Sri Lanka’s Shaw Wallace and Hedges PLC plans to secure a 99-year lease on its Colombo property from the Urban Development Authority, a report said. An extraordinary general meeting of shareholders has been fixed for September 03, to approve the sale of 264.65 perches of prime Colpetty land for 1.85 billion rupees in order to continue the stalled development of "Mayfair City" – two 30-storey towers comprising 307 luxury residential apartments.
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(Source: LBO)
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(Source: LBO)
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