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Rules ready for $1.4 billion Port City project in Sri Lanka

Staff Writer | April 11, 2018
China Harbour Engineering Company, which is constructing a mega 1.4 billion dollar Port City project close to the Colombo Harbour, presented the project's Development Control Regulations (DCR) to the government which will enable land to be sold to investors.
Colombo port
Shipping   China Harbour Engineering Company
In an event held in Colombo, the DCR was handed over to Minister of Megapolis and Western Development, Champika Ranawaka and the Urban Development Authority.

The DCR provides details on the use of land and development regulations to be maintained by developers, investors and all other development partners of the project.

Speaking at the event, Ranawaka said that with the DCR now ready, marketing teams could now actively market the plot of lands in the Colombo Port City as valuable real estate.

"The DCR will benchmark standards for the Megapolis and the rest of country," the minister said.

Speaking further on the project, Minister Ranawaka said the project will attract the right investors and long term partners to Sri Lanka which will economically and socially benefit the island country.

Spread over 269 hectares of land reclaimed from the sea adjacent to the present commercial district of Colombo, the Colombo Port City will be a commercial, financial, residential and international entertainment hub in the Indian Ocean region.