By: Staff Writer
September 17, Colombo (LNW): Port City Colombo is making significant strides in attracting high-value investments, particularly focusing on the South Asian, APAC, and Middle Eastern regions, with a special emphasis on Qatar, as the project intensifies its efforts to secure land development and business set-up deals before the end of 2024.
The project has already made headway, with 41 companies registered as Authorised Persons (APs) under the Colombo Port City Economic Commission. Furthermore, over half (52%) of the Marina District, which includes South Asia’s first luxury yacht marina and a five-star hotel, has secured investments.
Some of the prominent international and local companies onboard include Asiri Port City Hospital, TIQRI, CODEGEN INNOVATIONS, 99x Technology, IVIVAPTE, Echelon Trade, and Port City BPO, all designated as Businesses of Strategic Importance.
In a bid to enhance investment ties with Qatar, a high-level delegation from Port City Colombo, led by General Manager Tian Zheng and Senior Manager Asiri Peramunegegama, visited Doha from September 3 to 5, 2024.
The visit, facilitated by the Embassy of Sri Lanka in Doha and the Qatar-Sri Lanka Business Council (QSBC), aimed to promote investment opportunities within Port City Colombo, positioning it as a hub for commerce, finance, and tourism.
The delegation held key discussions with leading real estate companies in Qatar, exploring potential partnerships and investments in diverse sectors. Ambassador Mohamed Mafaz Mohideen underscored the importance of strengthening economic ties between Sri Lanka and Qatar, while QSBC President John Prasad highlighted Port City’s competitive advantages.
Prasad emphasized that Port City offers businesses direct access to European, Asian, and global markets at competitive costs. QSBC invited real estate investors to explore opportunities in developing hotels, luxury villas, residential complexes, and high-rise commercial towers within Port City.
The discussions also provided a platform to exchange insights on the investment prospects in Port City Colombo, contributing to Sri Lanka’s goal of attracting global investors and building a future-ready business ecosystem.
Currently, over 20 additional prospective investors are in the pipeline to become registered as APs, signaling growing confidence in Port City Colombo’s potential as a leading regional investment destination.
Located within the Colombo Port City Special Economic Zone, the project offers a low-risk financial environment, ensuring ease of business operations for international investors while remaining shielded from Sri Lanka’s domestic macroeconomic challenges. Port City Colombo is an FDI hotspot, offering a liveable master-planned city with a thriving commercial ecosystem.
The project allows transactions in 16 international currencies, with no capital or exchange controls, 100% foreign ownership, and fiscal incentives extending for more than 25 years.
Investors have two primary avenues for investment: land development, which includes residential and commercial property projects, and busin
ess set-up opportunities in sectors such as IT, financial services, hospitality, logistics, and more. To operate within the Colombo Port City Special Economic Zone, businesses must qualify as Authorised Persons, recognized by the Colombo Port City Economic Commission.Port City Colombo is poised to drive Sri Lanka’s transformation into a global investment hub, modeling its development after successful international economic zones like Dubai and Singapore.
