The Board of Investment of Sri Lanka (BOI) has signed an agreement for a project for a mixed development tower complex with India’s Krrish Group at the old Transwork House property in Fort. “Krrish Group is a diversified company whose activities span a wide range of sectors. One of its best known products is Cobra Beer, [...]

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The Sundaytimes Sri Lanka

Transworks Towers, mixed development project, to transform Colombo Commercial District

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The Board of Investment of Sri Lanka (BOI) has signed an agreement for a project for a mixed development tower complex with India’s Krrish Group at the old Transwork House property in Fort. “Krrish Group is a diversified company whose activities span a wide range of sectors. One of its best known products is Cobra Beer, which is one of the fastest selling brands in the UK. They are also leading real estate developers in New Delhi best known for ultra-luxurious residential projects,” the BOI statement said.

The project and its approval by the cabinet were exclusively reported in the Sunday Times last week. Under the agreement, the investor will build a sprawling complex that will consist of four high rise towers at Transworks House in the Fort commercial area. The land will be provided to the investor under a 99 year lease.

“The project is for a mixed development complex which will include high end residential apartments and office space. Among the facilities that the complex will provide include a club lounge for high end customers, a state-of-the-art Spa and an equally state-of-the-art Business Centre, with ultra-modern facilities,” the BOI statement added.

The 4th Tower will be consisting of a Retail Shopping Complex and Office Complex and also a 7-star hotel for high-end customers. “The complex will have facilities which will be on par with the highest world standards,” the BOI said. Chairman/ Director of the BOI, M.M.C Ferdinando said “This is a very significant investment from India which will result in the revitalizing of the Fort area of Colombo that is already undergoing many changes with the construction of new hotels and other improvements to this economically vital part of the city.

This project will contribute to making Colombo an attractive destination for business and help attract trade and investment from Fortune 500 companies.” The BOI said the heritage building (Transwork House) will be renovated keeping intact its heritage character.




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