Colombo Port City: New Development Regulations Approved š
The Cabinet of Ministers has approved amended Colombo Port City (Development Control) Regulations to align with evolving investment needs and planning requirements. The proposal, submitted by President Anura Kumara Dissanayake, seeks to enhance regulatory clarity for the Special Economic Zone (SEZ). ā¢ Key Regulatory Revisions: The latest amendments, based on 2025 recommendations, target three critical areas: Land Area Adjustments: Modifications to plots initially encompassing coastal zones. Vertical Limits: Revisions to maximum permissible building heights. Land Use Matrix: Refined categorization for permitted activities within the city. ā¢ Evolution of Controls: These updates follow the original 2023 regulations. The new framework aims to streamline real estate and infrastructure development as the project transitions into a more active commercial phase. ā¢ Strategic Impact: By modernizing development controls, the government aims to meet high-end investor expectations in sectors like ICT/BPM, offshore banking, and hospitality. This ensures the 269-hectare project remains a competitive regional hub for foreign direct investment (FDI).