Port City Colombo celebrated the groundbreaking of the Marina Development at Port City Colombo with a special ceremony held on 10th January 2025.
The occasion was graced by Chief Guest, Hon. Vijitha Herath, Minister of Foreign Affairs, Foreign Employment & Tourism. Also present at the event were H.E. Qi Zhenhong, Ambassador, Embassy of the People’s Republic of China; Mr. Harsha Amarasekera, Chairman, the Colombo Port City Economic Commission; Mr. Ishara Nanayakkara; Chairman, Brown and Company PLC and Deputy Chairman, LOLC Holdings PLC; Mr. Kapila Jayawardena – Group Managing Director/CEO, LOLC Holdings PLC; Mr. Kamantha Amarasekera – Director, Browns Investments PLC; Mr. Wang Gang, Managing Director, China Harbour Engineering Company, and Mr. Xiong Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd.
The occasion served to showcase the project’s progress and readiness for investment, whilst also marking a significant milestone for marine tourism in Sri Lanka and South Asia. The luxury
Marina Development at Port City Colombo is being undertaken as a joint venture between Browns Investments PLC (BI), the strategic investment arm of the LOLC Group, and China Harbour Engineering Company (CHEC). It is noteworthy to mention that BI was one of the first Sri Lankan companies to invest in Port City Colombo and to date, is currently the largest investor. Browns Investment PLC has invested in six land plots, of which this development includes four plots in the Marina District.
“As the first developer in Colombo Port City, Browns Investments PLC takes immense pride in spearheading this groundbreaking initiative. This project aligns seamlessly with BI’s commitment to pioneering ventures that transform industries and contribute to the nation’s economic progress,” said Mr. Ishara Nanayakkara, Chairman, Brown and Company PLC and Deputy Chairman, LOLC Holdings PLC.
He added, “The Marina Development represents a unique opportunity to redefine the luxury tourism landscape in South Asia. Located at the crossroads of international maritime routes, Sri Lanka is ideally positioned to become a hub for luxury yachting. This development will not only elevate the country’s appeal as a premium travel destination but also symbolise the island’s resilience and ambition to rise as a global contender in the tourism and maritime industries.”
Spanning a total land area of 33,776 sqm, the Marina Development will feature state-of-the-art facilities, including sunset bars, seaside restaurants, retail outlets, and entertainment spaces, creating a vibrant and sophisticated environment for visitors. Designed to cater to a global clientele, the Marina will offer berthing space for up to 200 mid-to-large-sized vessels, filling a critical infrastructure gap in the region.
“With a total investment of USD 120 million, the Marina Development is slated for completion by 2027,” said Mr. Kapila Jayawardena, Group Managing Director/CEO LOLC Holdings PLC. “This project underscores Sri Lanka’s potential to lead in luxury tourism while stimulating significant economic activity and positioning Colombo as a hub for maritime excellence.”
Capitalising on Sri Lanka’s natural beauty, historical significance, and strategic location, the Marina Development will establish the island as a crucial stopover for yachts traveling between the Red Sea, the Maldives, and the Far East. Sri Lanka’s year-round favourable climate and proximity to key maritime routes makes it an attractive alternative to regional peers.
Furthermore, the development addresses an untapped market opportunity by catering to the growing number of high-net-worth individuals in neighbouring India, who represent an expanding segment for luxury maritime services.
“The groundbreaking of the Marina Development at Colombo Port City marks a significant milestone for Sri Lanka’s maritime tourism industry,” stated Harsha Amarasekera, Chairman of the Colombo Port City Economic Commission. “This project positions Sri Lanka to become a leading destination for luxury yachting in South Asia, attracting high-net-worth individuals and making a substantial contribution to the nation’s economic growth. The Colombo Port City Economic Commission is proud to support this project and eagerly anticipates witnessing its transformative impact on Sri Lanka’s tourism and maritime sectors. We are confident that this development will significantly contribute to establishing Colombo Port City as a regional business hub.”
As Sri Lanka targets 3 million tourists and USD 5 billion in revenue by 2025, the Marina Development at Port City Colombo is another significant step towards realising the vision of establishing Sri Lanka as the preferred destination for luxury tourism in South Asia. Beyond its tourism appeal, the project is expected to create thousands of direct and indirect jobs, attract foreign investment, and strengthen Sri Lanka’s position on the global map.
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