The iconic "Visumpaya" building, formerly used as the residence for numerous state leaders, is set to undergo a transformation into a boutique hotel.

The Urban Development Authority (UDA) and Azotels Hospitality Limited have signed a Memorandum of Understanding (MoU) today at the UDA Auditorium, marking a milestone in the project.

The agreement was formally signed by Nimesh Herath, Chairman of the Urban Development Authority, and Adrian Zecha, Chairman of Hong Kong-based Azotels Hospitality Limited. Under the terms of the MoU, Visumpaya will be leased to Azotels Hospitality Limited for a period of 50 years. The renowned hospitality company, in partnership with Hunas Holding Pvt. and a Japanese consortium, will operate the site as a luxury boutique hotel.

The decision to repurpose Visumpaya as a hotel was made in line with the advice of Mr. Prasanna Ranatunga, Minister of Urban Development and Housing. The minister has been actively involved in implementing a special program to preserve and utilize historically significant lands and buildings, emphasizing the importance of maintaining their cultural heritage.