Sri Lanka national physical plan ready to enhance connectivity
ECONOMYNEXT – Sri Lanka’s government prepared an updated national physical plan to further enhance local and international connectivity, Megapolis and Western Development Patali Champika Ranawaka said.
The move was part of government efforts to create a dynamic environment for businesses and investors, he said at the PropertyGuru Asia Property Awards held in Colombo.
The awards offer “an opportunity for the finest Sri Lankan developers to join the ranks of the Asia-Pacific region’s fast-growing property sector which will give our development the due recognition by the customers in the region and rest of the world,” Ranawaka said.
“We have developed the national physical plan to further enhance local and international connectivity, for instant, the Colombo -Trinco economic corridor,” he said.
The National Physical Plan for 2018-2050 has been developed by the National Physical Planning Deparment under the Megapolis and Western Development Ministry.
Trincomalee will open Sri Lanka to India, Bangladesh, China, Myanmar, and other countries through Bay of Bengal while Colombo will open up to the West and the Middle Eastern markets and the East Africa.
“We have also drawn up the plan to develop the connectivity of Galle-Hambanthota to another economic corridor. In addition to this we have identified strategically important cities such as Kandy, Anuradhapura, Jaffna and the work has already commenced,” Ranawaka said.
In Colombo, he said there were many large-scale and ambitious projects being launched or nearing completion that open the door for more investments.
“Projects such as the Megapolis Master plan paint a progressive and strong Sri Lankan real estate sector,” Ranawaka said.
“There are also outstanding developments outside the capital, in central and southern parts of the country. These projects represent Sri Lanka’s strength and resilience, and willingness to create a better future for its citizens, residents, and visitors.”
Awards were presented to the finest real estate projects in Colombo, Greater Colombo, Central and Southern districts, as well as achievements in green development and public facility.
(COLOMBO, July 16, 2018)