Sunday, 2 February 2014

Shangri La Colombo hotel on stream; other plans on hold

Hong Kong-based Shangri La group is focusing on Phase 1 of its Colombo project – construction of a luxury 500-room hotel but re-thinking its Phase 2 development of luxury residencies and a 25,000 square metre high-end shopping mall, official sources said.

Piling work at the Shangri-La, Colombo hotel site is now underway after around two years of its ground breaking ceremony held in Colombo on February 2012. But the company is in two minds on the construction of the luxury apartment complex due to insufficient demand, a senior official said adding that the company might drop the idea after assessing market conditions.


(Source: Sunday Times)

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