The Cabinet of Ministers has granted the approval for the construction of multi-storey vehicle parking premises and the implementation of mixed-development projects in selected cities including Colombo.
The proposal was tabled by the Minister of Urban Development and Housing, PM Mahinda Rajapaksa with a view to minimize the daily traffic congestion caused by the influx of vehicles to major cities.
The project is to be implemented under 02 methods:
- Invitation of proposals from private sector investors for the construction of general multi-storey vehicle parking premises and mechanical parking stations in 08 venues within Colombo and the cities of Battaramulla, Anuradhapura and Kandy as a state-private joint venture.
- Invitation of proposals for the construction of general multi-storey parking lots and mechanical parking stations in Narahenpita, Telecom car park in Pettah, parking venue at the Ottus Sports Club in Colombo 07 and Kinsey Avenue in Colombo 07 with other appropriate projects including housing units and office spaces so that the expenditure for the project can be generated from the project itself on the pre-sale basis.
