EAP Group launches 5- storey Cinema Multiplex and Retail/ Commercial Complex at Rajagiriya

The Galaxy Impala is the first of a series of cinema multiplexes cum retail/commercial complexes that Galaxy Landmarks is planning to construct.The Galaxy Impala Complex will serve as an entertainment hub for the whole family and will feature 4 state-of-the-art cinemas with the latest digital technology, which will be operated by EAP Films & Theatres. The complex will also cater to the lifestyle requirements of customers by offering multiple storeys of shops with a range of branded items and high quality local products, as well as food courts and several fine-dining restaurants.

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(Source: Sunday Times)

Mega “Kandy City Urban Upgrading Project” on track to ease congestion

The joint venture between Engineering Consultants (Pvt) Ltd (ECL), Sri Lanka’s leading multi-disciplinary consulting company, and Keios Development Consulting of Italy, has been awarded the consultancy contract of the “Kandy City Urban Upgrading Project”implemented by the Strategic Cities Development Project (SCDP).

Keios provides planning, design and technical assistance services in the fields of urban development, cultural heritage and sustainable tourism, according to an ECL media release. The popular city of Kandy has many issues such as traffic congestion, lack of good pedestrian connectivity and vibrant public spaces, unplanned development, degradation of cultural assets, threats of landslides, lake shore erosion, and social challenges due to impending gentrification.

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(Source: Sunday Times)

China's man-made island takes shape in Sri Lanka

The Ocean seafood restaurant at Colombo’s five-star The Kingsbury was once famous for its magnificent view of the Indian Ocean. Its open-air wooden terrace that runs along the hotel’s western façade used to be so close to the beautiful coastline that waves lapped the rocks, sending sprays of sea foam into the air.

Not anymore.

The once popular ocean view is now a massive construction site of what is slated to become the most modern metropolis in South Asia, the Port City.

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(Source: Channel News Asia)

Sri Lanka softens stance on China-backed port project

Sri Lanka is offering a compromise that could allow a major Chinese-backed real estate project to restart after months of delays, Finance Minister Ravi Karunanayake told Reuters on Monday.

The minister’s comments come a week before a parliamentary election in which the ruling party has an edge over an Opposition led by Mahinda Rajapaksa. The China-friendly ex-president, who was ousted in January, is attempting a comeback.

The $1.4 billion Colombo port city project was suspended by President Maithripala Sirisena’s new government in March because it was found not to have the proper permits and approvals.

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(Source: Ada Derana)

Indian investor to build SL’s tallest building as a tribute to Arjuna’s winning world cup team

Shreepati Edifice (Pvt) Ltd, one of India’s biggest real estate development groups, plans to construct Sri Lanka’s tallest building in a tube-shaped structure as a tribute to Arjuna Ranatunga’s World Cup winning 1996 team.

The company signed an agreement with the Board of Investment (BOI) of Sri Lanka to invest US$ 330 million in this mixed development hybrid project called the “1996 Iconic Tower”.

In a media release, the BOI said the tower will be the tallest building in the country with 96 floors at an approximate height of 363 metres and when completed will have 376 residential apartments, 92 Penthouses and all modern amenities. It is anticipated that the tower will be completed within 48 months.

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(Source: Sunday Times)