By: Staff Writer
September 01, Colombo (LNW): The Government has made yet another ambitious attempt to revive a long-delayed mixed development project on a prime stretch of land at No. 40, D.R. Wijewardena Mawatha, Colombo 10, with fresh Cabinet approval and a renewed push to attract high-value investors.
The property, covering 3 roods and 13.85 perches under the Urban Development Authority (UDA), has been put up for investment offers on a 99-year lease. Officials said proposals are now invited for hotels, malls, convention centres, and leisure spaces, alongside a six-to-12 metre wide linear park, children’s play areas, water recreation, and cultural zones, making the Beira Lake a modern hub of commerce and tourism.
This initiative is part of a broader government plan to transform the Beira Lake region into a thriving commercial and recreational zone through high-rise construction, green walks, and recreational amenities. However, the project comes with a chequered history of stalled investments and unrealised promises.
In 2017, a US$200 million luxury resort planned by Queensbury Leisure Ltd, owned by billionaire Dhammika Perera, was cancelled after failing to begin within the required 48 months. Later, in 2022, Japanese real estate giant Belluna Co. Ltd, which invested Rs. 4 billion with Asia Capital, pulled back citing liquidity constraints and Sri Lanka’s economic challenges.
Implementation hurdles remain. The land is still occupied by state entities such as the Excise Department, CWE warehouses, and CW Mackie PLC. Relocation talks are underway, and over 320 unauthorized settlements near the Gangaramaya Temple and railway line have already been cleared, with more than 1,000 to follow.
On the positive side, the site has strong infrastructure, with water, electricity, sewer lines, and close access to Colombo Port, Fort railway station, schools, financial hubs, and cultural landmarks. The UDA is offering payment terms on a mix of upfront and installment basis, based on the Government Chief Valuer’s assessment.
Officials remain optimistic but acknowledge that only consistent policy direction and a stable economy can restore investor confidence and prevent another round of setbacks.
Meanwhile, the government has launched parallel initiatives to revive and restore the Beira Lake itself. Western Province Governor Hanif Yusoof announced trials of fully electric, solar-powered waste-collecting boats designed to clean up the historic lake. The first vessels began operational testing last week, each capable of removing up to 3,000 kilograms of floating solid waste daily. Four boats are expected to be deployed soon in collaboration with the environmental group Clean
“This is one of many projects we will soon be launching to permanently restore and revive the lake,” Yusoof said in a post on X, praising the organisation’s innovative role in eco-friendly solutions.
Adding another dimension, the Ministry of Defence has greenlit plans to reintroduce seaplane operations at the Beira Lake water aerodrome. Cinnamon Air, operated by Saffron Aviation (Pvt) Ltd, will lead the initiative, offering both scheduled and chartered flights. Defence Secretary Air Vice Marshal (Retd) Sampath Thuyacontha stressed that boosting domestic aviation is key to supporting tourism and hospitality, giving travellers faster, scenic connections in and out of Colombo.
Together, these moves signal a renewed push to finally deliver on the Beira Lake’s long-touted potential turning the area into a vibrant urban, recreational, and tourism hub at the heart of Colombo.
