PORT CITY COLOMBO CELEBRATES THE GROUNDBREAKING OF THE LUXURY MARINA DEVELOPMENT

Port City Colombo celebrated the groundbreaking of the Marina Development with a special ceremony held on 10th January 2025. The occasion was graced by Chief Guest, Hon. Vijitha Herath, Minister of Foreign Affairs, Foreign Employment & Tourism. Also present at the event were H.E. Qi Zhenhong, Ambassador, Embassy of the People’s Republic of China; Mr. Harsha Amarasekara, Chairman, the Colombo Port City Economic Commission; Mr. Ishara Nanayakkara; Chairman, Brown and Company PLC and Deputy Chairman, LOLC Holdings PLC; Mr. Kapila Jayawardena – Group Managing Director/CEO, LOLC Holdings PLC; Mr. Kamatha Amarasekera – Director, Browns Investments PLC; Mr. Wang Gang, Managing Director, China Harbour Engineering Company, and Mr. Xiong Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd.

The occasion served to showcase the project’s progress and readiness for investment, whilst also marking a significant milestone for marine tourism in Sri Lanka and South Asia. The luxury Marina Development at Port City Colombo is being undertaken as a joint venture between Browns Investments PLC (BI), the strategic investment arm of the LOLC Group, and China Harbour Engineering Company (CHEC). It is noteworthy to mention that BI was one of the first Sri Lankan companies to invest in Port City Colombo and to date, is currently the largest investor. Browns Investments PLC has invested in six land plots, of which this development includes two plots in the Marina District.

“As the first developer in Colombo Port City, Browns Investments PLC takes immense pride in spearheading this groundbreaking initiative. This project aligns seamlessly with BI’s commitment to pioneering ventures that transform industries and contribute to the nation’s economic progress,” said Mr. Ishara Nanayakkara, Chairman, Brown and Company PLC and Deputy Chairman, LOLC Holdings PLC.

He added, “The Marina Development represents a unique opportunity to redefine the luxury tourism landscape in South Asia. Located at the crossroads of international maritime routes, Sri Lanka is ideally positioned to become a hub for luxury yachting. This development will not only elevate the country’s appeal as a premium travel destination but also symbolise the island’s resilience and ambition to rise as a global contender in the tourism and maritime industry.”

Spanning a total land area of 33,776 sqm, the Marina Development will feature state-of-the-art facilities, including sunset bars, seaside restaurants, retail outlets, and entertainment spaces, creating a vibrant and sophisticated environment for visitors. Designed to cater to a global clientele, the Marina will offer berthing space for up to 200 mid-to-large-sized vessels, filling a critical infrastructure gap in the region.

“With a total investment of USD 120 million, the Marina Development is slated for completion by 2027,” said Mr. Kapila Jayawardena, Group Managing Director/CEO LOLC Holdings PLC. “This project underscores Sri Lanka’s potential to lead in luxury tourism while stimulating significant economic activity and positioning Colombo as a hub for maritime excellence.”