The USD 120 million invested Marina development at the Colombo Port City is slated for completion by 2027, stimulating significant economic activity and helping position Colombo as a hub for maritime excellence, said Group Managing Director/CEO LOLC Holdings PLC Kapila Jayawardena, at its ground breaking ceremony last Friday.
“It also underscores Sri Lanka’s potential to lead in luxury tourism.”
Browns Investments PLC under LOLC Group has partnered with China Harbour Engineering Corporation for this development spanning a total land area of 3.1 hectares.
The Marina represents a transformative leap for Sri Lanka with its 250 vessel capacity and it is expected to be positioned as the only full service Marina between Dubai and Phuket.
“The government is expecting three million visitors and revenue in excess of USD 5 billion from tourism this year, a goal which is critical to the current economic recovery, ” said the Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath.
The Minister mentioned that the Marina project is consistent with governments policy which focuses on sustainable development, inclusive growth and creating opportunities for all Sri Lankans and is a landmark initiative that embodies Sri Lanka’s ambition, innovation and commitment to global excellence.
Herath further stressed that the Marina will redefine marine tourism across Asia and Colombo will clearly be on the map for luxury navigating between the Red Sea, Maldives and Far East.
“Marina with its high end facilities, enhances Sri Lanka’s multi-faceted destination as a premier destination for luxury tourism and MICE and will create a seamless blend of leisure and business attracting global tourists and investors alike.”
“As the first developer in Colombo Port City, this groundbreaking project aligns seamlessly with Browns Investments commitment to pioneering ventures that transform industries and contribute to the nation’s economic progress,” said, Chairman, Brown and Company PLC and Deputy Chairman, LOLC Holdings PLC, Ishara Nanayakkara.
“The Marina Development represents a unique opportunity to redefine the luxury tourism landscape in South Asia. Located at the crossroads of international maritime routes, Sri Lanka is ideally positioned to become a hub for luxury yachting. This development will not only elevate the country’s appeal as a premium travel destination but also symbolize the island’s resilience and ambition to rise as a global contender in the tourism and maritime industries. The groundbreaking of the Marina Development at Colombo Port City marks a significant milestone for Sri Lanka’s maritime tourism industry,” stated Chairman of the Colombo Port City Economic Commission Harsha Amarasekera.
“This project positions Sri Lanka to become a leading destination for luxury yachting in South Asia, attracting high-net- worth individuals and making a substantial contribution to the nation’s economic growth.”
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