Rakna Arakshaka Group ventures into mixed development

• Signs agreement with BOI Colombo 4 project with $ 34 m initial investment

Rakna Property Holdings Ltd., a subsidiary of State-owned Rakna Arakshaka Lanka Ltd., is foraying into the mixed development sector.

It recently signed an agreement with the Board of Investment (BOI) for a project with an initial investment of $ 33.8 million in Colombo 04. It will be a 20-storey office complex of high-tech and energy efficient rentable open spaces, complete with adequate parking facilities, executive luxury suites, a conference hall, a hi-end roof top restaurant and other amenities. 

Rakna Arakshaka Lanka is an organisation providing full-service in securities, training, and consulting, set up by the Government in 2006. It is also engaged in running restaurants and special projects.

The agreement was signed by BOI Chairman Sanjaya Mohottala and Rakna Property Holdings Director Major General (Retd.) Jagath Alwis, who represented the company’s Chairman Major (Retd.) Dulath L. Wijetilleke.