PORT CITY COLOMBO REACHES 11 YEARS: DEVELOPER REAFFIRMS COMMITMENT TO FURTHER PROJECT PROGRESS

CHEC Port City Colombo (Pvt) Ltd., the master developer of Port City Colombo, reaffirms its commitment to attracting Foreign Direct Investments into Sri Lanka, and delivering further infrastructure milestones, as the project enters a new era of commercial operations and vertical development.

“Since its commencement in 2014, Port City Colombo’s strategic vision has always been centred on the betterment of the Sri Lankan community and the advancement of the country’s economy,” said Mr. Xiong Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd. “The sheer scale and magnitude of this 269-hectare strategic venture reflects our confidence in Sri Lanka’s potential to become a formidable regional player in South Asia, whilst building a future that all Sri Lankans could aspire to.”

Being a project of national and regional significance, Port City Colombo has showcased remarkable resilience and endurance throughout several challenging circumstances. Since its inception 11 years ago, Port City Colombo has witnessed fluctuating environmental conditions from political transitions and the impact of the 2019 Easter Sunday attacks, to the unprecedented global disruption of the COVID-19 pandemic and the 2022 economic crisis. Despite these headwinds, the project has remained firmly on course with the strategic aim of becoming a transformative world-class investment destination in South Asia. 

Further, as a subsidiary of China Harbour Engineering Company (CHEC), which has delivered landmark construction projects in Sri Lanka since 1998, the master developer remains steadfast in its commitment to supporting the nation’s long-term economic development. 

Since the completion of land reclamation in 2019, Port City Colombo has marked several significant milestones that reinforce the project’s positive outlook as a competitive regional investment hotspot. This includes the Colombo Port City Economic Commission Act in 2021, which was duly passed with bipartisan support by the Parliament of Sri Lanka. The Colombo Port City Economic Commission Act established the Colombo Port City Special Economic Zone, a progressive regulatory environment that enhances the ease of doing business for international investors in Sri Lanka. This has fostered the development of a vibrant business ecosystem that now encompasses 146 registered enterprises that are dedicated to modern service exports. 

On 17th October 2025, marking a key infrastructure milestone, Port City Colombo formally announced the successful commissioning of public utility connections to Colombo’s main city grid, including water, electricity, and sewage systems. This development represents a critical step in the project’s transition into full-scale commercial operations, underscoring its readiness to support large-scale business activity and vertical development.

The Mall at Port City Colombo, South Asia’s pioneering downtown duty-free retail offering, was formally inaugurated in September 2024, reinforcing Colombo’s positioning as a premier regional shopping and leisure destination. 

The Business Centre at Port City Colombo, a premier IT and business park, officially broke ground in March 2024 and commenced the tenant handover of office space from end of May 2025.

The Luxury Marina Development, representing a USD 120 million investment by Browns Investment PLC -- the strategic investment arm of the LOLC group, officially broke ground on 10th January 2025. The Marina Development will feature premium lifestyle and retail offerings and berthing space for 200 small to mid-sized yachting vessels, with a planned completion timeline of 3 years. 

Port City Colombo has also attracted over USD 1 billion in land development investments, including several landmark projects that reflect the dynamism and ambition of a city rising from the ocean. Formally designated by the Sri Lankan Cabinet of Ministers as Primary Businesses of Strategic Importance (BSI), these developments bring the total number of such strategic investments within Port City Colombo to 27.

Targeted initiatives are also in progress, led by the Colombo Port City Economic Commission, to secure investors for the land parcels allocated for the International Hospital, International University and International School.

Port City Colombo stands as a prime window of opportunity that transcends generations. As CHEC Port City Colombo (Pvt) Ltd. looks ahead to achieving more milestones in the future, the master developer welcomes the continued support of the Government of Sri Lanka in endorsing Sri Lanka’s emergence as a regional destination for business, leisure, and investments. 

To learn more about the investment opportunities at Port City Colombo, please visit www.portcitycolombo.lk. For information on Single Window Investment Facilitation and regulatory matters, please visit www.portcitycolombo.gov.lk.

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ABOUT PORT CITY COLOMBO 

Poised to redefine Sri Lanka’s economic and societal landscape, Port City Colombo is a visionary multi-billion-dollar FDI-funded project located at the very heart of the South Asian region — the vibrant, thriving metropolis of Colombo in Sri Lanka. Positioned as the gateway to South Asia, it offers a unique combination of global investment opportunities, international business environments, world-class infrastructure, and sustainable yet cosmopolitan living. As a Special Economic Zone (SEZ), Port City Colombo will offer a business-friendly environment including tax incentives and exemptions for Businesses of Strategic Importance (BSIs), and transactions in foreign currencies, with no capital or exchange controls, and up to 100 percent foreign ownership. With several development projects to break ground in 2025/26, Port City Colombo aims to emulate the successful economic models of Dubai or Singapore, whilst reinforcing the broader commitment to sustainability and liveability.