informed them in writing to restart the projects. If the investors do not take a decision before the end of next month, those projects will be taken over by the government and given to new investors,” he added.
