High-Rise Mixed Development Project 5

Beira Lake Intervention Area Development Plan

Colombo Fort

LOCATION

~1 Acre

Land Extent

USD 96 Mn

Minimum Investment

Project Overview

Colombo, the country’s commercial capital, has been consecutively ranked as South Asia’s Best City to Live in by Mercer, where attractiveness for businesses is based on high-quality human capital and competitive costs of doing business. This property is located in the core of the CBD and has close proximity to the Colombo Commercial Port.<br>

Proposed as a high-rise mixed development project by the Urban Development Authority, the property aims to promote and enhance tourism related activities around the area. It has extensive development opportunities to cater to high tourist demand-based activities around the Beira Lake and is situated in close proximity to the CBD and Port City, in addition to the Port.

Since it has also been identified under the Beira Lake Intervention Area Development Plan, the property will facilitate new visual linkages with boulevard road areas dedicated for walks, jogs, leisurely strolls and bicycle rides and the green promenade will be extended around to facilitate ease of public access to the lake.

The site will be accessible from D.R. Wijewardhana Mawatha, with proximity to the port, educational facilities, cultural landmarks, financial centers, and major transportation facilities and walking distance to Colombo Fort & Railway Station.

The property has readily available utility services such as water, electricity, sewer and wastewater lines.

Estimated investment value is USD 96 Mn and the project will commence in 2023/2024

Project/ownership structure

Project Company can facilitate potential partnerships PPP with interested parties locally and internationally.

Project incentives:

Government Tax Concessions
Speedy approval process with the assistance of the UDA
Readily available basic infrastructure to the site
Government assured land tenure security

Strategic location

Situated at the core of the CBD the property has extensive development opportunities to cater to high tourist demand-based activities around the Beira Lake and in close proximity to Port City, in addition to the Port.
(Presently occupied by C W Mackie PLC)