Belluna Co. Ltd, Japan and Asia Capital PLC have paid Rs. 4 billion to acquire the former Government Supplies Department premises (opposite Lake House) from the Urban Development Authority (UDA).
The total extent of this land is 381 perches. Belluna Japan Chairman Kiyoshi Yasuno speaking to Daily News Business said they will build a mixed development project in this land investing US$ 350 million. He said that that they also hope to use the Beira Lake for development under this mixed development project.
“We will name it as the Lake House mixed development project and would prepare the plan for it by the end of this year.” This land was earmarked by Australian business tycoon James Packer to build a mixed development project including a casino under the previous government. SS
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