Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Sunday, 12 August 2012
Indo-China battle looms over prime property in Colombo
India has lodged a strong protest with Sri Lanka over the allocation of a prime Colombo property to a Chinese company though it was earmarked for India.The protests were delivered both in New Delhi and Colombo, an External Affairs Ministry source said yesterday. He was speaking on grounds of anonymity since EAM officials are not allowed to talk to the media.
The 287-perch property, once occupied by Shaw Wallace and Hedges, with frontage both to the Galle Road and the Duplication Road, has been given to the Chinese aircraft manufacturing firm CATIC or China National Aero Technology Import and Export Corporation. It is for what has been described as a “flagship project”. It is not immediately clear how much the Chinese company paid for the deal.