Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Wednesday, 5 January 2011
Shangri-La lays down its grand plans for Sri Lanka
Plans to open a new hotel in Colombo in 2014 and 300-key resort in Hambanthota
Hong Kong-based Shangri-La Asia Limited yesterday officially announced the purchase of six acres of Government land facing the Galle Face Green promenade, a prominent landmark in Colombo, Sri Lanka.
The development will be a multi-use complex with high end retailing, deluxe apartments and a 500-key luxury hotel to open in early 2014 and the purchase marks the entry of the hotel group into Sri Lanka, often referred to as 'The Pearl of the Indian Ocean', a statement by the hotel chain said.
Shangri La is also planning to develop a second property, a 300-key city resort on approximately 100 acres of land in Hambantota, on the southern coast of Sri Lanka to open in 2013.