GVR Lanka’s mixed development: BOI project will be an “oasis of tranquility”

The Board of Investment (BOI) signed an agreement with GVR Lanka Pvt Ltd to set up the first ever Mixed Development Real Estate Project in Kandy, close to the famous “Elephant Bath” locality. The project is planned by two Sri Lanka born US entrepreneurs and will be managed by an experienced team of hospitality sector professionals. Chairman of GVR Lanka (Pvt) Ltd Mahasen Samaravijaya stated: “We believe, with its location and luxurious amenities, the complex can be marketed as an “Oasis of Tranquility” providing an unparalleled lifestyle experience to its hotel guests and apartment owners”.

Minister of Investment Promotion Lakshman Yapa Abeywardena formally presented the BOI Certificate of Registration to Mohan Chandramohan and MahasenSamaravijaya.

Serendip Investment Group Board Member Mohan Chandramohan, representing the parent company of GVR Lanka, stated: “We want to be an integral part of Sri Lanka’s success and more importantly, to do something for our hometown Kandy.  Both Mahasen Samaravijaya and I are from Kandy.” He added “We will absolutely ensure that the project is conceptualised and completed in a socially responsible manner”.

The first phase of the project, which is a 15 story luxury residential apartment complex, will consist of 26 two-bedroom apartments, 52 three-bedroom apartments and 4 penthouses. The second phase of the project will consist of a separate 21 story building containing 144 units, four star hotel rooms with some serviced apartments. Amenities will also include a health spa, function halls, an arcade and rooftop terrace restaurants. The restaurants will have a 360 degree view of the mountain range, the majestic Mahaweli River and the historic Kandy city.  Minister of Invest-ment Promotion LakshmanYapaAbeywardena stated: “Tourism has been given a very important role by the government because it is a sector where Sri Lanka has a strong competitive advantage.  Since our objective is to achieve 2.5 million tourist arrivals by 2016, it is essential that tourism related infrastructure such as hotel room capacity is significantly increased.  Kandy with its scenic beauty and religious and cultural importance to the country will greatly benefit from this project”.