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Monday, September 21 2026
Monday, September 21 2026
MONETABRIEF – Sri Lanka's cabinet of ministers have approved Prime Melwa (Pvt) Ltd as a business of strategic importance in Colombo Port City, entitling it to tax relief, a government statement said.
The project will invest 112.2 million US dollars and 15.9 billion rupees, in developing a mixed-use water front project.
The project will face the marina in the Colombo Port City bordering the Indian Ocean, the promoters have said.
Prime is a property group and Melwa has interests including in construction steel and hotel properties.
The promoters have said they are targeting "international investors, expatriates, and high net worth buyers seeking a globally benchmarked waterfront lifestyle."
Colombo Port City was reclaimed from the sea by China Harbhour Engineering and its land parcels are sold to recover the cost. Part of the land will also be sold by the government.
The Port City is a special economic zone that is protected from the monetary instability from the central bank's policy rate and inflation bias through currency competition. (Colombo/Sept20/2026)
| 3 month bill | 9.22% | 22bp ▼ |
| 12-m bill | 9.91% | 10bp ▼ |
| Gold (Ounce) | $4602 | - - |
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