Sri Lanka: Support to Colombo Urban Regeneration Project

approved

The Project supports the implementation of Urban Regeneration Program Phase-III, but with significant improvements, such as improvements in technical design, resettlement and post-resettlement policy, housing maintenance arrangements, innovation in redevelopment approach, and review of longer-term sustainability of public intervention in housing. The Project comprises three components:   Component 1: Housing Construction. Supports the construction of about 5,500 affordable housing units for underserved communities in multi-story apartment buildings;   Component 2: Land Redevelopment. Maximizes the revenue from the land that will become available after the households from the underserved communities move into the new apartment units constructed under the URP; and    Component 3: Technical Support and Project Management. Supports project management and other measures to improve implementation of the URP.