Kalpitiya Tourist Zone:

Investors get 12 islands on lease

The Government has decided to lease 12 islands in an around Kalpitiya to build tourist hotels and resorts. The total extent of land to be leased is 5,500 acres.

Sri Lanka Tourist Board Chairman Dr Nalaka Godahewa said that all legal and other formalities for the transfer of these lands will be finalized within a month.

The land will be leased for 35 years initially. Extension of the lease would be considered depending on the success of the investors.

The Tourist Board intends to guarantee the rights of investors and to give special tax concession to those who invest over US$ 500,000. He said that Indian investors are expected to invest 300,000 - 400,000 US dollars