| Business Standard | ||
| Friday, December 16, 2005 | ||
| Havelock City Project Takes Off | ||
| Tao’s US $ 250 million ‘city-within-city’ project kicked off on Thursday | ||
| By Special Correspondent Tao’s Shing Kwan Group began their long awaited Havelock City Development project last Thursday with a special ceremony in which all religions were represented. Ministers Rohitha Bogollagama, Dinesh Gunawardene and Sarath Amunugama were also present. Estimated to cost US$ 250 million, the Havelock City development will change the Colombo skyline and help Colombo to become a modern city with enhanced facilities. “This venture will not only be a national landmark but also a regional one,” S.P. Tao Chairman of Shing Kwan Group told the Business Standard. He said that he was grateful to the government of Sri Lanka, and the BOI and was looking forward to completing this project in time with the cooperation of the Bank of Ceylon. This ‘city within a city’ will consist of eight blocks of condominium housing providing over 1000 units of different sizes within a lush landscape and environment friendly setting. There will also be a 300 roomed Hotel and 200 serviced apartments, a shopping center with 250 shops, cinemas, supermarkets and an International food court. Local company Design Group Five International will team up with East China Architectural and Research company of Singapore in implementing the project. Dale Keller, an internationally acclaimed interior design consultant who was earlier involved in hotel & tourism development in Sri Lanka, will also be connected with this project. The Shing Kwan group is a leading real estate developer in Singapore. The project is locally handled by Mireka Capital Land which has been locally incorporated for the purpose. Mr. Tao who is one of Asia’s leading property development tycoons was the driving force behind Overseas Realty Ltd. which built the World Trade Centre twin towers in Colombo with the Bank of Ceylon. This project which qualifies for pioneering status with BOI will be an important aspect of the country’s Tourist Development plan which aims at drawing a million visitors to the island in the next few years. The land which previously belonged to Wellawatte Spinning and Weaving Mills was on offer for development for a long time. BOI under Ministers Anura Bandaraniake and Sarath Amunugama managed to sort out many difficulties, particularly in clearing the land, and got the project off the ground. |
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