Urban Development

Perahara Mawatha Colombo 03

Colombo 03

LOCATION

2R 35.95P

Land Extent

USD 50 Mn

Minimum Investment

Project Overview

This property is identified to be developed with a potential city hotel development. It is proposed to be developed with the financial and technical assistance of private sector involvement on Design – Build – Finance – Own – Operate (DBFOO) Basis as a city hotel. The city hotel development will include recreational facilities such as a swimming pool, a conference hall, a spa, a bar or lounge and other guest amenities within a  modern landscape. The Investor/ Developer should execute the concept of the city hotel, which sets it apart from properties. 

The estimated investment value is USD 50 Mn.

The project is expected to commence in 2021

  • Main access will be from Perahara Mawatha Colombo 03 and its close proximity to the port, educational institutes, cultural landmarks, financial centers, major transportation facilities and beach.  
  • Availability of water, electricity, sewer and wastewater lines, etc.

Project/ownership structure

50 year lease

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 Peoples Bank Training Centre)