BOI & Sino Lanka sign USD 5mn agreement for mixed development project

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The Board of Investment (BOI) of Sri Lanka entered into an agreement with Sino Lanka Group for its latest development – Sino Lanka Properties Two Pvt. Ltd., for a mixed development project at Rajagiriya. The agreement was signed by Board Members Dr. Harsha Cabral and Mr. Sanjay Kulatunga on behalf of the BOI and Mr. Dhiren Kundanmal, Director of Sino Lanka.

The USD 5.6Mn dollar, 40,000 sq. ft building will house five floors of usable space consisting three floors of commercial and co-working space and two floors dedicated to hotel accommodation. The property will also include a rooftop restaurant and cafe, serving both in house and external guests. The proposed rooftop restaurant and cafe will be the first of its kind in Rajagiriya, which is anticipated to be a much-needed recreational space, given the recent urbanization of the city.

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The development is the culmination of many years of experience in the property development and hospitality sectors in Sri Lanka with Sino Lanka Group actively operating in these areas through their investments in OZO Colombo, Kandy & Amari Galle. With over 250,000 commuters passing by the property daily en-route to Colombo, it will provide alternate working options closer to home, instead of traveling to the city, as it is aimed at providing operating capacity for any business to set up as a satellite office or head office. It will also be equipped with the latest technology to enable seamless integration and communication so that occupants can plug and play their devices or expand their operations. Each floor will be decked with bio metric security and the latest fire and health safety protection devices available. The co-working space will host up to 80 workstations including private offices, meeting rooms, shared desks and common areas.

Investment Opportunities – Board of Investment of Sri Lanka

The proposed hotel will be an upscale city hotel with 20 rooms and four spacious suites, catering to individuals, groups, business travelers and long-stay guests who prefer to stay away from the center of Colombo yet would still need to be located close to the capital.

Sino Lanka Pvt. Ltd, a family-owned enterprise headquartered in Sri Lanka is involved in multiple ventures including investments in hospitality, education, renewable energy and property development in Sri Lanka.

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