While the Urban Development Authority (UDA) plans to allocate 1.5 acres of the five acre land it owns in the Kottawa town for a new bus stand, the balance 3.5 acres is to be provided to state and private banks to establish their branches.

The Bank of Ceylon and the National Savings Bank have already requested for their plots of land and the UDA expects the other banks to follow.

The ultimate plan of the UDA is to see all the banks, both state and private in the Kottawa town being established in one area like a ‘bank zone.’