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Boi Signs Agreement For New Apartment Complex In Colombo

The Board of Investment of Sri Lanka signed an agreement with HNJ Towers (Pvt) Ltd to build a mixed development project located at R A De Mel Mawatha, Colombo – 3.

The agreement was signed on behalf of the Board by Mr. Hemasiri Fernando, Chairman of the BOI. Mr. Imzaan Haqque, Chief Operating Officer of HNJ Towers (Pvt) Ltd signed on behalf of the company.

When completed HNJ Towers (Pvt) Ltd will provide employment for 14 staff members. The total value of the project is US$ 14.82 million.

Speaking about this project Mr. Imzaan Haqque stated “This is a mixed development project in Colpetty which could be described as affordable luxury in terms of the price of the apartments. In fact already 90% of the apartments are sold out because of the concept of sale and lease back which we have introduced. The complex is well equipped, as there will be a food court and a 24 hrs. convenience store. It could be compared to a limited service hotel. The project is a mixed development service apartment complex. It has an excellent location as it is on Duplication Road and close to embassies and the British Council.”

He added “the project name is Raintree Residencies and it will be a very green project with a large atrium. This will contribute towards making Colombo a greener City.”

In addition BOI signed supplementary agreements with existing BOI enterprises for an apartment complex, furniture manufacture, production of coconut milk and coconut water for export and manufacture and production of finished and semi finished electronic products for export.

Dilip S Samarasinghe
Director (Media & Publicity)

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