In The Press

CPC To Unveil In 30 Years With Aggressive Development


“Sri Lanka will be able to reap the fruitful profits and immense development in 30 years with the completion and opening up of the Colombo Port City (CPC) for the public,” Chief Sales and Marketing Officer, CHEC Port City Colombo (Pvt) Ltd, Liang Thow Ming said at the launch of the updated website of the CPC.
He further said that the time duration of the whole construction depends on the market factors.
Explaining the master plan of the project, Director of Planning and Development, CHEC Port City Colombo (Pvt) Ltd, Lim Kian Siew stated that, “the project is divided in to two phases: phase one and two whereas the reclamation process of the two phases and the infrastructure of phase one will be completed by 2020.”
He said the reclamation process will be completed in phase one and in comparison to the whole project, the estimation for the phase one floor area would be 6 – 7 Billion US Dollars (almost half of the whole project).
“1.4 billion US Dollars is the estimation for the reclamation and infrastructure whereas, we are expecting the development of the city including the buildings in 13 billion US Dollars. Therefore, the total investment is expected about 15 billion US Dollars,” Ming added.
Explaining the ownership of the property, Ming stressed that the whole piece of land belongs to the government and the company will operate the property on a 99 year lease.
“In the meantime, we are trying to get the investors interested in investing in the CPC,” he added.
“We have not actually cultivated the Chinese market here since in order to balance it by projecting an international image for the project. So far we have been concentrating on the Middle East, India, South East Asia and some Western countries,” he said when questioned on the possibilities of having Chinese investors interested in investing on CPC.
“We have talked to a lot of potential investors in many countries. We are also cooperating with major consultancy agencies to create the market awareness,” added Siew exemplifying the progression of the market awareness in order to attract investors.
Highlighting of the importance of having a complete lifestyle in the city, Ming explained that the CPC will not have just office buildings but will also ensure a good living area for the people.