Sri Lanka Port City 34-storey office tower deal inked with developer
EconomyNext: A consortium led by Canary Wharf Holdings Pte Ltd, a Singapore based company, said it signed an agreement with CHEC Port City Colombo (Pvt) Ltd, to develop a 34-storey office tower.
Colombo Gateway Tower One, will have 28,000 square metres of office space, spread over 28 floors. The building, to be located at Plot 01-10-04 of the Port City will also include retail and leisure facilities.
The land was reclaimed from the sea by CHEC Port City Colombo (Pvt) Ltd.
A memorandum of understanding was signed between Chairman of Canary Wharf Holdings Pte Ltd, Sharhan Musheen, Xiong Hongfeng, Managing Director of CHEC Port City Colombo (Pvt) Ltd.
Canary Wharf is the development arm of Investment Advisory firm Platinum Advisors Pte Ltd, the project promoter of Colombo Gateway, the statement said.
The developers hope to begin construction in May 2026 and complete the building by June 2029.
OSL take:
The Colombo Port City project in Sri Lanka is aimed at taking the country to the next level of development. As the country seeks to achieve regional hub status supported by Sri Lanka’s geographical positioning in the Indian Ocean, strong trade ties and many other contributing factors, projects like the Port City Colombo present lucrative business/investment opportunities to foreign businesses/investors. With Sri Lanka’s economy showing great resilience and growth, there has been much attention on Sri Lanka by foreign businesses/investors to explore opportunities in the country. Even key global superpowers like the US, China and India have shown great interest in Sri Lanka and being part of its economic growth, which is evident by China’s placement of Sri Lanka in its Belt and Road Initiative (BRI). Given all these factors, foreign businesses/investors could confidently explore the expanding business/investment opportunities in Sri Lanka, especially in the Colombo Port City project.
| Article Code : | VBS/AT/20251118/Z_4 |