Investors of Chalmers Granary project given Concessions

Published : 9:16 am  June 21, 2018 | No comments so far |  |  (320) reads | 

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By Sandun A. Jayasekara   

The government will provide additional payment options for investors looking at investing in the Chalmers granary project.   


The project is a commercial property coming under the purview of the Urban Development Authority (UDA), adjoining the Fort Railway Station.   


The land which is currently operated as a vehicle park has been proposed for a Mixed Development Project under the Megapolis Master Plan. Under the project wider corridors will be developed for the public and the premises will be connected to the proposed Multi Model Transport Hub (MMTH) in Fort and the Financial Hub in Pettah.   


The land has vehicular access from Sir Baron Jayathilake Mawatha, Olcott Mawatha and Malwatta Road. Although the land has been cleared from encumbrances the outer perimeter walls are all attached to 250 temporary shops from all sides. Therefore, it was decided to incorporate these shops into the development project with separate service connections but be located in an area of easy public accessibility.   

 

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  • The government will provide additional payment options for investors looking at investing in the Chalmers granary project


As per previous approval received from the cabinet the UDA called for Request for Proposals (RFPs) to offer the land for 99 years lease period to a private investor on October 15, 2017. However, no proposals were received by March 15, 2018.   


Subsequently, a meeting was convened on March 28, 2018 at the Ministry of Megapolis and Western Development for investors who had shown some interest in the project. Comments from investors ensured amendments to 
the RFP’s.   


Therefore cabinet approval was granted to include the following amendments in the RFP’s in a bid to bring in more investors.   

 

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