AGSEP to invest Euro 40 mn in apartment complex | Page 2 | Daily News

AGSEP to invest Euro 40 mn in apartment complex

Dietmar Doering, Consultant of the Company, Tissa Jayaweera and other members from A.G.S.E.P. in Colombo
Dietmar Doering, Consultant of the Company, Tissa Jayaweera and other members from A.G.S.E.P. in Colombo

The Asian German Sports Exchange Programme (A.G.S.E.P.) which own and operate the 22 cabana Hotel property in Marawila will re invest on a large seven storeyed apartment complex.

Founder and Chief Executive Officer of A.G.S.E.P. Dietmar Doering said that this 200 apartment complex would be to attract long stay guests mainly from Germany. He said that they hope to invest around Euro 40 million projects along with two other German investors.

He said that in addition to sport exchange programs and hotels they are also involved in research. AGSEP’s recently released research findings reveals key observations on the tourism industry and impediments which are hindering further growth and economic benefits.

Comparing other popular Asian tourist destinations, the report noted that Sri Lanka remains an underperforming destination. According to statistics of annual tourist arrivals among Asian countries, while Thailand and Malaysia enjoy over 35 million and 26 million respectively, Vietnam 10 million, Philippines 5 million and Laos 3 million, Sri Lanka is comparatively lower with approximately 2 million only.

Citing an example the report states that, Thailand’s Pattaya, through events and sports grew its visitors from 6.2 million arrivals in 2007 to 9.2 million in 2015. “Similarly, through the development of reciprocal sports exchange programmes with Malaysia’s Langkawi Local Authority, Sri Lanka too can increase its visitor ratio.”

Based on the findings, the 80% of the visitors experienced no negative effects as a result of the onset of monsoon season, while the deprived sectors as a result of these perceptions being Sri Lanka’s hospitality sector.

Overall, based on the results of the survey, visitors had a positive result of their stay. 96% of tourists had felt welcomes, 84% confirmed they could make contact with locals and 80% praised the friendly, helpful and open-minded Sri Lankans.

Results and impressions of country’s natural beauty are also promising among visitors. With over 90% of those polled cited the opinion as ‘true’ being ‘the variety of Sri Lanka’s nature as fascinating’.

AGSEP Research has also conducted research and feasibility studies on promoting Ella as a top tourism destination among young European travelers.

Dietmar Doering however said that when it comes to investments it takes a longer time due to uncalled for red tape. He also said that their hotel too had an issue where one of its parapet walls was broken down and despite several complains no action has been taken by the Marawila Police. “We have now brought this matter up with Minister of Tourism John Amaratunge and even the Police Commission and hope some action would be taken.”



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