One Duty Free to commence operations in Colombo Port City
The Morning: Singapore-born travel retailer One World Duty Free (ODF) is set to commence the operations of its store at Colombo Port City (CPC) by end 2023, its Founder and Chief Executive Officer (CEO) Keira Zhang said.
Speaking to the UK-based travel-retail publisher DFNI, Zhang said that ODF is targeting to get the Sri Lankan store at Port City with the aim of enhancing local employment opportunities in the travel retail sector, thereby fostering the development of a skilled workforce and improving the quality of life for the local community.
“Port City Colombo is a master plan development that is capturing the attention of investors globally. Located in the heart of Colombo and situated within the expansive Port City duty-free mall which is strategically positioned amidst international hotels and casinos, the development promises a diverse and affluent customer base of tourists, expatriates, and locals,” she said.
Moreover, she said that the project aspires to transform business and lifestyles in Sri Lanka, providing world-class facilities and attracting a range of multinational companies and global businesses.
She noted that proposed and approved facilities for CPC are designed to cater to a range of industries and sectors with sustainability at the core.
She added that anticipating a resurgence in tourist arrivals post-pandemic, Port City Colombo is poised to accelerate Sri Lanka’s economic development to become a premier tourism and shopping destination, comparable to iconic hubs like Singapore and Dubai.
“Together with our local partners, we remain committed to elevating Port City Colombo onto the global stage, transforming it from a burgeoning commercial hub into a premier duty-free retail hotspot,” she said. Further, she noted that ODF expansion to Port City Colombo will mark its first retail endeavor beyond local borders where travelers can look forward to several new-to-market brands as we approach the final stages of negotiations.
Zhang said that the Sri Lanka store’s design inspiration stems from the Singapore Flyer store, while architectural elements inspired by Sri Lanka’s renowned architect, Geoffrey Bawa, were incorporated to create a unique and special atmosphere.
OSL take:
Sri Lanka’s Colombo Port City project is one of the key projects aimed at taking the country to the next level of development. The country’s target of becoming an emerging business destination in the South Asian region supported by the country’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by Sri Lanka have all placed the country as one of the key venues to operate businesses in the next few years. The resilience shown by the country’s economy and the expanding economic activities in the country that have resulted in the growth in business/investment opportunities in Sri Lanka have all served to boost confidence of foreign businesses/investors in Sri Lanka. Given the growth and business potential in Sri Lanka, foreign businesses/investors could confidently explore the expanding opportunities in Sri Lanka while also looking at forming partnerships or joint ventures with local businesses with the aim of further expansion.
| Article Code : | VBS/AT/20231017/Z_1 |