BOI deal signed for Fantasy Island at Waters Edge

Friday, 19 July 2019 00:00 - - {{hitsCtrl.values.hits}}

Melchers Group in South East Asia Managing Director Alexander Melchers formally receives the Certificate of Registration from BOI Chairman Mangala Yapa. CMC Engineering Export Chairman Michael Perera is also seen

Fantasy Island Ltd. has announced that the BOI agreement has been executed on 17 July and is confident to open the park to the public within one year.

Melchers Group in South-East Asia Managing Director and founding investor Alexander Melchers says: “We believe in the local and international tourism industry of Sri Lanka. I am very confident in the business outlook in Sri Lanka. We represent German, Singaporean, and Swiss investors who believe in the long term potential of Sri Lanka. We are very impressed with the support of the BOI in the process to set up the investment companies.”

Fantasy Island will become Colombo’s premier family entertainment centre located at Waters Edge in Battaramulla. Representing the elements air, sea, and land, the attraction park will feature a 40m Ferris wheel, an indoor snow experience, and a big waterplay-area including waterslides. With brand new equipment exclusively from European suppliers, the park will provide plenty of fun and educational activities while ensuring highest quality and safety standards. The Melchers Group, active in Sri Lanka for over 35 years, combines local expertise with international entertainment experience for development and operations. “In phase 1, the investment of more than $ 4 million will bring inclusive attractions for the entire family which are truly unique to Sri Lanka. Fantasy Island will create over 60 employment and career development opportunities for the community,” explains Michael Perera, Chairman of CMC Engineering Export, the Sri Lankan office of the Melchers Group.“Sri Lanka has made great progress to build hotels and infrastructure. Now, Fantasy Island is the beginning of the next development phase of the tourism industry. We will provide a purpose-built, state-of-the-art family entertainment attraction to cater for international and local tourists and residents,” Melchers adds.

The project developer and operator expects to do ground breaking within two to three months and the total development time is expected to be around 12 months.