New UDA sub­sidiary to mar­ket its prop­er­ties for more rev­enue

Sunday Times (Sri Lanka) - - NEWS - By Damith Wick­re­masekara

The Ur­ban Devel­op­ment Au­thor­ity ( UDA) is to form a sub­sidiary to man­age venues un­der its purview, to boost its in­come, said a se­nior of­fi­cial.

UDA Chair­man Ja­gath Mu­nas­inghe told the Sun­day Times that, un­der the ex­ist­ing Act, they are em­pow­ered to form a sub­sidiary to op­er­ate un­der the ap­proval of the UDA Board.

"The main pur­pose is to in­crease rev­enue through in­come gen­er­a­tion projects," he said.

"At­tract­ing more tourists, pro­vid­ing venues for in­ter­na­tional events and hav­ing pro­mo­tions to at­tract the pub­lic, in a man­ner that in­creases in­come are some of the pro­pos­als," he said.

He said, cur­rently, the UDA does not have the mech­a­nism such as mar­ket­ing teams to un­der­take the task but, if a com­pany is formed, they will have the ca­pac­ity to un­der­take such projects.

The Ar­cade at Colombo 7, the Dutch Hos­pi­tal in Fort, Gafoor Build­ing, Gold City ( Old Fish Mark­ert) , part of Galle Fort area, the shop­ping com­plex in Nuwara Eliya, and other Rest Houses un­der the UDA, where the lease agree­ment is near­ing ex­piry, are among the areas to be man­aged by the newly formed com­pany.

Mr Mu­nas­inghe said the UDA has also iden­ti­fied cer­tain areas in­clud­ing Visum­paya to be de­vel­oped.

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