Govt. Invites Investment for Colombo Tech Innovation Hub 📈

The Cabinet of Ministers has officially approved calling for investment proposals to transform a prime land parcel in Colombo 10 into a dedicated hub for technological innovation and intellectual product development. • Project Scope: A mixed-development initiative focused on ICT/BPM and digital services, situated on approximately 1.3 acres (1 acre, 1 rood, 12.4 perches) of UDA-owned land on Maradana Road. • Strategic Objective: The hub aims to foster local talent and encourage the creation of home-grown, technology-driven products specifically tailored for the domestic market. • Economic Impact: This move is designed to drive Sri Lanka’s digital economy by converting underutilised urban land into a high-density center for innovation and employment. • Background: The project follows recommendations from a special committee appointed in April 2025 to identify strategic Urban Development Authority (UDA) assets for national growth.