The management of the South Asian Institute of Technology and Medicine (SAITM) in Malabe to sell its building and the land for a value of Rs. 3.5 billion.

In an advertisement on a website under the Commercial Property section the management stated that the property is ideal for a university or international school.

“3 Acre;1 Root; 38 Perches land in Malabe ideal for university or international school. Two complete, five- story building with one incomplete building with elevator facilities to the top floor and an auditorium that can accommodate 600 attendees,” the advertisement stated.

It is learnt that the authorities were reported to have been planning to sell off its assets to settle its loans.