Urban Revival Project has been inaugurated for providing the housing requirements of the people living in the colonies with the least facilities in the Colombo city. Steps are being taken to obtain US$ 200 million from Asian Infrastructure Facility Investment Bank for this project.

Accordingly, the Cabinet of Ministers approved the proposal tabled by the Hon. Prime Minister as the Minister of Urban Development, Water Supply and Housing Facilities for awarding the contract for planning and construction of the remaining construction work of the 624 housing project situated at Colambage Mawatha, Kirillapone to Maga Engineering (Pvt.) Limited as per the recommendation of the Standing Procurement Committee appointed by the Cabinet of Ministers by utilizing a portion of the funding mentioned above.