Crescat Boulevard to be revamped
View(s):Asian Hotels and Properties PLC (AHPP) is going ahead with a major investment in refurbishing the Crescat Boulevard, one of the oldest malls, situated at the Cinnamon Grand hotel premises, starting in December 2020.
“The face of Colombo has seen such radical changes since Crescat Boulevard was first opened,” said Nayana Mawilmada, Sector Head of the Property Group of John Keells Holdings which manages the property, in a media release.
“It has been 23 years since we opened our doors, and that is a very long run for a shopping mall. After this length of time, the building is in need of a refurbishment, one we have been putting off for some time. With all the new malls opening in Colombo, we also feel it is time to reconsider its competitive positioning as well. Naturally, we believe that more can now be done to take advantage of this property’s remarkable location and deliver value to our stakeholders. Our goal is to once again create a unique, high quality experience that can cater to the changing dynamics of an increasingly sophisticated market, thereby raising the profile of the city of Colombo itself.”
In the interim, operations at Crescat Boulevard will continue as normal, with visitors being able to browse and shop until the end of December 2020, when the refurbishment project will commence.