The properties would be developed under three investment portfolios, namely “Heritage Square in Colombo Fort”, “Real Estate Development”, and “State-Owned Hospitality Sector”. Dr. Rajapakshe explained when the Government is dealing with highly valuable lands such as the ones that have been earmarked for development by Selendiva Investment (Pvt.) Ltd, it is necessary to have some form of legitimacy for that company, and such legitimacy should be given by Parliament. Ltd., the Hotel Developers (Lanka) Ltd., and the Grand Oriental Hotel have been vested with Selendiva Investments at present. That is what Selendiva Investment was formed for,” Dr. Godahewa said.
