South Asia’s Shopping Hub Ratmalana

South Asia’s Shopping Hub Ratmalana

Sector

Trading

Geographical Location

250 Acre Land Ratmalana, 16 Km from Colombo

Project Size

US $250 Million

Project Description

The shopping mall will span over 200 acres with over 50 acres of Car Parking Space and the mall will host of international high-end fashion brands, Southeast Asia’s largest aquarium, a 16-screen Cineplex, and a comprehensive selection of world cuisine.
1.First Floor – ‘Fashion Venue’ : to bring down famous fashion companies such as Zara MNG Massimo Dutti Paul Smith Armani Hugo Boss Gap Jaspal Mikimoto Swarovski Greyhound Coach D’Mond Prestige Code 10 Footwork H&M
2. Second Floors – ‘Lifestyle and Leisure’: Sony Samsung Bose Bang & Olufsen QI. Shiseido Salon Asia Books Toshiba
3. Third Floors – ‘Car Showrooms’ : Aston Martin Lotus BMW Maserati Ferrari Lamborghini
4. The Fourth Floor – ‘I.T. World’ and more restaurants & Hotel Chains & VIP Cinema Experience

Fringe benefits and incentives offered by the government

Tax Concessions shall be granted by the Government of Sri Lanka Duty Free facilities can be given for the importation of raw material, equipment, machinery etc… under the Board of Investment Invectives.

Significance of the project

Because of open market free economy policies it has greater Financial Returns on Investment furthermore the Foreign Investor are allowed to have 100% ownership of their investment that means to gain large profits by Investing in Projects. Market share will be high in Sri Lanka as it is emerging as booming economy in South Asia and Sri Lankan Economic Growth will grow rapidly in the coming years.

Major economic and social benefits

• It has been said to be providing employment opportunities to about 2000 professionals after the full range of operations of the IT Park.
• Derives innovation and productivity.
• It helps to Build High growth Industries.
• It will create new sectors and jobs and way of doing Business.

Concessions and benefits offered by government

Customs duty, and PAL exemptions on imports of capital goods (for large scale undertakings) For the importation of project related plant, machinery or equipment, the applicable customs duty, VAT and PAL will be deferred/ exempted during the project implementation period, and the said deferment will be treated as an exemption on the fulfillment of the conditions specified by the Board of Investment of Sri Lanka.

Current Status

Project can be initiated with immediate effect.

Reasons to invest

• High Profit Margins. Government aims to make Sri Lanka a strategic hub in the coming next three years.
• It has more stabilized economy in South Asia. Foreign investors are allowed 100% ownership of their investment.
• Because of the healthy and safe and sound environment for investment IT/BPO outsourcing industry grow to US$1 billion in 2015 and it will grow more in the later coming years.

Recommended way forward

1. Exclusive Mandate authorizing Local Promoter to participate on behalf of the Investor / Developer
2. Submission of Expression Of Interest
3. Submission of Initial Screening Documents by the proponent including proof of funds
4. Signing of Coorporation Agreement with the responsibility matrix
5. Submission of Preliminary Proposal
6. Obtaining in principal go ahead by the authorities
7. Develop a detailed proposal with the help of a local promoter after carrying out a feasibility study
8. Preparation of a fund raising model and a commercial proposal
9. Final approval and financial closure.

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OPPORTUNITY CODE : VBS/OP/23082017/X_3

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