Access Engineering invests Rs.2.295 bn in Harbour Village

Access Engineering has invested Rs.2.295 bn in Hotel 10 (Private) Limited, a joint venture between Mustafa’s, China Harbour Engineering Company (Lanka) Limited and Access Engineering toset up a mixed development project

The development will take place on a five acre land situated at No.250,Srimath Ramanathan Mawatha, Colombo 15.This land which overlooks the Colombo Port, is located 2 km from the City Centre and the Port CityDevelopment.

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(Source: Daily News)

Foreign investors for over USD300,000 to get resident visas in Sri Lanka

 Sri Lanka’s Finance Minister said that foreigners who make a minimum investment of 300,000 US dollars will see a range of benefits including the granting of two to five-year resident visa permits.

New regulations would be introduced to increase the concessions and facilities granted to Foreign Direct Investment, Ravi Karunanayake, Finance Minister said, according to the media reports.

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(Source LBO)

All systems go for Krrish square project construction

The US$ 650 million-Krrish square project construction is now underway following the final payment (about Rs. 690 million or US$5.3 million) plus fines for the delayed payments being made, top officials of the Board of Investment (BOI) and Urban Development Authority (UDA) confirmed to Business Times (BT).

Krrish Transworks Colombo (Pvt) Ltd, local company of the Krrish Group signed a supplementary agreement with the BOI on November 29, 2016 to complete the project in 48 months, BOI chairman Upul Jayasuriya said on Wednesday in an interview with the BT.

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(Source: Sunday Times)