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Friday, March 31, 2017

Sri Lanka Denied Freehold Status For Chinese, Allowed Only 99 Year Lease

The Chinese super developer 'CCCC' or China Communications Construction Company is building an RM57 billion (US$13 billion) mega-port and coastal development  in Sri Lanka (just like in Melaka, Carey Island and Johor).

However the Sri Lankans did not allow the Chinese any freehold land status. 
They only gave the Chinese '99 year leasehold land status".  
And the Chinese agreed.  

Here be the news :

Chinese Port City in Sri Lanka to attract US$13bn (RM57b) investment 

view of Colombo Port City site Sri Lanka March 30.— Reuters
Chinese real estate project attract US$13 billion investment from 2018

US$1.4bn Port City by China Communication Construction Company (CCCC) 

part of Beijing's modern-day “Silk Road” across Asia

President Sirisena restarted waterfront development 
biggest foreign direct investment in Sri Lanka in 2016

Liang Thow Ming, chief sales officer of CHEC Port City Colombo 
company that handles project for CCCC

new land reclaimed from sea 
1/3 of 269-hectare (665-acre) site reclaimed from sea 
reclamation to be completed by end 2019 
Sand dredged from sea at "Colombo Port City" 
deliver first site for construction by end 2018,” Liang told Reuters
company anticipated US$13bn (RM57b) investment 
housing, marinas, health facilities, schools over 30 years

positioning port city as hub for whole of South Asia
huge market and region growing very fast,” Liang said
50% of land for housing, 30% commercial and rest other activities

Sri Lanka rejected proposal for 20 hectares freehold land to CCCC 
Chinese firm was given land only on a 99-year lease

My comments :   Sri Lanka itu maybe less bodoh than our folks.  
They allowed the Chinese 99 Year lease only.
And the Chinese agreed !

Why do the locals always have to be so stupid? 

Mubadalla lah, Unta Shaggers lah, JoLo lah, Liwat-me lah. Now Freehold land lah !

Betoi kah orang kata DNA depa ni bahalol ?

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