Comments /3617 Views / Tuesday, 26 February 2013 00:06
SilverNeedle Hospitality has partnered with the Abans Group, a family-controlled Sri Lankan conglomerate, to enter into a 99-year land lease with the Urban Development Authority (UDA) for a land parcel adjacent to Beira Lake in Colombo, Sri Lanka.
The joint venture between SilverNeedle Hospitality and the Abans Group will develop a mixed-use lifestyle centre, inclusive of a 200-room Next Hotel, a four-storey lifestyle mall and a 30-storey condominium tower. The total investment in the project is in excess of US$ 100 million.
SilverNeedle Hospitality’s development arm, SilverNeedle Hospitality Property, has been appointed development manager of the project.
“Our proven capabilities in the Asia Pacific region ensure we are well equipped to meet the demand for accommodation solutions from the growing influx of business travellers into Colombo. Through Next Hotels we are delivering a product designed for the business traveller by the business traveller,” said Iqbal Jumabhoy, MD and Group CEO of SilverNeedle Hospitality. “We will continue to increase our current portfolio in the Asia Pacific region by exploring and converting opportunities that fit our sustainable business model and growth strategy.”
At present, SilverNeedle Hospitality operates 67 properties in the Asia Pacific region under the Chifley, Australis, Country Comfort, and Sundowner brands along with a growing portfolio of independent boutique hotels under the ‘SilverNeedle Collection’ brand.
The world’s first Next Hotel is under development in Brisbane and is scheduled to be fully open in 2014.
30 April 2016
As always Tamil nationalism has overreached; acted unilaterally and overplayed its hand. As always this overestimation based on (congenitally?) misplaced arrogance undermines its Sinhala moderate counterparts and negotiating partners. This...
30 April 2016
Avurudu vacation revelations Court vacation always permits that little bit of extra time to pen something down and the occasion arose when former Dep. Governor of the Central Bank Dr. Wijewardene, Island Editor Shamindra Ferdinando and ...
30 April 2016
“Lord, what fools these mortals be...” Midsummer Night’s Dream. Puck, in the Shakespearean comedy Midsummer Night’s Dream, thought that we mortals are fools. Had he had the benefit o...
29 April 2016
THE WRITING IS ON THE WALLSTRÖM: Sri Lanka is looking increasingly like the prettiest girl on the beach in this region. Here, Sri Lankan Foreign Minister Mangala Samaraweera and his Swedish counterpart Margot Wallström parley about the i...
New Prisons Chief outlines plans to improve prisons despite challenges
Govt. launches ‘Open Government Partnership’ to promote good governance
World Bank raises 2016 oil price forecast, revises down agriculture price projections
Sri Lankans believe they are ahead on corruption in South Asia
EWIS empowers UoM Department of Computer Science and Engineering with R&D Centre
Global trade and finance trends now centre stage in minds of stakeholders and policymakers
CB Annual Report 2015 presents overview of Sri Lankan economy
A solid and practical move from rhetoric to ‘Action for Parity’