Colombo, a modern city in the making | Daily News


Colombo, a modern city in the making

Continued from yesterday....

This report was compiled by TKS Securities. The report says that in the five star city hotel segment a shortfall of 1500 hotel rooms by 2016 would be seen in meeting the expected tourist arrivals trend. It was published as 500 rooms in our first part yesterday.

EoN Resorts

A mixed development of USD170 mn consisting of a luxury hotel, apartments and a convention centre would be developed in close proximity to Colombo Fort at Colombo 10 by the Maldivian based resort developer, Eon Resorts.

They would pump in USD170 mn and it would be located at current Cey-Nor Restaurant Premises at D. R. Wijewardena Mw Colombo 10. The Project would include a 300 roomed luxury hotel, 100 luxury apartment units of 150,000 Sqft retail space, 2,000 Sqft food court, Convention centre with 2,000 seating capacity and many other features.

Liberty Square and Liberty Tower

Fairway Sky Gardens, Kotte

In line with UDA's Colombo Pettah development plan, Liberty Square along with the Liberty Tower would be built in 5 acres of Colombo Pettah land in a period of 2 years with construction commencing in September 2013. The entire project would be carried out by Colombo Development and Company as two phases where the first phase would consist of the Liberty Square and Towers whilst the second phase would be in 10 acres in the vicinity on an approximately 15 year timeline.This Liberty Tower Project costing around USD70 mn, include a 66 5-storey commercial units of 500,000 Sqft and one Tower of mixed development (20 storey 300,000 Sqft.)

Under phase 1 it features a mixed development project including retail, office space, entertainment (cinema halls and food court) and apartments (targeted at working staff of Pettah traders), parking space of four floors Sky lounge on the top floor. Front and rear entrance together with lifts and stairways for all commercial units, Swimming pool, Timeline Construction to begin in September 2013 and due to be completed in two years.

Platinum One

Lead by an Indian venture, Platinum One mixed development has seen its super structure being completed and is expected to be completed in 2015. The 140,000 Sqft, 20 storey building is to be include high end shopping areas and residential units and would be an investment of USD20 mn. Platinum One with an invest of USD20 mn and located Colombo 3, on top of Bagatalle Road, would offer 20 floor state of the art building,66 residential apartments and 4 penthouses, automated valet car parking system with 216 parking slots, Convention hall with 150 seating capacity, swimming pool, modern gym and a Commercial space of 60,000 Sqft.

Fairway Sky Gardens

Fairway Sky Gardens is the third luxury apartment building undertaken by the Fairway group with the previous projects Fairmount and Fairway Residencies winning ICTAD Awards for construction excellence offering a stunning view of surrounding wetlands, lakes, waterways, forests and the Colombo cityscape some apartments have their own sky garden while the rooftop flaunts Sri Lanka's highest sky garden.

With amenities of a swimming pool, gymnasium, sports complex, business centre, club house , diner, heli-pad etc sky gardens offers the ultimate in luxury apartment living.

This would be located down Buthgamuwa Road Kotte (near HSBC Call Centre) with 31 Floors, 120 Units offering modern luxury.

‘110 Parliment Road’

‘110 Parliment Road’ is a luxury apartment complex set up by the Apurva Natvar Parikh Group India making an investment of approximately USD30 mn which is to be located in Rajagiriya on the border of the city of Colombo. The project which was launched in October 2011 is expected to be completed by June/ July 2014. With views of the Colombo Golf Course and the National Bird Sanctuary it spans across 1.5 acres with a 380,000 square foot complex.

This 25 floor complex consists of 188 apartments as well as 2 club levels providing the amenities of restaurants, party rooms, a day care centre, swimming pool, gymnasium, tennis courts, squash courts, basketball court, mini market, children's play area and other convenient facilities. The price of an apartment ranges from Rs. 22 to 67 mn with 2-3 bed room units, duplexes with private gardens and penthouses available. Leading Construction Company Sanken Construction has been employed for this high rise project. According to ANPG Director Rohan Parikh third of the units were sold by August 2012 with more than 50% of the units sold by March 2013 and he expects all units to be sold before completion.


An iconic development of luxury apartments would be developed by Indian based company at a prime location in Colombo would consist of 2 towers, one straight and the other a sloping tower at an investment of USD250 mn. The Project Company for this is Indocean Developers Pvt Ltd (a venture of Indian Company South City Projects Pvt Ltd) and they have invested USD250 mn. On320 Project Company would be John Keells Holdings with an initial investment of USD65 mn. It would be located in T. B. Jayah Mw, Union Place, Colombo 2 and when completed would have 37 floors with 475 units, a business centre, a walking track, a state-of-the-art gym, steam room, squash court, indoor games room, club house, three swimming pools and other facilities.

The Destiny Mall and Residency

The Destiny Mall and Residency developed by Imperial Builders commenced construction in the first week of May on the,140 Perch property at the corner of Sir Justice Akbar Mawatha and R.A. De Mel Mawatha, Colombo. The development is set to transform the area between the Slave Island railway Station and R.A. De Mel Mawatha with its ultra modern luxury G+44 storey twin tower design which consists of a shopping promenade and apartment complex.

Construction commenced at a time where 44% of apartments were sold in a space of 5 months, Imperial Builders estimates to be sold out by the end of 2013. Investment for this project would be USD 120.0 mn

The Destiny Mall and Residency Apartments

Details of the Project 44 Storey Twin tower complex with 258 Apartments and 2 storey luxury Shopping Promenade .The shopping mall consists of retail space, a supermarket, two 3D cinemas, bowling alleys, food courts; kiddies play area, 7 guest rooms and much more, making it very attractive to the rental investment market. The apartment amenities include an infinity pool and deck on the 6th level, a business centre, his and her gymnasium and a 200 capacity banquet hall and ample visitor parking facilities.

Movenpick Colombo

This hotel will be one of the very first city hotels opening post war in the business center in Sri Lanka’s capital. Managed by the Swiss based international hotel chain MOVENPICK, the hotel will be a 24-storey 224-room 5-star, with a complete suite of amenities catering to business travelers.

The hotel will feature world-class conference and meeting facilities, four restaurants serving diverse cuisines, and a full range of recreational facilities, such as a fully-equipped gymnasium, a swimming pool, and a health spa.

Project Company for this task will be Softlogic Holdings with an investment of USD 46.6 mn. Location will be in Colpetty, between Liberty Plaza and LB Finance Building. This will contain a 24 story 5 Star Complex, 224 Rooms, conference and meeting facilities, four restaurants serving diverse cuisines, and a full range of recreational facilities, such as a fully equipped gymnasium, a swimming pool, and a health spa.

Shangri-La Colombo

The top international hotel chain is due to open up two hotels in Sri Lanka, one at the Galle Face promenade and in the southern Hambantota area. The development in Colombo has begun with piling ongoing where a 500 roomed hotel would be constructed on a 10 acre land plot.

Sheraton Colombo

110 Parliment Road’, Rajagiriya

Sheraton Colombo is a hotel complex with an investment of approximately USD80 mn made by Lanka Hotel Residencies Pvt Ltd and its Promoters Greenwater Resorts Pvt Ltd India and Eurocon Building Industries FZC UAE upon the signing of an agreement between LHR and Starwood Hotels and Resorts World Wide INC the owners of the Sheraton Brand. Situated in the Central Business District located down Galle Road Colombo 3 next to the popular Carnival Ice Cream Parlour this Hotel Complex would house 306 rooms inclusive of a Presidential suite and other luxury themed suites along with 3 restaurants an outdoor swimming pool and Spa. The land was required by LHR after their understanding with the Starwood Group on a 99 year lease. The Complex is set to open on the 1st of September 2013.

Marino Sands Hotel

A 270 room luxury hotel and the department store is the first tourism related project of South Asia's largest furniture manufacturer Damro with an investment of approximately USD 40 mn. It will be constructed on a 1.5 acre land in Colombo 3 with a USD40 mn investment and mainly promoted to Indian middle class tourists through its branch network. This contains a 270 roomed 12 storey luxury hotel of 400,000 sqft and a department store of 100,000 sq. ft.

Welcome Hotels Lanka (Pvt) Ltd

India-based public conglomerate, ITC Ltd Kolkata will soon begin the construction of a mixed development project on a five acre plot of Galle Face beachfront adjoining Shangri- La project. The proposed mixed development includes a luxury hotel, residencies and a shopping mall at an estimated investment of USD140 mn. This would be located facing Galle Face Green, on the former Army headquarters premises and the land size would be five acres with the cost of the land being USD147 mn.

Sancity Business Hotel

Sancity Business Hotel is a 240 room 3 star business hotel at Colombo 3 is being built by Sanken Construction together with JKH. It will be constructed on 80 perch land in Green Path, Colombo 03 with a USD23 mn investment and mainly promoted to business tourists in Colombo. JKH is to manage the hotel once completed under their brand portfolio. Project architect is Design Team 3 of Singapore and features a chic boutique business hotel of 240 rooms, 25 storey tower, roof top swimming pool and other modern facilities.

Colombo City Centre

This is a venture from Abans Group and Abans Finance in collaboration with Silver Needle Hospitality. They have signed an agreement to build a USD100 mn shopping mall including a luxury hotel in the land adjoining Altair luxury residencies in TB Jayah Mw, Union Place, Colombo 2. Architectural designer for this is Aedas International the project includes a 200 Room Luxury Hotel Complex with retail space, Food court, 3D cinema and many other facilities.

Access Tower 2

Following the successful launch of its first tower for office space, Access Engineering plans to build its second tower in the vicinity of its current premises in an 87 perch land plot.

The investment exceeding USD20 mn would include a 170,000 Sqft rentable office space where construction would commence end of 2013. The investment would exceed USD20 mn and would have 25 storeys in a total area of 280,000 Sqft and 240 parking spaces. 

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