Business Times

Government to abide by Shangri-La agreement

The Sri Lankan Government has agreed to abide by the Shangri-La agreement after the Hong Kong-based hotel company complained that some changes were being made that violates the deal.
The authorities had planned to allocate a 5- acre block of land adjoining the Beira Lake at Galle Face, and in front of the Shangri-La hotel site to another international hotel chain which was a violation of the agreement with Shangri-La, company sources said, adding that this green belt was to kept untouched under the pact with Shangri-La.

The assurance of no changes being made was given by the government authorities to a visiting team from the hotel headed by Stanley Wong a director of the group, when they held discussions with Treasury Secretary Dr. P.B. Jayasundara, senior government and BOI officials in Colombo during the last few days.

Government officials assured that even if another tourist hotel is to come up in the area, they will not allow that building to obstruct the scenic view front of the proposed Shangri-La hotel.
The balance part of the land will be used as a common amenities and green area bordering a freshwater lake near the beachfront, without changing the original plan, the officials explained to the visitors.

Construction work on the 10-acre luxury hotel complex including high quality residencies and high-end shopping mall and the Shangri-La Hambantota leisure project will begin shortly. According to the agreement the project construction period is three to 3 1/2 years, company officials said.

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