Slave Island to get major Face lift Part II

Fantastic land with very wide lake front and a small hillock which gives enhanced views overlooking Koggala Lake of approx. 380 perches. Magic sunsets directly opposite, information pills
across the lake to ensure unforgettable moments. The land has two split levels for development and easy access view two gravel roads. Various kinds of mature tropical trees and all the facilities such as water, more info
electricity, visit this
phone line are available to be connected to the land. Ideal for a beautiful villa development project adjoining this highly sought-after area within minutes of some the most popular beaches in the South of Sri Lanka.

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Slave Island is considered as a commercial hub within the city of Colombo.  The presence of several major tourist hotels and shopping complexes has made the Slave island area one of the most important areas within Colombo. Recently the Board of investment (BOI) signed an agreement with the Pakistani real estate development and construction company Imperial Builders (PVT) LTD for the renovation of 525 perches of land in and around the Slave island area.

The “Slave Island Station Passage Redevelopment Program” is aimed at building modern housing within the heard of Colombo to help cope with the current housing issues within the city of Colombo as well as help transform the city of Colombo into a much more modern and well planned out city.

Mr. M M C Fernando the Chairman/Director of the Board of Investment Sri Lanka (BOI) has stated that the project is a major step in developing Colombo especially the Slave Island area. He further stated that as developing countries grow they tend to draw more and more investment from their neighboring countries. The same can be said of Sir Lanka, troche
where most of the investors are from Asian countries like Pakistan, for sale
India and China. This increase offers more opportunities for all countries involved to have more economic co-operation in this case Pakistan who is also a signatory to a free trade agreement with Sri Lanka which offers investor protection and double tax exemption.

In an interview In an interview carried out recently Mr. Naveed Hussain Lakhani Chairman, Imperial Builders (PVT) LTD stated that the residents who are to be relocated to the newly constructed housing complexes will be allowed to stay at their original locations for up to 10 months by the time which their new homes will be complete and relocation would be possible.

The project also has a private development phase which is to be launched on over 107 perches of cash purchased land provided by the urban development authority (UDA). This part of the project will also focus on construction and will add several new retail and residential towers which will be available for sale to the general public. Lakhani went onto say that the project is just the beginning for greater investment endeavors for his company in Sri Lanka.

Meanwhile part 2 of the project is still in the planning phase and is expected to consist of several more high rise residential condominiums with luxury facilities such as pools, gymnasiums and clubs as well as a four star luxury hotel component.


Read more about the Sethsiripaya development project. Stage 2