The groundbreaking ceremony of the Marina Development at Port City Colombo was held on Friday, marking a milestone in Sri Lanka’s ambition to become a premier destination for luxury tourism in South Asia.
The chief guest was Minister of Foreign Affairs and Tourism Vijitha Herath. Ambassador of the People’s Republic of China, Qi Zhenhong and senior executives of Browns Investments and China Harbour Engineering Company (CHEC) were also present.
The development is a joint venture between Browns Investments PLC, the strategic investment arm of the LOLC Group, and China Harbour Engineering Company (CHEC).
Spanning a land area of 33,776 square metres, the Marina will provide state-of-the-art facilities, including sunset bars, seaside restaurants, retail outlets, and entertainment spaces, creating a sophisticated environment for visitors. The Marina will cater to a global clientele, offering berthing space for up to 200 mid-to-large-sized vessels, addressing a critical infrastructure gap in the region.
The Marina Development is expected to make a significant impact on Sri Lanka’s tourism sector, with plans to attract high-net-worth individuals and boost the island’s position on the global map.
The project is part of Sri Lanka’s wider vision to attract three million tourists and generate USD 5 billion in revenue by 2025. It is also expected to create thousands of direct and indirect employment opportunities, stimulate foreign investment, and strengthen the country’s maritime tourism sector.
Chairman of Browns Investments PLC, Ishara Nanayakkara said the Marina Development aligns with the company’s commitment to pioneering ventures that contribute to the nation’s economic growth.
With a total investment of USD 120 million, the Marina Development is expected to be completed by 2027.
Group Managing Director and CEO of LOLC Holdings PLC, Kapila Jayawardena said the project would stimulate significant economic activity, positioning Colombo as a hub for maritime excellence and luxury tourism.
Chairman of the Colombo Port City Economic Commission, Harsha Amarasekera said that the Marina would contribute substantially to Sri Lanka’s economic growth and strengthen its position as a premier destination for luxury yachting in South Asia.
