Krrish square saga plods on
View(s):The government is considering an option of handing over the land allocated to the delayed Krrish project in Fort to another investor, authoritative sources revealed.
The process, being studied, would involve the new investor paying the rental upfront and that money being used to return the money Krrish has already paid as part of the lease rental.
At least two big Chinese and Saudi Arabian foreign investors have approached the government to take over the property by settling the lease payment, their local agents told the Business Times.
The Saudi Arabian investor is to visit the island next month to explore the possibility of investing in a similar mixed development project in Sri Lanka and he is interested in the Transwork House property, his local agent said. The Chinese investor linked to a casino group in Las Vegas is also lobbying to secure the same property in Fort to build a high rise luxury hotel and apartment complexes with casinos. Meanwhile work at the Krrish office has come to a standstill Business Times reporter Raj Moorthy discovered after a visit to its office.
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