The Sri Lankan government last week announced it would allow foreign citizens to buy property, lifting a ban imposed by the previous government in 2014.
Arguing that foreign investment was much needed in the construction sector, the finance minister Ravi Karunanayake was quoted by AFP as saying, "to further incentivise such investment, we will remove freehold right restrictions from the ground floor."
"I wish to lay emphasis on the fact that the government is committed to eliminate existing socio-economic gap between North and East with the rest of the country by 2020," he added.
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