Sri Lanka, July 28 -- The Cabinet of Ministers has granted approval to a proposal presented by the President to hand over several Presidential Palaces located across the country to suitable investors on a long-term lease basis. The initiative aims to call for proposals to implement investment projects within the tourism sector utilizing these properties.

Historically, several Presidential Palaces have been maintained in various parts of Sri Lanka for the official duties and personal leisure of the President. However, these residences are not being utilized for the duties of the current President. These properties possess exceptionally high architectural and historical value, coming fully equipped with comprehensive facilities and attrac...