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FINANCIAL CHRONICLE™ » INVESTMENT OPPORTUNITIES

Bogambara Prison Land at Kandy

Published the Sun Jul 04, 2021 5:16 pm

    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

    • PseudoUrban Development Auth.
    • Vendor typeProfessional