Sino Lanka signs $ 5.6 m BOI agreement for mixed development project

Tuesday, 2 November 2021 03:03 - - {{hitsCtrl.values.hits}}

Sino Lanka Director Dhiren Kundanmal (left) accepts the agreement from BOI Board Director Dr. Harsha Cabral. BOI Board Director Sanjay Kulatunga and other officials are also present

The Board of Investment (BOI) has entered into an agreement with Sino Lanka Group for its latest development via Sino Lanka Properties Two Ltd., for a mixed development project at Rajagiriya.

The $ 5.6 million, 40,000 sq.ft. building will house five floors of usable space consisting of three floors of commercial and co-working space and two floors dedicated to hotel accommodation. The property will also include a rooftop restaurant and cafe, serving both in-house and external guests.

The proposed rooftop restaurant and cafe will be the first-of-its-kind in Rajagiriya, which is anticipated to be a much-needed recreational space, given the recent urbanisation of the city.

The development is the culmination of many years of experience in the property development and hospitality sectors in Sri Lanka with Sino Lanka Group actively operating in these areas through its investments in OZO Colombo and Kandy and Amari Galle.

With over 250,000 commuters passing by the property daily en-route to Colombo, it will provide alternate working options closer to home, instead of traveling to the city, as it is aimed at providing operating capacity for any business to set up as a satellite office or head office.

It will also be equipped with the latest technology to enable seamless integration and communication so that occupants can plug and play their devices or expand their operations. Each floor will be decked with biometric security and the latest fire and health safety protection devices available. The co-working space will host up to 80 workstations, including private offices, meeting rooms, shared desks and common areas.

The proposed hotel will be an upscale city hotel with 20 rooms and four spacious suites, catering to individuals, groups, business travellers and long-stay guests who prefer to stay away from the centre of Colombo yet would still need to be located close to the capital.

Sino Lanka Ltd., a family-owned enterprise headquartered in Sri Lanka, is involved in multiple ventures, including investments in hospitality, education, renewable energy and property development in Sri Lanka.