The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting
Search
Display results as :
Advanced Search
Latest topics
Plantation Sector UpdatesTue Oct 20, 2020 3:11 pmslstock
HAYC - HaycarbFri Oct 16, 2020 12:55 amsubash
LWL.N0000 (Lanka Walltiles PLC)Fri Oct 16, 2020 12:50 amsubash
CSE Daylight Robbery !Mon Sep 21, 2020 9:54 pmYin-Yang
Trading Journal Tue Sep 15, 2020 10:37 pmThe Invisible
AEL Access EngineeringTue Sep 15, 2020 7:24 pmsmallville
CFVF - First CapitalWed Sep 09, 2020 9:42 pmWonderer
අනං මනං! #/+?.<>Tue Aug 18, 2020 11:15 pmYin-Yang
Dividend AnnouncementsMon Aug 17, 2020 1:27 pmRana
Ceylon Tobacco CTCSun Aug 16, 2020 5:11 pmThe Invisible
Sunshine HoldingsFri Aug 14, 2020 9:39 pmThe Invisible
Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Go down
sashimaal
sashimaal
Top contributor
Top contributor
Posts : 5785
Join date : 2014-02-28

Shangri-La hikes Sri Lankan investment by 60 pct to $800 mln Empty Shangri-La hikes Sri Lankan investment by 60 pct to $800 mln

on Mon Mar 13, 2017 5:28 pm
COLOMBO, March 13 (Reuters) - Hong Kong-based Shangri-La Asia has increased its investment in Sri Lankan properties by 60 percent to $800 million, in order to meet demand for larger-than-planned apartments in Colombo, an official said on Monday.

The international hotel brand had originally planned to invest $500 million in a 541-room hotel and 390 apartments in Colombo and another 300-room resort in the island nation's southern district of Hambantota.

"Investment has increased because of the project enhancement," Neluka de Alwis, head of sales and marketing at Shangri-La Hotels Lanka (Private) Limited, told Reuters.

The company has changed the design of the apartments due to demand for larger units, de Alwis added.

Shangri-La, in 2012, had estimated that the total cost of the project could climb by 10 percent to $550 million due to last-minute design changes.

De Alwis said the Colombo hotel was expected to be completed by 2017, later than an initial target of 2015, while the apartments, shopping complex and conference facilities would be finished by 2018.

Shangri-La has already opened the resort in Hambantota, where Sri Lanka is considering creating a special economic zone for Chinese investors.

The 300-room Hambantota resort on 145 acres of beach-front land is the first of the two luxury property projects in Sri Lanka that the Hong Kong-listed group has planned in a bid to cash in on the boom in tourist arrivals following the end of the country's 26-year war nearly eight years ago.

Sri Lanka's tourist arrivals and revenue from tourism hit record highs in 2016.

Shangri-La Hotels and Resorts currently manages 99 hotels around the world under the Shangri-La brand with a room inventory of over 40,000.
Back to top
Permissions in this forum:
You cannot reply to topics in this forum