Cabinet Greenlights Long-Term Leasing of Presidential Residences for Tourism Investment
Sri Lanka's Cabinet of Ministers has approved a landmark proposal put forward by the President to open five official presidential residences to private investors through long-term lease arrangements, in a bid to boost the country's tourism sector.
Properties on Offer
The five presidential properties earmarked for leasing are located in Bentota, Kataragama, Mahiyanganaya, Embilipitiya and Anuradhapura — regions that hold significant cultural, religious and scenic value and are already well-established on Sri Lanka's tourism map.
Under the approved resolution, the government will invite proposals from investors interested in developing tourism-related projects on these premises under long-term lease agreements. The move signals a clear intent by the administration to repurpose state-owned assets that have largely remained underutilised.
A Step Towards Maximising State Assets
The decision reflects the government's broader strategy of unlocking the economic potential of publicly owned properties rather than maintaining them at state expense. By channelling these prestigious residences into the tourism industry, authorities hope to attract meaningful private investment while generating revenue for the government.
The selected locations span the island's key tourism corridors — from the coastal resort town of Bentota in the west to the ancient capital of Anuradhapura in the north-central province — offering investors a diverse range of development opportunities, from heritage hospitality projects to eco-tourism ventures.
Significance for Sri Lanka's Tourism Recovery
Sri Lanka's tourism industry, which has faced considerable setbacks in recent years, stands to benefit from fresh private investment in high-profile locations. Industry observers note that properties with historical and governmental prestige could attract premium hospitality brands or boutique tourism operators seeking distinctive venues.
Further details regarding the terms of the lease agreements, the investment thresholds required and the timeline for calling proposals are expected to be announced by the relevant authorities in due course.
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which investors though, local or foreign? that part not clear
finally doing something useful with those empty houses good move
useful? wait and see who gets these leases, usual suspects only