SRI LANKA’S MEGA $1.4 BLN PORT CITY PROJECT READY TO BE MARKETED TO INVESTORS
Posted on April 11th, 2018

Colombo, April 11 (newsin.asia) – China Harbour Engineering Company, which is constructing a mega 1.4 billion dollar Port City project close to the Colombo Harbour, on Tuesday evening presented the Colombo Port City’s Development Control Regulations (DCR) to the government which will now enable land to be sold to investors.

In an event held in Colombo titled, ‘Roadmap to Prosperity’, the DCR was handed over to Minister of Megapolis and Western Development, Champika Ranawaka and the Urban Development Authority.

The DCR provides details on the use of land and development regulations which will need to be maintained by developers, investors and all other development partners of the Colombo Port City.

It directs all partners with a set of development objectives, definition and regulations which will enable the Port City to be more connected and provide a higher quality of life with provision for space for people to socialize and interact in.

Speaking at the event, Minister Ranawaka said that with the DCR now ready, marketing teams could now actively market the plot of lands in the Colombo Port City as valuable real estate.

He said the DCR will also enable good town planning, the best designs, state of the art technology and the best work practices to be upheld in the Port City.

The DCR will benchmark standards for the Megapolis  and the rest of country,” the Minister said.

Spread over 269 hectares of land reclaimed from the sea adjacent to the present commercial district of Colombo, the Colombo Port City will be a commercial, financial, residential and international entertainment hub in the Indian Ocean region.

It will be the first of its kind to be constructed in South Asia.
Once completed, it is estimated to have 5.65 million square meters of built up space, with some of the best designed infrastructure to make it a hub in South Asia.

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