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A second new 500 million USD hotel in Galle Face area
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Author:  Saman [ Sat Feb 05, 2011 3:18 pm ]
Post subject:  A second new 500 million USD hotel in Galle Face area

A second new 500 million USD hotel in Galle Face area
Sri Lanka to get five star hotel and shopping complex from China aviation firm

© Lanka Business Online

The project proposal will be on the same lines as an earlier deal with Hong Kong based Shangri-La leisure group to build a 500 million dollar hotel and shopping complex, the government said.

Jan 14, 2010 (LBO) - A Chinese aviation firm will build a 500 million US dollar hotel and shopping complex in the main beachfront of Sri Lanka's capital Colombo, the government said.

China National Aero Technology Import and Export Corporation (CATIC) will buy land in Colombo's Galle Face area to build a five star hotel and shopping complex. The proposal by economic development minister Basil Rajapaksa has been approved by the cabinet of minister, the government's information office said.

The project proposal will be on the same lines as an earlier deal with Hong Kong based Shangri-La leisure group to build a 500 million dollar hotel and shopping complex, the government said. Shangri-La will get state land on which a military sports ground was located.


Related:
Shangri La Plans to open a new hotel in Colombo in 2014 and 300-key resort in Hambanthota

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