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FINANCIAL CHRONICLE™ » INVESTMENT OPPORTUNITIES
Description :
Project Name :
Bogambara Prison Land at Kandy
Proposed Project Description :
Kandy which is the commercial center and the administrative capital of Kandy District, serves a large proportion of population. The Kandy town and surrounding area possess a large repository of resources and cultural heritage and a potential for urban development. The Urban Development Authority plans to transform the site in to a prison museum in order to offer an insight of the living conditions of former prisoners, while the cells been converted into comfortable rooms with all basics. The UDA expects the involvement of investors in development of the prison hotel.
Expected investment :
Hotel Development
Expected method of partnership :
Annual Lease Basis
Employment generation :
200 - 500 employment opportunities
Market potential :
Extensive development opportunities in the area with expected future development prospects of the area. Gain on opportunities with expected future development prospects of the area attracting a large number of international and local tourists.
Payback period :
Based on the Investment Proposal
Period to commence commercial operation :
2022/2023
Current status of the project :
Preparation of documents for preliminary approval - In Progress
Common infrastructure and utility availability :
The main access is from Keppetipola Road, Kandy. It has close proximity to educational facilities, cultural landmarks, financial centers, and major transportation facilities. Availability of water, electricity, sewer and wastewater lines, etc.
Geographical Location :
Keppetipola Road, Kandy
Land Extend :
07A 01R 08P; 2.9542 Ha; 29,542 sq. meters
Estimated Land value :
USD 40 Mn (Approx.)
Land Agreement/ownership :
Urban Development Authority
Benefits to the Investor :
Government Tax Concessions. Speedy approval process with assistance of the UDA. Readily available basic infrastructure to the site. Government assured land tenure security. Property located in the prime location of Kandy City
Contact details :
(Name, Designation, Institute, Telephone, Email, Website)
Mr. M.M. Anura Prasanna
Director (Real Estate Development), Urban Development Authority
+94112875921
realestatedivisionuda@gmail.com
Vendor details
Urban Development Auth.
Professional
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