Rs. 4 b worth Galle Face Icon partners with Sampath Bank for project funding

Thursday, 30 December 2021 01:10 - - {{hitsCtrl.values.hits}}

From left: Sampath Bank Relationship Manager – Corporate Credit Tharindu Dhanushka, Chief Manager – Corporate Credit M.H.U. Dhananjaya, Senior DGM – International Banking Shashi Kandambi Jassim, and Galle Face Properties Directors Shamindra Rajiyah and Palitha Gunathilaka

Sampath Bank PLC recently partnered with Galle Face Properties Ltd., a subsidiary of conglomerate Renuka Holdings PLC, as the exclusive project funding partner for the development of the ‘Galle Face Icon’, a 30-storey building with ‘Grade A’ office space, amenities, serviced suites and recreational areas located between the Beira Lake and Galle Face Green.

Commenting on the funding amounting to Rs. 4 billion, Sampath Bank Senior Deputy General Manager – International Banking Shashi Kandambi said: “We are pleased to be a part of this prominent and upcoming flagship project of the Renuka Group – The Galle Face Icon - which we believe will be an important addition to the Central Business District of Colombo. We are proud to be associated with a true Sri Lankan conglomerate’s growth.”

Galle Face Properties Director Palitha Gunathilaka said: “We are equally pleased by the support extended by Sampath Bank and its foresight to partner with us on this iconic project.”

Architects of the project are PWA Architects while the construction of the project is handled by Sanken Construction Ltd. The ground-breaking took place in 2020 and the development is expected to be completed in 2023.

Renuka Holdings PLC, tracing its roots to 1866, is a diversified organisation listed on the Colombo Stock Exchange and is the holding company for subsidiaries engaged in Agri Food export, Consumer brands, Property and Investments.