SLTDA seeks investments for Dedduwa Lake project
The Morning: The Sri Lanka Tourism Development Authority (SLTDA) reveals that it is looking for investors interested in making sustainable tourism investments in the 1,800 hectares vested with the authority under the Dedduwa Lake Resort project.
Speaking to The Sunday Morning Business, SLTDA Chairman Buddhika Hewawasam revealed that an area of 1,800 hectares around the Dedduwa Lake had been vested with the SLTDA for the project, which involves allocating the land to suitable investors to establish resorts on the land.
He further stated: “Out of 1,800 hectares, more than 1,000 hectares are marshy land and water. We intend to hand over about 600-700 hectares to projects that will engage in multifaceted development whilst conserving the surrounding environment.
“We are looking at community-based tourism projects or similar projects that will gel with the environment there. We have to go ahead with projects that will not damage the environment.”
Hewawasam revealed that a few potential investors had expressed their interest in investing in the Dedduwa Lake Resort project. However, he admitted that there was nothing concrete yet.
“We are inviting proposals to our Investor Relations Unit (IRU). The opportunity to bid for the project is open to anyone who might be interested. At present, we are evaluating the possibilities and there will be an open bidding process commencing in the future as well,” he stated.
He further revealed that previously, an Expression of Interest (EOI) process had been carried out by the SLTDA. However, he noted that there was some preparatory work that must be carried out before the commencement of a new EOI process.
“The boundaries of this 1,800-hectare land have not been demarcated and there are certain areas where people have encroached upon the land. Therefore, there is a parallel process to resolve these issues while we proceed with other matters.
“The land has been properly vested with the SLTDA. An initial Environmental Impact Assessment was carried out, but there are further processes that need to be carried out as well,” he stated.
He further noted that in approving projects, ensuring sustainability would be a priority.
“We are currently evaluating a few alternative options such as community-based tourism projects, sustainable resorts, and other plans. Therefore, if there are parties willing to invest, they are welcome to express their interest. They can inquire from us regarding further details,” Hewawasam said.
OSL take:
Sri Lanka’s steadily growing tourism industry has expanded the business/investment opportunities in the industry. The growth in the tourism industry that has resulted in an increase in tourist arrivals to the country have resulted in the increasing demand for developing infrastructure and supplementary infrastructure facilities required to meet the growing demand. Also, the new tourism concepts being promoted by local tourism authorities have further expanded the business/investment opportunities in the country’s tourism industry and related sectors. While meeting the requirements of the expanding tourism concepts, there are also business/investment opportunities in the leisure and hospitality sectors as well. The increasing interest shown by international leisure and hospitality brands to enter Sri Lanka and the expansion programmes undertaken by local businesses already engaged in the sector are clear indications of the increasing business potential in the tourism industry as a whole. The growth potential of Sri Lanka’s tourism industry is evident by the identification of Sri Lanka as a must visit tourist destination and the continuing promotional campaigns being carried out in key tourist source markets. Foreign businesses/investors could therefore explore the expanding business/investment opportunities in Sri Lanka’s tourism industry and related sectors while also exploring the possibilities of expanding operations through partnerships or joint ventures with local businesses already operating in the industry.
| Article Code : | VBS/AT/20250519/Z_2 |