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Old September 21st, 2016, 08:22 PM   #21
imranalnaseer
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Amazing picture dinojan...10nx
You know this project's fl.. & mtr.. details? ??
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Old September 24th, 2016, 10:56 PM   #22
hasitha gayan
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Old September 25th, 2016, 02:44 AM   #23
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The fraying buildings should be renovated.
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Old October 22nd, 2016, 04:58 PM   #24
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Any idea highet & meter????
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Old October 22nd, 2016, 05:31 PM   #25
tig
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Quote:
Originally Posted by FlashSkies View Post
Is this that tall building?
Answers for all of your questions are usually on the opening post if not somewhere in the thread. If it is not there, unfortunately we do not know.
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Old January 28th, 2017, 06:40 AM   #26
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Is this a new agreement for this project?

One Colombo Project receives 8 acres at Slave Island, special concessions

January 27, 2017, 10:35 pm

By Saman Indrajith

The government has given an eight-acre land in Slave Island to a private company which would invest US D 429.5 million(Rs 64,425 million) to construct a multi-storeyed building complex as a re-development and mixed development project.

The government has granted an income tax holiday for 10 years and a tax exemption for six years to the investing company named One Colombo Project (Private) Ltd, according to a gazette tabled in parliament yesterday.

Chief Government Whip and Parliamentary Affairs and Mass Media Minister Gayantha Karunathilake presented the gazette on behalf of Minister of Development Strategies and International Trade Malik Samarawickrama.

According to the gazette, the One Colombo Project (OCP) shall implement and commence commercial operations in the said area within eight (08) years from the date of the project agreement signed between the Board of Investment of Sri Lanka and the OCP.

The provisions of the Inland Revenue Act No 10 of 2006 relating to the imposition of income tax (under Corporate Income Tax) shall not apply for a period of ten years to the profit of the project other than the sale of apartments and only a tax exemption of period of six years for the income generated through the sale of apartments.

"Dividends distributed to the shareholders out of the exempted profit shall be exempted from the income tax during the said tax exemption period of ten years or six years as the case may be and one year after," the gazette says.

It says: "The company shall be exempted from the payment of Withholding Tax on the following: (a) on the interest on foreign loans taken for capital expenditure and technical fees paid to consultants ; (b) on management fees and royalty payments provided however the total of such charges does not exceed three per cent of the gross operating revenue; (c) on marketing fees provided however the total of such fees does not exceed 1.5 percent of the gross operating revenue; and (d) on incentive management fees provided however the total of such fees does not exceed 10 percent of the gross operating profit.

"The expatriate staff of the project company shall be exempted from the payment of Pay As You Earn tax subject to the restriction that this concession shall apply subject to the maximum number of 15 employees at any given time.

"All imports of project related goods and local purchases of project related goods or services required for the implementation of the projects as approved by the BOI, shall be exempted from the payment of VAT for eight years.

"The project company shall be exempted from the payment and charge of Ports and Airports Development Levy (PAL) for eight years.

The Project company shall be exempted from Construction Industry Guarantee Fund Levy.

The company has also been given an exemption of paying Customs duty on importation of project related items for eight years.

UPFA MP Bandula Gunawardena called on the Chair and asked the Speaker to give a debate on the matter.

- http://www.island.lk/index.php?page_...e_title=159512


Cabinet Decision taken on 2015-02-25

Proposed Re-development and Mixed use Development Project at Slave Island, Colombo 02 - One Colombo (Pvt.) Ltd


- The proposal made by Hon. Kabeer Hasheem, Minister of Highways, Higher Education and Investment Promotion, to review the entire project status of the above project launched to provide a more conducive living standard to the residents living there, with the implementation of a re-development and mixed use development project in a 8 acre land situated at Slave Island, Colombo 02, and to re-commence the process from the beginning in terms of the provisions of the Strategic Development Act, was approved by the Cabinet.

- http://www.cabinetoffice.gov.lk/cab/...ng=en&dID=5962

Tata Housing refutes Sri Lankan govt's plans to review its project in Colombo

March 13, 2015

The company had partnered with UDA, Sri Lanka to redevelop eight acres of land in Slave Island

Tata Housing has termed the Sri Lankan government’s plans to review its property project in Colombo ‘arbitrary’. Media reports say, the government would review the $400-million housing project by Tata Group.

Reacting to the proposed move by Sri Lanka, Tata Housing said: “Such actions by the government discredit the authorities in Sri Lanka that have been engaging with Tata Housing over the past three-and-a-half years and have granted multiple approvals for the projects based on merit.”

- http://www.business-standard.com/art...1200814_1.html
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Last edited by Dueler; January 28th, 2017 at 07:11 AM.
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Old January 28th, 2017, 07:43 AM   #27
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are they not already some ways into the project?



isnt the blue tarp covered building part of tatas project?
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Old January 28th, 2017, 09:35 AM   #28
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Quote:
Originally Posted by Popthepuff View Post
are they not already some ways into the project?



isnt the blue tarp covered building part of tatas project?
Probably the building for the displaced people due to this project.
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Old January 28th, 2017, 02:13 PM   #29
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Yesterday I want to that site
Project going just slow...
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Old January 28th, 2017, 10:02 PM   #30
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Old January 29th, 2017, 04:44 AM   #31
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Sweeping tax concessions for Tata to resume real-estate project

The Government has given the go-ahead for the Indian real estate giant Tata to carry out a re-development and mixed-development project on eight acres of land in Kompannveediya.

The Gazette notification to grant sweeping tax concessions to the project company One-Colombo Project (Pvt) Ltd was published this week.

The company will invest US$ 429.5 million (Rs. 64.4 billion) to construct a multi-storied building complex at the site.

The project was first approved in July 2014 under the previous regime but with the change of government in January 2015, the project was stalled, subject to review. The Cabinet in mid-2015 gave approval to review and resume the project under the Strategic Development Act.

This week, on behalf of Development Strategies Minister Malik Samarawickrama, Parliamentary Affairs and Media Minister Gayantha Karunathilake presented in Parliament the Gazette notification outlining the tax concessions.

It says the company will be granted income tax holiday for 10 years and other tax exemptions for six years.

“The company will also get exemptions from payment of Withholding Tax on interest on foreign loans taken for capital expenditure and on technical fees paid to consultants; management fees and royalty payments, provided, however, the total of such charges does not exceed three per cent of the gross operating revenue; marketing fees, provided, however, the total of such fees does not exceed 1.5 percent of the gross operating revenue as well as incentive management fees provided however the total of such fees does not exceed 10 percent of the gross operating profit,” the Gazette notification says.

The company will also be exempted from the Ports and Airports Development Levy, Construction Industry Guarantee Fund Levy and import duties on project related items for eight years.

- http://www.sundaytimes.lk/170129/new...ct-226678.html
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Old January 29th, 2017, 07:22 AM   #32
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Quote:
Originally Posted by hasitha gayan View Post
Is this Tata housing project for displaced people in this area? cannot be a luxury one.
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Old January 29th, 2017, 08:41 AM   #33
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Quote:
Originally Posted by nilangagamage View Post
Is this Tata housing project for displaced people in this area? cannot be a luxury one.
Exactly my question! What is it? According to the pictures looks luxurious, but the name is "housing project". What is it?
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Old January 29th, 2017, 09:56 AM   #34
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Quote:
Originally Posted by TheSkyscraperNetwork View Post
Exactly my question! What is it? According to the pictures looks luxurious, but the name is "housing project". What is it?
Housing project for the displaced...
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Old January 29th, 2017, 11:30 AM   #35
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Quote:
Originally Posted by MarbleBeach View Post
Housing project for the displaced...
What you see with the blue and white site fence (You can see in past photos more clearly) is the tata housing project..

Any idea what is the housing project for the displaced? So Tata has 2 projects in SL?
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Old January 29th, 2017, 11:52 AM   #36
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Quote:
Originally Posted by EshE View Post
What you see with the blue and white site fence (You can see in past photos more clearly) is the tata housing project..

Any idea what is the housing project for the displaced? So Tata has 2 projects in SL?
Here's the deal during the previous government:

The Indian company will get the land with no lease payment and in exchange has agreed to bear the full cost of building a fully-fledged housing complex on a 3-acre block of land (in the same property) for displaced residents, he told the Business Times separately.
The land value in the area ranges from Rs. 7 million to Rs. 9 million per perch with the average value being around Rs. 8 million, an official of the Valuation Department who wished to remain anonymous, told the Business Times.

Accordingly the total value of 8 acres is in the region of Rs. 10.3 billion and the minimum value of the 99-year land lease would be around Rs. 5 billion, he added. According to the agreement, the housing complex will house 582 families and 100 shop owners who were displaced by the project. This first stage of the innovative project is to be completed within two years.

The total cost for providing alternate housing/commercial units including rental payments for temporary accommodation of the families is estimated to be about Rs. 5,874 million, a senior official said, adding that the cost of building the housing complex for residents has not been estimated as yet.

The total cost of building the housing complex and for providing the house rental of displaced residents for 30 months in other locations till the completion of the housing complex will be borne by the Indian company, Mr. Perera disclosed.

- http://www.sundaytimes.lk/140518/bus...ffs-99239.html

This is the model of the housing project for displaced people being built on the same property.



- http://www.dpjpiling.lk/
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Old January 29th, 2017, 05:21 PM   #37
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Quote:
Originally Posted by Dueler View Post
Here's the deal during the previous government:

The Indian company will get the land with no lease payment and in exchange has agreed to bear the full cost of building a fully-fledged housing complex on a 3-acre block of land (in the same property) for displaced residents, he told the Business Times separately.
The land value in the area ranges from Rs. 7 million to Rs. 9 million per perch with the average value being around Rs. 8 million, an official of the Valuation Department who wished to remain anonymous, told the Business Times.

Accordingly the total value of 8 acres is in the region of Rs. 10.3 billion and the minimum value of the 99-year land lease would be around Rs. 5 billion, he added. According to the agreement, the housing complex will house 582 families and 100 shop owners who were displaced by the project. This first stage of the innovative project is to be completed within two years.

The total cost for providing alternate housing/commercial units including rental payments for temporary accommodation of the families is estimated to be about Rs. 5,874 million, a senior official said, adding that the cost of building the housing complex for residents has not been estimated as yet.

The total cost of building the housing complex and for providing the house rental of displaced residents for 30 months in other locations till the completion of the housing complex will be borne by the Indian company, Mr. Perera disclosed.

- http://www.sundaytimes.lk/140518/bus...ffs-99239.html

This is the model of the housing project for displaced people being built on the same property.



- http://www.dpjpiling.lk/

Yep, this is what i was talking about!
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Old January 29th, 2017, 07:34 PM   #38
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Quote:
Originally Posted by nilangagamage View Post
Is this Tata housing project for displaced people in this area? cannot be a luxury one.
Mainly a luxury project that contains housing development for the displaced people. Instead of evicting people from the land to build the luxury project they will build apartments nearby for the evicted.
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Old January 30th, 2017, 07:50 PM   #39
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This is what I think. There were people in both blue and red highlighted areas. Tata is building the current housing project for the displaced people in red area. So, the blue area is free for another Tata project which could probably be a luxury appartment.

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Old March 5th, 2017, 01:52 PM   #40
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