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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » JKH to engage with Govt. on Waterfront Project Rebranded as Cinnamon Life

JKH to engage with Govt. on Waterfront Project Rebranded as Cinnamon Life

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Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics

JKH to engage with Govt. on Waterfront Project Rebranded as Cinnamon Life

Premier blue chip corporate conglomerate John Keells Holdings PLC will engage with the new government on the Waterfront Project, a Ceylon Cold Stores PLC said in a Colombo Stock Exchange filing yesterday.This follows the announcement by Prime Minister Ranil Wickremesinghe in Parliament last week that the agreements entered into with Waterfront Properties ( Pvt) Ltd under the Strategic Development Projects Act will be amended to restrict the ability to rent space for gaming activities.

While the proposed amendments to the Act will constrain the ability to command premium rentals on this component of the project, the multifaceted nature of this development gives your Board, the confidence that the project was still viable, given its diverse portfolio of revenue streams and the iconic designs, which we believe, will transform the landscape of Colombo, the filing said.
As such, the project, will continue as planned. The overall brand architecture for the Waterfront Project, has now been finalized with the project being branded as 'Cinnamon Life' and demand for both residential and commercial spaces continues to remain encouraging, the filing said.

http://www.ceylontoday.lk/22-83948-news-detail-jkh-to-engage-with-govt-on-waterfront-project-rebranded-as-cinnamon-life.html

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics


John Keells Chairman Susathan Ratnayake said the project value US $ 850 million

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