Shangri-La Asia yesterday revealed plans to develop two brand new properties in Sri Lanka, its first in the country. The hotel giant’s first property, a 300-key city resort on approximately 100 acres of land, will open in Hambantota on the state’s southern coast sometime in 2013. Shangri-La has also secured the purchase of six acres of government land opposite the Galle Face, a famous tourist attraction in Colombo. The development will be a multi-use complex with high-end retail facilities, deluxe apartments and a 500-key luxury hotel to open in early 2014.
Greg Dogan, President and CEO of Shangri-La International Hotel Management Ltd. said that Sri Lanka will play a key role in the company’s expansion across the Indian sub continent and that Shangri-La can also play a hand in rehabilitating the Sri Lankan economy and building the nation’s reputation as an international tourist destination.
Commenting on the move, the Secretary to the Treasury said; “It marks the beginning of a new journey of a high level of Foreign Direct Investment that Sri Lanka needs in order to accelerate an economic growth in excess of eight percent and position Sri Lanka as an emerging middle income country in Asia.”
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