Port City Colombo


27 Acres

Land Extent

USD 362 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.


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 in the Island Living District, this villa development project area is surrounded by the sea, beach, canal and the central park that provides residents with leisure and tranquility. Complete with a luxurious backdrop of a private waterfront and breathtaking views of the Indian Ocean, it will also host a club house with gymnasium, spa, media room, terraces and other premium facilities.


Additional information:

  • Projected investment is approximately USD 360 Mn, including land lease and development.
  • Market research suggests a mix of 3 – 6 BR villas on plots of 15 – 60 perches, each with built up areas of up to 10,000 Sq. Ft.
  • A project value of USD 450 Mn is derived based on an average selling price of USD 750+/Sq. Ft.

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

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

Access to talented human capital with a 92% literacy rate that is 30% lower in cost vs region

Strategic location

Located in the Island Living District, the property is surrounded by the sea, beach, canal and the central park along with a private waterfront and views of the Indian Ocean.