LUXURY HOTEL DEVELOPMENT
PORT CITY
Port City, Colombo
LOCATION
6 Acres
Land Extent
USD 229 Mn
Minimum Investment
Port City – Your Gateway to South Asia
Port city is a mega scale master-planned urban development initiative that aims to expand Colombo’s Central Business District. 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.https://www.portcitycolombo.lk/
The appeal of Port City Colombo is further enhanced by
- A Special Economic Zone law to promote economic activity in the Service Sector (Offshore Banking, Regional Head Quarter Operations, ICT, Knowledge and Tourism Related Services).
- A Proposed world-class convention center and the new Financial Center under construction will attract significant MICE footfall.
- The Projected doubling of Sri Lanka’s per-capita GDP from $4,000 to $8,000 in this decade will create a significant affluent class looking for high-quality living.
- The Extension of the existing CBD through structured investment opportunities in commercial, high-end residential and leisure oriented real estate.
- Modern high-quality infrastructure to foster innovation and talent development.
- Access to the national expressway network via the elevated highway and access to the country’s rail, air and sea transport network
Project Overview
Located at the southeast corner of the Island Living District, this unique address overlooks the Indian Ocean with a front row view of the Marina, and panoramic views of the existing CBD and financial district – all in all, making for a breathtaking picturesque view of tropical beachfront Sri Lanka and a rapidly developing commercial capital.Project/ownership structure
Foreign investors are permitted 100% ownership of real estate investment.
Project Company can facilitate potential partnerships (JV, PPP) with interested parties locally and internationally.
Project incentives:
Income tax holidays for up to 25 years based on investment specifics.
Waiver of border tariffs & sales taxes on construction material (cost savings of 30% – 40%)
Land Agreement/ownership: 99 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
Access to talented human capital with a 92% literacy rate that is 30% lower in cost vs region
Strategic Location
Located at the southeast corner of the Island Living District, this unique address overlooks the Indian Ocean with a front row view of the Marina, and panoramic views of the existing CBD and financial district – all in all, making for a breathtaking picturesque view of tropical beachfront Sri Lanka and a rapidly developing commercial capital