Business
City of Galle also to see reclamation of land from sea
New tourist city designed to span on 40 hectares of reclaimed land
An investment of US$175 million sought to complete it in three years
by Sanath Nanayakkare
The government of Sri Lanka last week invited investors across the world to come and invest in building an exclusive tourist port in the ancient city of Galle in the South of Sri Lanka, founded by Portuguese colonists in the 16th century and extensively fortified by the Dutch during the 17th century.
“An investment of US$175 million is sought to establish the tourist city to attract more foreign cruise vessels to boost tourism. Return on investment (ROI) from the project is to be ensured with promising demand for marina infrastructure developments and real estate developments connected with tourism,”a panel of speakers addressing the hybrid investment symposium told the potential investors.
The speakers were from Sri Lanka Ports Authority, The Board of Investments, experts knowledgeable on foreign direct investments, tax concessions and environmental aspects related to projects of this nature. They provided answers to questions from the audience that consisted of investors keen to do business with Sri Lanka.
“The proposed new tourist space is designed to span on 40 hectares of reclaimed land, taking a cue from the Port City of Colombo, Rohitha Abeygunawardana”, Minister of Shipping said.
“The project will transform Galle like Colombo in its economic and metropolitan significance creating dividends for all people in the region,” he said. The minister said that the government would be fully conscious of any environmental impacts, and therefore, the development would take place in accordance with environmental laws of the country.
“Sri Lanka Ports Authority’s plans include changing the existing port in Galle as a fully-fledged tourist port with a 150-metre length cruise berth, reclamation to increase Galle’s land area by another 40 hectares. It will feature a modern real estate business model and a state-of-the-art cruise terminal,” the panel told the participating investors.
“The project is open for potential investors through Expression of Interest (EOI) and Request for Proposal (RFP) processes ensuring a transparent bidding process,” they said.
“The proposed development project expects to avail fully-fledged facilities in the gulf of Galle to make possible the berthing of cruise ships, luxury yachts, boats, water sports and many more activities. In real estate development, this will be a ground-floor opportunity for investors to build water bungalows, villas, apartments, restaurants, hotels etc. The goal of this development project is to ensure that everything is within the leisure traveller’s reach,” they said.
“This is a unique and valuable investment opportunity to investors who are looking to thrive on the tourism sector and earn a higher return on their investment. The development venture is going to create thousands of direct and indirect jobs for local communities sand help fulfill the macroeconomic objectives of achieving people-centric economic aspirations, Dr. Ramesh Pathirana, Minister of Plantation and Galle District MP told The Island Financial Review.
The two minister assured that both local and foreign investors would be facilitated expeditiously when they have made their bids.
The project is to be completed in 3 years and the government expects the project will help increase annual tourist arrivals up to seven million.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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