The World Economic Forum website estimated that the broad market for smart cities’ products and services will be worth over $2.57 trillion by 2025, growing at a rate of 18.4 percent per year on average.
The Port City is going to be a smart city and it will be taking a share of that market ,said Minister of Megapolis and Western Development, Patali Champika Ranawaka during a vist to the Port city yesterday.
Port City is a technological marvel and without doubt, one of the most spectacular development projects this country will ever see. “The way it has been developed and reclaimed from the sea, the way the marina seawall has been developed, the way ground improvement, artificial beaches, and numerous other aspects of construction are being managed - the complexities of developing this new city are so many.”
How CHEC is handling this iconic project is commendable and we are very happy to have partnered with them to build Sri Lanka’s first modern planned city that is slated to become an attraction for the entire region.
China’s technological advancement has definitely come of age - just two weeks ago, we got to hear that China became the first country to land a spacecraft on the Moon’s far side. This is the true capacity of China and we are proud as an Asian nation.
“We are positioning our country for a quantum leap, where opportunity is concerned, not just for now but for generations to come. If you look at some of the latest projections in the world today, over 1.3 million people are moving into cities every week. In 2008 the percentage of the world population living in cities was at 50 percent, but by 2040 it is expected to go up to 65 percent. Currently 60 percent of the world’s GDP comes from the top 600 urban centers. And in the future, developing countries too will follow this trend because as much as 80% of future economic growth in the developing world is expected to occur in cities.”
The Port City has gone through 2 comprehensive Environmental Impact Assessments. The SEIA of December 2015, which was for the reclamation stage, went through a public hearing and received 215 written responses. 72 conditions were set by the government and they have been met by the project company.
“We not only solved inherent problems of the project but introduced additional value to it such as seamless connectivity to the Port City by introducing a new road and tunnel connecting Port City direct to marine drive, Kolpetty and Light Rail Transit system to run through Port City connecting direct to the central business district of Colombo. Today Port City is not a threat to anybody but it is an opportunity.”
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