Port City opens for business; adds 269 hectare to Lankan map | Daily News

Port City opens for business; adds 269 hectare to Lankan map


China Harbour Engineering Company Ltd will invest US$ 400 million to construct an office, retail and apartment (3) towers, each rising up to minimum 65 storey at the Colombo Port City Head of Strategy & Business Development CHEC Port City Colombo Pvt Ltd, Thulei Aluvihare said.

This will be constructed on the South Entrance on the reclaimed land dedicated to the CHEC. He said that construction would start next year and it will be completed by 2023. It is expected to be the most livable city in South Asia with 5.7 million square feet of built space.

He said that the Port city is now open for investment and adding 269 hectares to the map of Sri Lanka, the Colombo Port City was officially declared part of Sri Lanka on Friday by Prime Minister Mahinda Rajapaksa who was the mentor behind this Sri Lanka’s largest investment project. “With the official declaration, the Colombo Port City Project is now open to investors.”

With a total investment of US $ 1.5 billion, the project will reclaim 233 hectares of sea area between Colombo Port and Galle Face. When completed it would one seventh the size of Singapore. Under the first phase the Marina and recreation area would be developed.

“We have identified 50 native Sri Lankan trees and have planted 30 at the Port city.” The second phase of the Port City project has now commenced. Under the second phase highways, electricity, water systems and common amenities will be constructed. Arrangements are in place to auction the land, which comes under the purview of the Urban Development Authority (UDA), for investment projects from tomorrow. A commemorative stamp and first day cover were issued on today’s occasion and Chinese Ambassador to Sri Lanka Cheng Xueyuan several Ministers also attended. (SS)

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