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Thursday, October 15 2026
Thursday, October 15 2026
MONETABRIEF - Several projects which were said to be investing in Sri Lanka's Colombo Port City, involving a hospital, an educational institute a mixed development and casino are among those that have dropped out, a parliamentary panel has been told.
A project by Asiri hospital, the Gateway educational project, and a mixed development by a company called Clothespin Management and Development, are no longer proceeding, Chief Executive of Colombo Port City Economic Commission Revan Wikramasuriya said.
The investor was informed that the Clothespin project was not proceeding, he told the Committee on Public Finance of the Sri Lanka parliament.
COPF Chair Harsha de Silva questioned a proposed '7 star' hotel and the world largest art piece reportedly in the pursuit of a Guiness World record.
"Did you actually believe these things?" he asked.
A company called Universal Entertainment Colombo, which had expressed interest in a plot earmarked for an integrated resort with a casino had withdrawn after conducting due diligence, Wikramasuriya said.
But several projects were proceeding and construction had started.
Ceylon Real Estate Holdings, which was constructing a mixed development named CIFC, had started piling.
ICC Port City, a residential development had started construction.
IFC Colombo 01, was awaiting a gazette notice.
There were 118 land plots in the Colombo Port City. CHEC Port City Colombo, the China-backed company that reclaimed the land out of the sea, would sell 48. The government would sell 28 and also retain the common areas. (Colombo/Oct14/2026)
| 3 month bill | 9.26% | 1bp ▲ |
| 12-m bill | 9.95% | 2bp - |
| Gold (Ounce) | $4187 | - ▼ |
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