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| Sunday, 27 March 2005 |
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Business |
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News Business Features
Editorial
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Ceylinco Developers mulls more township projects in main cities by Hiran H. Senewiratne A pioneer company in the township development concept or Millennium City project, Ceylinco Developers Ltd (CDL) plans to have more township projects in rural areas in main cities outside Colombo. After the success of the Aturugiriya Millennium City pilot project, we have been inspired to popularise this concept throughout the country, CDL Deputy Chairman W.G.B.M. Ranaweera said. He said that at present more than 2,000 units have been sold by the company, 1,300 units in Aturugiriya, more than 400 units out of 1,000 units in Ja-ela and several units in Kurunegala. Ranaweera said that a major problem encountered by the company to expedite the business was not having a "One Stop Shop" for a regulatory framework. He called upon the government to establish a "One Stop Shop" for regulatory framework especially on plan and land approvals to speed up the work in the entire construction industry. The township business has a lot of potential in the country due to the ever increasing housing needs, but new players are unable to enter this business due to the regulatory problem, he said. Ranaweera said that some regulatory frameworks such as approval of lands from local government bodies has also caused a big delay for the entire process. He said that having a One Stop Shop will reduce unnecessary delays to a great extent, which will move the business forward in the country in a big way. Having a One Stop Shop specially for BOI approval projects will be an effective and practical solution for the growth of the industry, he said. "We lose a lot of manpower and resources when we want to get approvals for sites," Deputy Chairman Ranaweera said. He also said that the government should take steps to change the regulatory framework to streamline the construction industry in the country, where it has a great potential in the country. The company has introduced many easy payment schemes for buyers with low
interest rates and down payment schemes. |
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