Sri Lanka’s Renuka Holdings commences construction of Galle Face Icon - Opportunity Sri Lanka
Sri Lanka’s Renuka Holdings commences construction of Galle Face Icon

Sri Lanka’s Renuka Holdings commences construction of Galle Face Icon

Sri Lankan conglomerate Renuka Holdings has reportedly commenced the construction of its flagship development – the Galle Face Icon – with a ground breaking ceremony held last week.
The ground-breaking ceremony was held in the presence of Renuka Group Chairperson Indu Rajiyah, Galle Face Properties Chairman Dr. Ranjit Rajiyah, Managing Director Shamindra Rajiyah, Sanken Construction Managing Director Ranjith Gunatilleke and Phillip Weeraratne of PWA Architects, among other officials and guests, the local media reports stated.
According to reports, the Galle Face Icon project will be a 32-storey building situated in the Galle Face District of Colombo 03, and once completed will receive the Gold Standard lead certification. With a total construction area of 450,000 sq. ft., the building will have Grade A office spaces in 22 floors with room for 300 car park slots. The top three floors will be the Galle Face Icon Club which will consist of a members’ lounge, restaurant, bar and also spaces for meetings and conference. The terrace area will have uninterrupted vistas of the Indian Ocean, Galle Face Green and the Beira Lake area.
Operated by Renuka’s subsidiary Galle Face Properties Ltd., the Galle Face Icon is located between the Beira Lake and Galle Face, with multiple access points.
Reports further state that the construction is spearheaded by Sanken Construction Ltd. with PWA Architects. Also involved are Perigon Lanka Ltd. as project managers, civil and structural engineering consultants and structural engineers, Haritha Consultants as MEP engineers and LJ Energy Lanka Ltd. as the green consultants.

OSL take:

The launching of the construction of Galle Face Icon in Sri Lanka is indicative of the constant expansion of business/investment opportunities in the country. Sri Lanka is on an aggressive development path covering all key economic sectors in the country. Sri Lanka’s geographical positioning in the Indian Ocean, The ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region. Foreign businesses/investors could therefore confidently explore business opportunities in Sri Lanka.

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Article Code : VBS/AT/06022020/Z_1

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