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.
31 May 2016
In the backdrop of the financial crisis, when the dreaded flood hit Sri Lanka, my mind went back to the time of 2007/08 when the war was ranging at its highest with the prices of petroleum touching $ 150 and foreign reserves were at just one month...
31 May 2016
The country suffered from an unprecedented drought from January to April and the populace faced the highest temperatures for decades. The monsoon was late and the arrival of rains in early May brought relief, but in a couple of weeks the relief wa...
30 May 2016
A film director famous for indicting others Asoka Handagama, an award-winning film director of international repute, has been known for using his medium to serve contemporary society with indictments. His first movie, &lsquo...
30 May 2016
Container fleet growth slows to lowest level The lowest fleet growth on record will not stop the containership fleet breaking through the 20 million TEU mark this year, according to analysis from Bimco. The shipping association said the fleet wo...