An Assesment of the future demand for commercial floor space in the C.B.D. of Colombo and an economics evalution of the echelon squre project

Abstract

This study has been undertaken in partial fulfilment of the academic requirement for the M.Sc. (Town and Country Planning) Degree Course. The chosen area of study comprises a specialised aspect of urban development planning which has assumed an increase importance in Sri Lanka. The study itself consists of an assessment of future demand for commercial floor space in the Central Business District of Colombo and an economic evaluation of one of its projects in Echelon Square. The study has been undertaken in three Parts. Part one which comprises three chapters has dealt with the background to the assessment of demand for commercial floor space in the Central Business District of Colombo. In this connection Chapter One has discussed the National Development Perspectives in the context of urban growth. Against this Natidnal background, Chapter two has outlined the profile of commercial sector activity in the Colombo Metropolitan Region. Thereafter, the analysis in Chapter Three has made an assessment of the future demand for commercial floor space in the City's Central Business District. The three chapters of Part One have clearly established that a potential demand for commercial floor space in defined categories does exist in the Central Business District. Part Two of the study has utilised the product of Part One and has made an economic evaluation of the Echelon Square Project in the Central Area Development Programme of the Urban Development Authority. For this purpose Part Two comprises two chapters. Thus in chapter Four, a cost benefit analysis of the private investment in individual building projects in Echelon Square has been discussed to determine their investment feasibility. Thereafter, in Chapter Five a critical analysis of public benefits and costs of these same building projects have been discussed. Part Three of the study consists of the conclusions and recommendations arising from the overall study. The study also includes Appendices and a Bibliography