IGT 1 officially begins operations at Port City Colombo business centre
The Morning: IGT 1 Outsourcing Lanka (Private) Ltd, hereafter referred to as ‘IGT 1 Lanka’, the subsidiary of IGT Holding I Sweden AB, and sister company of IFS Sri Lanka, recently signed an agreement to officially on-board as office tenant at the Business Centre at Port City Colombo.
The leasing agreement was signed by Sal Laher, IGT 1 Chief Digital and Information Officer (CDIO) and Managing Director of IGT 1 Lanka, and Xiong Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd. The Parent Companies, EQT, Hg, and TA Private Equity, already have significant investments in Sri Lanka, and look to leverage the modern infrastructure and advantages offered by Port City Colombo.
This milestone continues to build on their success in Sri Lanka the last 27 years with IFS, where they have over 3,000+ tech staff, and further enhances their contribution to the country’s economy.
Reinforcing the joint commitment by IGT 1 Lanka and Port City Colombo to contribute towards Sri Lanka’s emergence as a regional tech hub, IGT 1 Lanka is projected to inject at least 1,000 direct employment opportunities into the Sri Lankan economy within Port City Colombo by 2027 and foster a thriving local IT community.
IGT 1 Lanka has agreed to lease out two office buildings of office space at the Business Centre with a planned headcount of approx. 500 employees. This advancement will augment the proposition of the Business Centre at Port City Colombo, a premier IT and business park, which aims to provide a contemporary workspace where IT businesses could operate, exchange knowledge, and drive new advancements in technology, including generative AI.
As a registered Authorised Person (AP) approved by the Colombo Port City Economic Commission, IGT 1 Lanka will also be one of the several international IT companies to set up business operations within the area of authority of the Colombo Port City Special Economic Zone.
“We are pleased to announce that IGT 1 Outsourcing Lanka (Pvt) Ltd has officially on-boarded as an office tenant at the Business Centre at Port City Colombo. This instrumental partnership with IGT 1 Lanka will enable Port City Colombo to emerge as a progressive business environment that is at the forefront of technological trends in the South Asian region. We are also proud to partner on a significant venture that would support the growth of a competitive digital economy that promotes the long-term economic development of Sri Lanka,” said Xiong Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd.
“IGT 1 Lanka has achieved several major milestones within the last year since registering as a Port City company, including serving portfolio customers based in the Americas and Europe, recruiting a workforce of 370 staff in just nine months, and today marks yet another major milestone in our journey to contract two office buildings within the IT Hub of the Business Centre at Port City Colombo. This cements our commitment and contribution to Sri Lanka as well as our strategy for growth over the next few years,” said Sal Laher, IGT 1 Chief Digital and Information Officer (CDIO) and Managing Director, IGT 1 Outsourcing Lanka (Private) Ltd.
As a Public-Private Partnership, Port City Colombo remains committed to facilitating strategic investments including IGT 1 Lanka, and focusing on supporting streamlined and timely approval processes, with the active collaboration of the project’s public and private stakeholders, to truly enhance the ease of doing business.
OSL take:
The Port City project in Colombo is aimed at taking Sri Lanka to the next level of development with many foreign businesses/investors exploring the growing opportunities in the project. Sri Lanka’s strategic positioning in the Indian Ocean, the strong trade ties enjoyed with other countries and the country’s target of becoming a hub in the South Asian region have also added to the attraction of the Colombo Port City project as an emerging business destination in Sri Lanka as well as the overall region. Apart from businesses in the IT sector, there have also been financial institutions as well as leisure businesses that have expressed interest in doing business in the Colombo Port City. Apart from the direct business/investment opportunities presented by the Port City, foreign businesses/investors could explore the emerging business/investment opportunities in the development of infrastructure and supplementary infrastructure facilities that would be required to meet the expansion. Foreign businesses/investors could also look at expanding operations by forming partnerships with local businesses.
| Article Code : | VBS/AT/20250505/Z_1 |