State Minister for Urban Development and Housing Arundika Fernando announced the commencement of five housing projects in Colombo aimed at benefiting the low and middle-class population.
He said that this substantial undertaking is estimated to cost $350 million, with a significant commitment from the Chinese Government secured through President Ranil Wickremesinghe.
"To date, $200 million have already been received for this ambitious project, which aims to construct 2,500 houses," he said, addressing a press briefing at the Presidential Media Centre recently.
State Minister Fernando noted that housing projects initiated by the Housing Development Authority, currently on hold, will be reinitiated as part of the new budget for the year 2024.
He added that the Lowland Development Authority is playing a significant role in flood control efforts within Colombo and that initiatives are underway to safeguard mangroves and wetlands.