Mar 02, Colombo: The government of Sri Lanka has decided to allocate state lands to the private sector to construct condominiums.
Laws to facilitate this move are to be introduced in parliament shortly, the local media reported.
The new legislation will be introduced as regulations under the Land Development Ordinance, Land Grants (Special Provisions) Act and the State Lands Ordinance.
The law is being drafted in line with a recommendation made by Lands and Lands Development Minister Janaka Bandara Tennakoon to the Cabinet of Ministers.
The decision to assist the private sector in building condominiums is expected to help increase the housing facilities in the country.