📈 Govt. Eyes 2027 Budget to Revive ~5,000 Stalled Housing Projects

• Overview: The Government of Sri Lanka is considering funding allocations under the 2027 Budget to complete nearly 5,000 abandoned housing units initiated under previous administrations. • Review & Assessment: • Projects were previously stalled due to non-disbursement of allocated loans and grant funding. • A five-member committee, co-chaired by two former Ministry Secretaries, is assessing project viability and identifying units immediately suitable for occupation. • Final decisions on project completion will depend on the committee's report. • Family Assistance & Sector Support: • A separate financial support program will launch next year to assist 2,000 families in completing partially built homes. • Special stakeholder meetings will address targeted initiatives, including low-income urban housing in the Colombo District. • Economic Context: This move aims to expand national housing stock and revitalize the housing & construction sector by utilizing existing unfinished assets.