Hayleys, among Sri Lanka’s three biggest conglomerates, is to develop a gigantic commercial and residential complex at its 6-acre property in Colombo.  The company has been tight-lipped about the plan with no indication in the last 2015-2016 annual report or this week’s quarterly results. However the curiosity of some staff was aroused by soil tests [...]

The Sunday Times Sri Lanka

New complex for Hayleys

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Hayleys, among Sri Lanka’s three biggest conglomerates, is to develop a gigantic commercial and residential complex at its 6-acre property in Colombo.  The company has been tight-lipped about the plan with no indication in the last 2015-2016 annual report or this week’s quarterly results. However the curiosity of some staff was aroused by soil tests carried out at the current Deans Road – Foster Lane complex on Thursday.  Scouring the Internet, the development plan is contained in a 2015 report by Colombo-based Real Estate Intelligence Unit (RIU) which provides the conceptual drawing of the towers and other details.,

Some sources said the complex will have two towers with the phase one tower consisting of 40-45 floors. It is unclear whether the present premises would be retained or torn down. These sources also said a similar development plan was discussed during the time Rajan Yatawara was chairman of the group which is now headed by Mohan Pandithage (Chairman) and Dhammika Perera (Co-Chairman)  According to the RIU report, the complex will be a mixed development site with commercial, office, retail, residential and entertainment facilities. It is also slated to have shops and an entertainment complex.  -DEC

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