Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Monday, 1 July 2013
Chinese firm Avic gets special status for a mixed development Colombo project
The Sri Lanka Government has given strategic investment project status to the US$300 million mixed development project of Avic International Corporation in a prime property in Colombo.
The ‘Colpetty Mills’ land extending to 542 perches is owned by Shaw Wallace and Hedges PLC and a large slice was sold to Avic, a top official of the company, an influential group with lot of Sri Lankan Government contracts, said. The land has access from both Galle Road and Duplication Road.