The Committee on Public Enterprises (COPE) has uncovered an unauthorized lease of a 6-acre land belonging to the Urban Development Authority (UDA), resulting in a government loss of Rs. 330 million. The land, located on D.R. Wijewardhana Mawatha, Fort, was leased for Rs. 12 billion for 99 years in 2019 without the board of directors' approval.

During a recent COPE session in Parliament, it was revealed that the lease agreement included additional conditions not present in the original terms approved by the board. Consequently, disciplinary action is being taken against the UDA's legal director involved in drafting the agreement.

COPE Chairman Rohitha Abeygunawardena has directed officials to submit a formal report on the incident within two weeks. Additionally, officials from the National Audit Department highlighted issues in the UDA's accounting system and the questionable valuation of its investment lands. They also recommended transferring ownership of the land where the Parliament complex is situated from the UDA to Parliament.

COPE has called for a detailed report on all UDA investment lands to be submitted within two weeks.