4.0469 hectares of land sold to Shangri-La Hotels: Minister

November 25, 2011 05:46 pm

The Minister of Land and Land Development, Janaka Bandara Tennakoon today (25) said that 4.0469 hectares of land has been sold to Shangri-La Hotels Limited from 2005 to this year.

In response to a question by UNP MP Dayasirir Jayasekara at Parliament today, the Minister revealed that as the first phase 2 .4361 hectares was sold for a sum of US$75 million, as Rs.8,593,750 per perch with the local value reaching Rs.8,250 million.

Under the second phase 1 .6108 hectares of land was sold for US$ 50 million, which amounts to 5499 million in Sri Lankan rupees, Minister Tennakoon stated.

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