Sri Lanka to set up international class business club and boutique hotel in Colombo
The government of Sri Lanka is to set up an international class business club and boutique hotel in the heart of Colombo, the country’s key commercial hub.
Accordingly, the 80 Club at Independence Square in Colombo 7, which was recently taken over by Sri Lanka’s Ministry of Housing and Urban Development is to be transformed into an international class business club and expanded into a boutique hotel.
The Club takes up about 1.6 acres of prime land in Colombo and will be developed in the interest of the public because only few people are using this public land at present, Ministry of Housing and Urban Development Secretary Sirinimal Perera has told the Daily FT.
He has noted that the Otters Club which was also taken over would be developed into a mixed development project inclusive of a car park and apartments as well an international sports arena.
“These are underutilised assets. We are going to make sure we make optimum use of these very valuable properties,” Perera has further observed.
OSL take:
The expansion of Sri Lanka’s economic activities, the need for supplementary infrastructure facilities has emerged. The setting up of an international level club as well as a boutique hotel are part of this plan. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country have made it a business hub in the South Asian region. Therefore, the setting up of the required supplementary infrastructure facilities have presented a new business opportunity in the country. Foreign businesses/investors looking at being part of the country’s development programme could also explore opportunities in setting up supplementary infrastructure facilities.
| Article Code : | VBS/AT/20210127/Z_3 |