Sri Lanka's Cabinet has authorized the leasing of five underutilized presidential residences to private investors for tourism development, seeking to generate revenue while reducing state maintenance costs.

The Cabinet of Ministers has approved a proposal to lease five Presidential Residences across the country to private investors for long-term tourism projects. According to Cabinet Spokesman Minister Dr Nalinda Jayatissa, the properties targeted for leasing are located in Bentota, Kataragama, Mahiyanganaya, Embilipitiya, and Anuradhapura.

These residences were originally constructed for official and recreational use by previous presidents but remain unused by the current administration. Despite their underutilization, the properties incur substantial ongoing expenses for maintenance, security, and related operational costs, all managed through the Presidential Secretariat.

The initiative aims to address these financial burdens by integrating the properties into the tourism sector through long-term investment partnerships. By inviting proposals from suitable investors, authorities intend to generate revenue from the residences while simultaneously preserving their cultural and architectural heritage. The decision follows recommendations from a government committee tasked with identifying productive uses for various state-owned bungalows, houses, and residences.

The leasing arrangement is expected to transform these properties into economically productive assets, reducing the financial drain on state resources while contributing to Sri Lanka's tourism development objectives.