FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post

Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Fertilizer ban relaxed: Stock-watch CIC
by ADVENTUS Today at 1:19 am

» Expolanka Holding
by cseguide Today at 12:08 am

» TAP and Greg from Tomorrow
by jaya Today at 12:03 am

» LGL and LMF run on the card
by jaya Yesterday at 11:34 pm

» What will happen to AMF¿??????
by dayandacool Yesterday at 10:52 pm

» Top Foreign Trading today
by SAGA Yesterday at 9:28 pm

» Boga unusual Collection....
by keeper Yesterday at 9:12 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by samaritan Yesterday at 6:42 pm

» Sell EXPO Buy EDEN sentiment changed to Exit EXPO Enter EDEN
by samaritan Yesterday at 6:23 pm

» Top crossings today
by SAGA Yesterday at 4:16 pm

» ROYAL CERAMICS PLC (RCL.N0000)
by chandike73 Yesterday at 3:28 pm

» Talks to get FedEx, Expo Freight hubs at BIA
by samaritan Yesterday at 1:05 pm

» L B Finance PLC (LFIN.N0000) - (1st Interim dividend for 1Q 2022)
by Venu123 Yesterday at 11:28 am

» PIRAMAL GLASS CEYLON PLC (GLAS.N0000)
by sandamal Yesterday at 11:07 am

» SEMB the ASPH
by soileconomy Mon Aug 02, 2021 9:31 pm

» Browns bullish on investments in local, international hotels
by SAGA Mon Aug 02, 2021 8:23 pm

» LAUGFS GAS PLC (LGL.N0000)
by Wickyz Mon Aug 02, 2021 2:06 pm

» Sri Lanka’s 213 billion rupee money printing to repay foreign debt: Treasury Secretary explains
by CITIZEN Mon Aug 02, 2021 11:25 am

» Oman shows interest in SLAF HQ land and Chalmer’s Granary
by dayandacool Mon Aug 02, 2021 11:03 am

» HVA FOODS PLC (HVA.N0000)
by prabath Mon Aug 02, 2021 10:05 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

FINANCIAL CHRONICLE™ » INVESTMENT OPPORTUNITIES

Villa Development - Port City

Published the Sun Jul 04, 2021 3:31 pm

    Description :

    Project Name :
    Port City - Villa Development
    Proposed Project Description :
    Luxury landed villa development /gated community with luxury amenities and facilities for villa owners / occupants

    Plot 2-01-01 is a Residential 1 plot in the Island Living District with a site area of 108,944.02 Sq.m. The development has an exclusive setting with waterfront and peaceful surroundings.

    The Island Living District is predominantly a residential area surrounded by the sea, the beach waterfront, the canal and the central park as leisure areas for the residents.

    The residential plot caters to villa development offering luxurious lifestyle with private waterfront and exclusive environment with the view of the Indian Ocean. The ocean view development will host club house with gymnasium, spa, media room, terraces and other premium facilities.
    Expected investment :
    Approx. Estimated USD 362.5 Million (including land lease and development) (Market research suggests it could be mix of 3 – 6 BR villas on plots of 15 – 60 perches each with built up areas of up to 10,000 sf. Based on this, project value of $ 450m is derived at an average selling price of $ 750 psf)
    Expected method of partnership :
    Foreign investors are permitted 100% ownership of real estate investment. Project Company is able to facilitate potential partnerships with interested parties locally and internationally, if required.
    Employment generation :
    NA
    Market potential :
    High. Colombo has been consecutively ranked as South Asia’s Best City to Live in by Mercer, reflecting Colombo’s attractiveness for businesses and mobile talent. Sri Lanka also offers a substantial pool of high quality human capital and competitive costs of doing business. Port City Colombo is expected to further enhance this appeal as a master-planned urban development. Following factors are expected to accelerate the roll-out of Port City: A Special Economic Zone law to promote economic activity in the Service Sector (Offshore banking, regional Head quarter operations, ICT, knowledge and tourism related services). Promote collaborations with international professional service companies to foster innovation and talent development. Prioritize government initiatives and incentives and investment into the most attractive priority sectors. Potential for growth in city tourism with currently a minimum presence of global hotel operators. Low rate of urbanization in Sri Lanka (18%) and low penetration of condominium living (10%). Lack of sizable land parcels for development in the existing CBD – particularly in close proximity to the beach and with access to modern high quality infrastructure.
    Payback period :
    NA
    Period to commence commercial operation :
    N/A
    Current status of the project :
    Available for investment
    Common infrastructure and utility availability :
    Temporary utility facilities (electricity/ water) and access to sites are available as at date to commence construction. Permanent utility connections will be provided by June 2022.

    The Port Access Elevated Highway, connecting the Bandaranaike International Airport to Port City within 25 minutes, is under construction and is expected to be completed by September 2022. This will also connect Port City to the National Expressway network.

    Port City is located in the heart of Sri Lanka’s capital, adjoining the Port of Colombo and in close proximity to the main railway and bus stations in Colombo.
    Geographical Location :
    6°56'04.7"N 79°49'28.2"E
    Land Extend :
    Sri Lanka
    Estimated Land value :
    Market prices to be negotiated based on project proposal
    Land Agreement/ownership :
    99 years lease from the Government of Sri Lanka. Condominium units can be transferred on a free hold basis
    Benefits to the Investor :
    Depending on the size of the investment, Income tax holidays for up to 25 years and a waiver of border tariffs & sales taxes on construction material (Developer cost savings of 30% - 40%).

    Dividends to non-resident entities are exempt from income and withholding taxes.

    Property and wealth taxes are also not applicable in Sri Lanka as at date.

    Sri Lanka also has avoidance of double-tax treaties with 46 nations.

    Permits 100% repatriation of capital and profits.

    Access to talented human capital of a 92% literacy rate; 30% lower costs in comparison with the other outsourcing destinations.

    Port City is expected to be declared as a Special Economic Zone for services, with enhanced fiscal incentives and simplified processes for investment and conducting business. Further details will be provided during the presentation.
    Contact details :
    (Name, Designation, Institute, Telephone, Email, Website)
    Ms. Yamuna Jayaratne
    Director-Sales and Marketing, CHEC Port City Colombo (Pvt) Ltd
    +94764548583
    yamunaj@chec.lk

    Vendor details

    • PseudoCHEC Port City Colombo
    • Vendor typeProfessional