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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » HORTON SQUARE

HORTON SQUARE

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1HORTON SQUARE Empty HORTON SQUARE Thu Apr 20, 2017 4:24 am

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
[size=33]Horton Square USD 250mn project breaks ground[/size]
Author LBO
Posted on April 18, 2017 | Featured, Real Estate & ConstructionHORTON SQUARE Horton-1




Apr 18, 2017 (LBO) – The ground-breaking ceremony of Horton Square, St Regis Hotels and Residences was held at the former Central Hospital premises in Colombo 7, Monday.
The construction of the project will start this year and development project would be ready by 2020.
The luxury St Regis Hotel, the brand of the Starwood Group, would also be housed in this real estate development project.
World renowned partners including Zhongtian Group as the key construction partner, leading architects Archedium and strategic partners from countries including Singapore, China, Japan, USA and the UK are contributing to the project.
The total investment would be US $ 250 million.
“Today’s ground-breaking of Horton Square marks a milestone for Sri Lanka. This is not just another building but a symbol of renewed investor confidence both in the future of Sri Lanka, its growth potential, as well as the aspirations of her people. Sri Lanka is emerging as a ‘high value’ destination both for foreign investment boosting the economy, and for tourists,” said Paul Kelly, Chief Executive Officer of the Horton Square Pte Ltd.
“In addition to the strength of our combined skill sets, the contribution and professionalism displayed by the Ministry of for Sri Lanka tourism for Horton Square has been highly commendable.
“The project itself represents a vote of confidence in Sri Lanka’s construction industry, the development of a megalopolis and the growth of tourism. It represent a symbol of confidence in Sri Lanka and other international investors will surely follow.”
The construction of the project is handled by Zhongtian Construction which is a subsidiary of private firm Zhongtian Development Holding Group Ltd. The firm is an infrastructure development company which has undertaken projects in China and other Asian countries.
“Horton Square” will be one of the tallest twin towers in the country with a total of 75 floors in each tower being built simultaneously.

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