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Thursday, October 15 2026
Thursday, October 15 2026
MONETABRIEF – The China-backed company that reclaimed Colombo Port City had sold a 99 year lease at the rate of around 3,000 US dollar a square metre, Harsha Amarasekera, Chairman of its regulatory authority said.
Land plots which have been sold to investors have different prices but the average is around 3,000 dollar a square metre, Amarasekera, Chairman of the Colombo Port City Economic Commission told the parliament's Committee on Public Finance.
At current exchange rate of 331 rupees per dollar, the price for a perch of leased land works out to around 25 million rupees.
The Commission had received 398 million rupees or one percent of the lease sales, indicating that the 9 parcels land of around 12 hectares had been sold for 39.8 billion rupees.
The land can be bought for rupees, but the buildings have to be built using foreign funds.
Some of the apartments can also be sold for rupees, Amarasekera said, without elaborating.
Radhika Obeysekere, Director Commercial for the Port City Economic Commission said around 1.13 billion US dollars of investments are expected. (Colombo/Oct15/2026)
| 3 month bill | 9.26% | 1bp ▲ |
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| Gold (Ounce) | $4187 | - ▼ |
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