Sundara signs for US$ 4.5 mn hotel in Koggala | Daily News

Sundara signs for US$ 4.5 mn hotel in Koggala

BOI Chairman Mangala Yapa and Sundara (Pvt) Ltd, Director Sabrina Van Cleef Ault and  Chairman Dale Rennie after signing the agreement. Picture by Sulochana Gamage
BOI Chairman Mangala Yapa and Sundara (Pvt) Ltd, Director Sabrina Van Cleef Ault and Chairman Dale Rennie after signing the agreement. Picture by Sulochana Gamage

The Board of Investment signed an agreement with Sundara (Pvt) Ltd on a luxury resort project valued at over US$ 4.5 million (around Rs.792 million) at the BOI premises Colombo yesterday. The project known as the Plantation Luxury Villas in Koggala is considered a strong vote of confidence in Sri Lanka’s tourism sector by a foreign investor and developer known for internationally renowned luxury resort projects.

BOI Chairman Mangala Yapa signed the agreement on behalf of the BOI, while the Chairman of Sundara (Pvt) Ltd, Dale Rennie signed on behalf of his company.

The project is expected to be completed by 2020 and the BOI Chairman said that despite a setback due to the recent attacks, Sri Lanka is back on course to achieving its targets. “This is the 1,698th venture under the BOI and we will make a joint effort to take Sri Lanka to the next stage.”

Rennie said, “As investors and people that live in our adopted country Sri Lanka, we are very proud to be involved in the country’s tourism industry. We do have several projects in a number of countries including the Philippines and Indonesia. We focus on boutique hotels are only interested in the ultra luxury market.”

Describing his company’s strategy in selecting a country and location for setting up a project he said, “We look at a country and try to see where the key environmental assets are. We were incredibly impressed by the abundance of nature around Koggala Lake. We explored the area for a number of years prior to settling on the location,” he said, adding that the variety of bird species in the area is bound to attract many a nature lover to their villas once in operation.

 


 

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