A 12-storey housing complex comprising 624 housing units has been completed in Kolonnawa under a Rs. 5,784 million housing project funded by the Asian Infrastructure Investment Bank (AIIB).
According to the Ministry of Urban Development, all arrangements have now been finalized to hand over the completed housing complex to the public.
The project represents one of the latest investments in urban housing infrastructure, aimed at providing improved living conditions for families while supporting the country’s long-term urban development plans.
The housing complex was constructed with financial assistance from the Asian Infrastructure Investment Bank at a total cost of Rs. 5.784 billion.
Modern Housing for Urban Communities
The newly completed 12-storey development includes 624 housing units designed to provide permanent housing for eligible beneficiaries.
Large-scale apartment projects such as the Kolonnawa Housing Complex form part of wider efforts to address housing demand in densely populated urban areas where land availability is limited.
By developing multi-storey housing, authorities aim to make more efficient use of available land while improving access to modern residential facilities and essential infrastructure.
AIIB Support for Infrastructure Development
The project was financed with support from the Asian Infrastructure Investment Bank, reflecting continued international cooperation in funding urban infrastructure projects.
Investment in housing infrastructure not only improves living conditions but also creates employment opportunities during construction and supports economic activity through the building sector.
Projects of this scale also contribute to long-term urban planning by replacing inadequate housing with safer and better-planned residential communities.
Project Ready for Public Handover
Deputy Minister of Urban Development Eranga Gunasekara visited the completed housing complex this week to inspect the facilities before the project is officially handed over.
According to the Ministry, the inspection confirmed that construction has been completed and preparations for the public handover are now in place.
The completion of the Kolonnawa Housing Complex marks another step in the government’s urban housing programme, with the project expected to provide improved living standards for hundreds of families while supporting broader urban renewal initiatives.
Developments Ministerial Update
Last modified: June 26, 2026
