Lake Resort Development

Dedduwa - Galle

Galle

LOCATION

~1,700 Acres

Land Extent

USD 500 Mn

MINIMUM Investment

Project overview

The “Dedduwa” project has potential to be the only one of its kind in Asia. It is based on the concept of a nature-immersive, conservation-based, experientially rich, leisure sector development that will become a showpiece for the country.

Located in Southern Sri Lanka, the 1,700-acre site is adjacent to the Dedduwa Lake, in close proximity to the Bentota Tourism Zone. A rich eco-system comprising paddy, marsh, wetlands and mangroves provides a quiet, serene and rural atmosphere featuring interesting biodiversity.

The site is one hour’s drive from Colombo, and 1.5 hours from the Bandaranaike International Airport. Alternatively, it can be reached in 10 minutes from a sea-plane landing zone in Bentota. The project aims to connect Bentota with Galle via a waterway that would create a tourism-based economic corridor. This development will partially address the demand for at least 30,000 rooms needed to meet the Gov ambition of 2X 2019 tourist arrivals in the next 5-7-year period.

Project incentives:

Income tax holidays under the Strategic Development Projects (SDP) Act for up to 10 years based on investment specifics.

Waiver of border tariffs & sales taxes on construction material including exemption from CESS. (cost savings of 30% – 40%)

Exemptions from VAT for services in respect of inbound tours.

Land Agreement/ownership: 30 years lease from the Government of Sri Lanka

Condominium units can be transferred on a free hold basis

Other incentives:

Dividends to non-resident entities are exempt from income and withholding taxes

Property and wealth taxes are not applicable in Sri Lanka

Sri Lanka enjoys double-tax treaties with 46 nations
100% repatriation of capital and profits permitted

Strategic location

A rich eco-system one hour’s drive from Colombo, 1.5 hours from the Bandaranaike International Airport and one hour from Galle Harbor.