Sri Lanka to set up first Disneyland in South Asia through US$ 400 million project
Sri Lanka is reportedly looking at building South Asia’s first Disneyland in the proposed Bopitiya leisure Park which will be created by Korea Cavitation Co., which is a company with investments from Malaysia and Korea.
President of Korea Cavitation Co. Baekgeum Kim and the representative of Sri Lanka Dr. Parimala Rajo Isa Michael have been quoted as saying in the local media that they are negotiating with the government to obtain a 150 acre land on a lease basis for this project. “We hope to raise around US$ 400 million to construct this project through international funding mainly from Korea and Malaysia and we had successes in obtaining around 30% from this prior to the COVID-19 pandemic. With the Sri Lankan improving of C-19 health management, decreasing number of patients and the vaccinating process happening we see bigger opportunities to attract more investors to this project even from other countries like India.”
According to media reports, the proposed park will be similar to Genting Highlands in Malaysia and is also expected to have a special rail link to it. “In addition we will have several other leisure attractions attached to it. When the C-19 pandemic settles we see demand especially from India and other neighboring countries since this will be the only Disneyland operating in the region. In a bid to accommodate travelers we will also have a 300 room hotel which we will lease out to an international operator to manage,” the investors have said
“Our company, based in Sri Lanka, is a firm that specializes in structuring Turn-Key projects and mega projects including a range of PPP models in emerging countries with focus on Asia Pacific. We will use the technical know-how and equipment from our well-established South Korean and Malaysian companies with the most cutting edge technologies for the park.”
OSL take:
Sri Lanka is fast becoming a business as well as a tourist hub in the South Asian region given its geographical positioning in the Indian ocean, being listed as a must visit destination by many leadeing global travel publications and the many trade agreements as well as the trade concessions enjoyed by the country. Sri Lanka has also carrying out an aggressive development programme aimed at attracting foreign businesses, investors and tourists. The proposed Disneyland in Sri Lanka combines both development and tourist attraction. There are many such development potential in the island. Foreign businesses/investors could therefore explore opportunities in Sri Lanka.
| Article Code : | VBS/AT/20210421/Z-3 |