JKH plans even larger condominium
By Srian Obeyesekere
Sri Lanka’s premier blue-chip, John Keells Holdings Group (JKH) is planning to build a mega mixed development project on the current head office premises in Colombo commencing March 2015 even larger than the ‘OnThree-20’ project presently under construction, The Bottom Line reliably learns. According to informed sources, this project would even exceed the 40, 000 square metres space of the present ‘Crescat Boulevard’ shopping mall in Colombo.
“The JKH multi-million rupee project off Glennie Street behind Ceylon Cold Stores is in keeping with a management concept to cash in on greater ‘Colombo facilities’ on the back of a growing tourism industry where there are no super shopping malls in Colombo,” a source close on the grounds of anonymity told The Bottom Line.
It is understood the project, which would be either a single tower or in the crescat format with a separate hotel, apartments and shopping mall, is being given the highest priority by the John Keells management.
When The Bottom Line spoke to the Deputy Chairman of JKH, Ajith Gunawardena, he however was tight lipped on this proposed venture saying, “When it (mega project) is finalised we will make it public.”
However, the Head of Properties at JKH, Suresh Rajendra, said, “As of now nothing has been approved and it is in its preliminary stage of exploration. The intended project is being gone into by a handpicked committee.”
The JKH Head of Properties emphasised that this proposed project could be a multi-million one in what he stressed was the extending of the group’s land bank across Colombo.
“We are looking at the mega project in the context of spreading our land bank in the city in which respect at this stage we are looking at what can be done in respect of such a mega project,” Rajendra specified.
Towards this end JKH already has the Emperor project and Monarch besides the On Three-20, the latter with three high-rise towers on which work got underway in April this year.