Sri Lanka’s BOI enters in to agreement to construct mixed development housing project
Sri Lanka’s Board of Investment (BOI) has recently entered into an agreement with M/s Rakna Property Holdings Ltd., a subsidiary of M/s. Rakna Arakshaka Lanka Ltd., to launch a mixed development project, according to local media reports.
The agreement was reportedly signed by BOI Chairman Sanjaya Mohottala and M/s. Rakna Property Holdings Board Director Maj. Gen. (Retd.) Jagath Alwis on behalf of the company’s Chairman Maj. (Retd.) Dulath L. Wijetilleke.
The project is expected to commence with an initial investment of US$ 33.8 million and is to be located in Colombo 4.
The project includes a 20-storey office complex of high-tech and energy-efficient rentable open spaces, complete with adequate parking facilities, executive luxury suites, a conference hall, a hi-end rooftop restaurant, and other amenities.
Sri Lanka is engaged in an aggressive development programme aimed at taking the country to the next level of development. The island is also fast becoming a business hub in the South Asian region given its geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country. All these have expanded business/investment opportunities in several key economic sectors in the country. Foreign businesses/investors could therefore explore the growing business/investment opportunities in Sri Lanka’s development programme.
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