Asia’s famous Shangri-La Hotels group has finalized its Colombo leisure project with an investment of $500 million, Finance Ministry sources said. The Memorandum of Understanding has been signed with the Sri Lankan government and construction work will begin early next year at the 6-acre army grounds opposite the Galle Face Green in Colombo.
A team of representatives from the Hong Kong-based leisure group is now in Sri Lanka to prepare the ground work towards launching this massive project, a senior official said. The Shangri-La representatives also met Defence Secretary Gotabaya Rajapaksa on Friday and held discusstions on preliminary arrangements of the project. They also visited Hambantota to identify suitable land to build another super luxury hotel, he revealed.
Construction work on a luxury hotel, a commercial complex and a apartment will begin early next year under the Shandri-La project. The Army camp facing the Galle Face will be shifted to a new location at Akuragoda in Battaramulla making way for other development.
The official said that a 7-member committee tasked with approving investment has given the green light for the proposal submitted by Shangri-La. |
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