Lee Hedges gives Tudawe Brothers high-rise building contract
COLOMBO (EconomyNext) – Sri Lanka’s Lee Hedges PLC has loaned its subsidiary Lee Hedges Investments Ltd 127 million rupees at an annual interest rate of 8 percent for an advance payment to Tudawe Brothers to build its multi-storied mixed development project.
A stock exchange filing said the loan was until the subsidiary gets a bank loan to finance the property project.
Lee Hedges Investments has entered into an agreement with Tudawe Brothers, a construction firm, to award it the contract to build the proposed high-rise at No. 349, Galle Road, Colombo 3 at a contract cost of over 978 million rupees.