Business Times

Hambantota next ‘hot’ investment spot

By Duruthu Edirimuni Chandrasekera

Both local and foreign investors have the ‘hots’ for Hambantota and are scooting sites for mega leisure, manufacturing and other such projects, according to government sources.

“Dubai-based hotel chain Indigo has expressed interest in a 100-acre land in Hambantota for a mega hotel project, following the deal for a similar project by the Hong Kong based Shangri-La Group in Hambantota,” a source told the Business Times. Shangri-La estimates its luxury hotel is worth over US$ 100 million and this will be their second such project after they decided to build an up market property at Colombo’s army headquarters in a deal that was sealed last month.

The source said that Indigo is scouting land at the moment in Hambantota and interested in beachfront properties. “No sooner the land is finalised they plan to send the project proposal,” he added. He said that some multinationals are also mulling large manufacturing plants in Hambantota. “These are pertaining to diverse industries and will be large scale projects,” he added.

He also said that there are many Chinese hoteliers interested in essentially budget hotels to be put up in Hambantota as well as Colombo. “They see Hambantota as a busy hub when all the proposed projects materialize and want to be ready for the boom,” he added. He said that many Indian chains such as the Taj Group, Chennai-based Asiana Hotels Pvt Ltd and the budget hotels group, the Duet Hotels are interested in some lands down D.R. Wijewardena Mawatha at Colombo 10. The Pan Pacific Hotels Group, which is Singapore-based and the European Accor Hotels, operating in 90 countries have also initiated plans of ‘ideally’ joint venture partnerships with local hotels.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
Battle of the ‘Colas’
Sierra Cables to invest in hydro, leisure
Maldivian, Chinese firms want to list in CSE
Top official resigns
UAE Foreign Trade Minister to lead powerful trade team to Sri Lanka
CCC property deal before Cabinet committee
Comment - Cold spell disaster for food/beverages
Feature - Sri Lanka's Mannar basin oil wells to bear fruit
Hambantota next ‘hot’ investment spot
Free Microsoft software for all registered NGOs
ITI scientist breaks 'bitter' lime barrier
Brandix 2011 calendar focusses on power of water
SLT in 3-yr project to cut copper cable network, increases ADSL speeds
Citibank India scam could stall foreign bank entry: WSJ
Sri Lanka prepares to tackle impending food crisis
RAM upgrades power company Vidullanka
TFC aiming for Rs 1 bln profits in 3 years
More than 7,000 dogs helped by Embark by end 2010
Economic development through India-Sri Lanka partnership
Short term facility from LOLC
SriLankan Cargo sets new record for trans shipment through Colombo
Harcourts takes over Crescent International school
Hambantota awaits first fully fledged solar-power park: CEB
Dr Arul Sivagananathan - Hayleys new Head of BPO Operations
A muddle through year ahead for investors
Next-door to great: Humility
Standard Chartered Bank to support small businesses in Jaffna
Sky Network’s 4G takes broadband to new level in Sri Lanka
Liquidity to continue to flow into emerging markets- HSBC experts
Laugfs says 9-mth profits good, steaming ahead with new projects
Tea production expected to exceed all time high
Hutch Abisheka Reload Senakeliya rewards its customers
SL tourist arrivals up 46% in 2010
Royal Ceramics revenues up 20% up YoY
New Regional Director for MphasiS Lanka
Finance function vital in evaluating business opportunities
Post-war Sri Lanka sees gains in international economic freedom index
Most developing countries have recovered from crisis, projects steady global growth;World Bank says
FCCISL seminar on ‘Accreditation and its impact on international trade’
Emirates and Montblanc celebrate the iconic A380
Parakrama to address Indian shipping conference
CSE market cap to increase by 20% p.a. from this year
Oil drilling in Mannar basin in July
World's first 3D camcorder in Sri Lanka
Spence in 20-acre leisure facility
BOI told to bring in US$ 1 billion this year
Annual average inflation at 5.9% last year-CB


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2011 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution