Sri Lanka’s BOI signs agreement with Spanish investor to build hotel with luxury cabanas
The Board of Investment (BOI) of Sri Lanka has announced that a Spanish investor is to build a hotel with 43 luxury cabanas close to the Yala nature reserve on Sri Lanka’s southeast coast.
The BOI has reportedly signed an agreement with Putus Brother’s Sustainable Developments (Private) Limited to build to construct and operate a 15-cabana hotel in Palatupana, Yala initially.
The total value of the project is US$ 1.6 million and the project will eventually consist of 43 luxury cabanas, the BOI has stated.
Initially, 15 cabanas, considered at 4 star luxury level, would be built, the BOI statement has noted.
All cabanas would have an individual swimming pool and a sea view.
“The recent problems are in my view temporary and in the long term the country will emerge as an attractive hub for tourism and investment,” Putus Brother’s Sustainable Developments director Narcis Clavelland was quoted as saying in the statement.
OSL take:
The signing of the latest agreement between Sri Lanka’s BOI and a Spanish investor to build a hotel consisting of luxury cabanas shows the renewed interest on the part of foreign investors in Sri Lanka’s tourism sector. The country’s tourism industry is currently returning to normalcy following the Easter Sunday attacks. Sri Lanka’s tourism industry is showing strong signs of a quick return to normalcy. Therefore foreign businesses could explore business/investment opportunities in Sri Lanka’s tourism industry.
| Article Code : | VBS/AT/14062019/Z_7 |