The feasibility study evaluation of the mega 'city within a city' project announced by Finlays Colombo Plc, (Finlays) John Keells Holdings (JKH) and Associated Motorways Plc (AMW) early this year, will be done in two months by the three companies, according to a Finlays official.
"We have invited three reputed international firms of architects to submit concept plans and designs. When this stage is completed we will evaluate how feasible this project is, given today's business climate and whether we can market this. If the three partners (after all these considerations) find a particular concept and design being feasible, we will seek the approval of the respective boards to set up a joint venture (JV) and make the investment required to undertake the project," Kumar Jayasuriya, Chairman and Managing Director Finlays told The Sunday Times FT.
He said the three concept designs– prepared by two American design firms and a Singaporean company will be submitted early next year. "These will come in January and by May-June after the evaluation processes, we will decide whether to go for the JV," he added.
He said this property has access to both Union Place and Vauxhall Street. When asked why Finlays got involved (as initially the project was to be done by only AMW and JKH), Mr. Jayasuriya said, "Finlays will add more scale and scope to this project, as wth the Finlays land the extent will increase to 7.5 acres. This will help us differentiate it from other such projects."