Lotus Tower to commence operations from September 15 | Daily News

Lotus Tower to commence operations from September 15

Locals to pay Rs. 500 and Rs. 2,000, foreigners USD 20
US$ 66.39 mn of the loan has already been paid

The operations of the tallest self-supported structure in South Asia, the Lotus Tower, will commence operations from September 15. Colombo Lotus Tower’s Chief Administrative Officer Major General (Rtd) Prasad Samarasinghe said that Lotus Tower is planned to avail new technological experiences along with  entertainment similar to those found in wealthy countries around the world.

Among the attractions offered at Lotus Tower are adventure sports such as sky diving and bungee jumping.

Samarasinghe said 80 percent of local investors and 20 percent of foreign investors have joined the investment opportunities at the Lotus Tower. Dialog Telecom and Sri Lanka Telecom have already reached agreements for investments of Rs.200 million each.

With the commencement of operations, anyone can avail themselves of this experience by purchasing a ticket. Tickets are priced at Rs. 500 and Rs. 2,000 while the tickets for foreigners is priced at UD$ 20. It is also planned to introduce a QR Code system in the future instead of a ticket.

The Lotus Tower spread over 10.5 acres is currently negotiating with 58 investment companies and expressing interest in entering into agreements with 22 of them, and orders for 15 different

events have been received until December 31.

The chief administrator stated that after 2024, Lotus Tower has created the necessary environment

to ensure profitability as a company and plans to continue its operations without burdening the Treasury.

He said it is planned to carry out all these operations more successfully from next January. Those visiting the Lotus Tower can experience pubs, famous restaurants and souvenir shops on the ground floor, while several renowned commercial banks are also planned to be established on the ground floor.

The first floor is expected to be allocated for offices and it is also expected to establish a digital cinema hall. On the requests made by individuals and companies, steps have been taken to rent out space at the Lotus Tower on the basis of rates per square foot. The third floor consists of a conference hall, which can accommodate up to 400 people at a time. Meanwhile, the open floor has been designed in such a manner that it can be used for various entertainment activities.

On the first floor, shaped like a lotus bud, a reception hall has been constructed that canaccommodate about 400 people, and the upper floor is equipped with a revolving restaurant which no doubt, will be a novel experience for the public. The public will also have the opportunity of experiencing a bird’s eye view of the Colombo skyline from the highest observation deck. Lotus Tower is also equipped with three of the fastest lifts in the country, made in line with Japanese technology.

The Lotus Tower was built at a cost of nearly US$113 million. A Chinese company funded US$ 88.65 million and the rest has been borne by the Sri Lankan government. The loan instalments are due to be completed by 2024. Already, US$ 66.3936 million of the loan has already been paid.

Colombo Lotus Tower Private Company is a company established in March this year under the Treasury, and all its transactions are audited by the Auditor General’s Department.

The loan agreement between the Telecommunication Regulatory Commission and China was initiated and the work on the Lotus Tower commenced in 2012.

Although its construction was planned to be completed in 2015, the planned date of completion could not be met. The Chinese company completed the construction work and handed over the Lotus Tower to the Government of Sri Lanka on February 28, 2022. Thereafter, Colombo LotusTower Pvt. Ltd. was established and its operations were entrusted to the company.


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