The Urban Development Authority (UDA) is implementing this project with a capacity for parking more than 1,500 vehicles within the city of Colombo. The extent of the land where this project is being implemented near the Gold Center at Colombo 11 at No. 80 Abdul Cader Mawatha, is three roods and 9.25 perches. Development work is being carried out by NEM and NE partnership companies and construction of the project should be completed within two years the tax period is 30 years. In this project comprising 10 floors including the ground floor, six floors will be allocated for the car park while the balance four floors will be reserved for commercial purposes. The cost of the project is Rs. 1.85 billion and the 30-year tax value as estimated by the chief government valuer is Rs. 675.50 million
The UDA is planning to construct multi-storey car parks in several selected cities with extreme traffic congestion, according to the manifesto Saubaghyaye Dekma based on the instructions of President Gotabaya Rajapaksa and the guidance of Prime Minister Mahinda Rajapaksa.
While arrangements were made to construct multi-storey car parks in Colombo city to minimize this situation the UDA has also planned to implement mixed development projects while adding commercial developments within these car parks, in addition to the parking of vehicles.
The first project under this plan is being constructed by Access Engineering at Union Place, Colombo 02 and proposals have been called concerning the project to be implemented near the Bogambara Stadium in Kandy. Arrangements are also underway to call for proposals for constructions within this year at Battaramulla Sethsiripaya Phase 1 and Hospital Square near the Norris Canal Road.