Tuesday Nov 05, 2024
FT
Tuesday Nov 05, 2024
Friday, 15 January 2021 00:35 - - {{hitsCtrl.values.hits}}
World-renowned financier and a member of the Rothschild family, Nathaniel Rothschild who is in Sri Lanka for a brief business tour, paid a visit to the Port City – Colombo yesterday.
He was accompanied by prominent Sri Lankan-born British Politician and former EU Parliamentarian Niranjan Deva Aditya and corporate sector veteran Rajan Brito.
Rothschild’s delegation was welcomed by Port City – Colombo Executive Project Director Raja Edirisuriya and of CHEC Port City – Colombo Assistant MD Yue Yeqing along with other senior Port City officials.
The delegation was briefed on the Port City Colombo project and its construction progress as well as future developments. Rothschild was highly impressed by the project, particularly the Marina and the hospitality plots.
The Rothschild family is well-known for their diversified business around the world, including the famous Rothschild Bank and Port Montenegro, a luxury yacht and residential project in the Adriatic Sea.
The visit concluded with Rothschild’s positive remarks on the project. The senior management of CHEC Port City Colombo, appreciated Rothschild’s visit and expressed willingness to continue dialogue with Rothschild for possible future cooperation.
Head of Commercial and Legal Eric Ou, Head of Strategy and Business Thulci Aluwihare, Director – Sales and Marketing Yamuna Jayaratne, CHEC Port City – Colombo Country Manager – SL Sales and Investor Relations Radhika Ellepola were also present during Rothschild visit.
Late last year, the first investment agreement for Port City – Colombo was signed between CHEC and Sri Lankan corporate giant LOLC through Browns Investment for the $ 1 billion CIFC complex. During the first quarter of this year, it’s expected that the Government will introduce the Special Economic Zone (SEZ) law to govern Port City – Colombo which will further enhance FDIs to Sri Lanka.
Port City – Colombo is a brand-new city development built as an extension of the existing Colombo CBD, with an initial investment of $ 1.4 billion and an expected $ 15 billion overall investment when completed. Spanning 269 hectares, it is a sea reclamation project connected to the current central business district.
Port City – Colombo is made up of five precincts – a financial district, central park living, an international island, the marina and island living.
When completed, Port City – Colombo is estimated to have 5.7 million square metres of built space, boasting some of the best in design in terms of grade-A offices, medical facilities, educational facilities, an integrated resort, a marina, retail destinations, hotels and other lifestyle developments. Using the latest sustainable city design and smart city concepts, Port City – Colombo will be the hub of South Asia.
