Delegation of investors led by UAE royalty visits Port City Colombo

A delegation of investors from the United Arab Emirates, led by Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, visited Port City Colombo on 14 January, during a special visit to Sri Lanka for the purpose.

Discussions were held between the members of the delegation, representatives from the Colombo Port City Economic Commission (Commission) and Port City Colombo (PCC) with a view to attracting foreign direct investments to the project.

The delegation was given a comprehensive overview of Port City Colombo’s development and plans for the future which the delegation commended, followed by a tour of PCC Marina. Port City Colombo is a large-scale development project covering an area of 269 hectares of reclaimed land. It aims to serve as a new economic hub for the country, offering a range of commercial and residential opportunities. The project is expected to bring significant economic benefits to Sri Lanka, including job creation and increased foreign investment. Expressing his views on the visit and the progress of discussions, CHEC Port City Colombo Ltd. Deputy Managing Director Thulci Aluwihare said, “We’re very pleased to have had the opportunity to host this delegation, led by His Royal Highness, and showcase the potential of the Port City Colombo development project. This visit is a clear indication of the growing interest in what we have to offer, and we look forward to welcoming more investors and partners in the future. We are also anticipating the PCC Duty-Free Shopping Complex to open on schedule by April 2023.”

The UAE delegation also included Luke Sellwood – Advisor to Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, and Ivan Shkarba – Partner and investor in efiscal, who also invests with Sheikh Mohammed in other business opportunities, Ivan Shkarba’s Personal Assistant Jekaterina Kamilov, efiscal Vice President International Expansion Damir Makhmutov, Ska Group Director Rahmy Morcos, Sheikh Mohammed’s Business Development Manager Mustafa Usman Aripandhra, and Eram Group – UAE and Saudi Arabia Chairman and Managing Director Dr. Siddeek Ahamed.

The UAE delegation was received, on behalf of the Commission, by Director Financial Services and Compliance Revan Wickramasuriya, Director Legal and Corporate Affairs Vindhya Weerasekera, Director Commercial and Operations Dimantha Kinigama, and Head of Branding and Communications Dhanya Gunawardana, on behalf of CHEC Port City Colombo Ltd., by Deputy Managing Director Thulci Aluwihare, Assistant Managing Director Eric Ou, Regional Head of Investment Promotion (Indochina Peninsula) Dr. Joe Lekplipol, Director Investment Promotion and Marketing Radika Obeyesekere, Executive Director -

Investment Promotion and Marketing Shalaka Wijeyaratne, MCIM (UK), MABE (UK), Manager – Strategy and Transaction Services Nisal Karunapala and Regional Manager Investment Promotion and Marketing (Middle East) Shane Amadoru.

Having added 2.69 square kilometres to Sri Lanka’s sovereign territory, Port City Colombo is Sri Lanka’s biggest FDI-funded development project. With infrastructure development slated for completion in Q3 of 2023, of the $ 1.4 billion committed by the project company, $ 1.2 billion has already been invested into Port City Colombo, and a further $ 1.5 billion is expected to be invested during the vertical development phase, which is expected to commence as soon as regulations are finalised. A $ 7-million Duty-Free Shopping Complex, the first of its kind in South Asia and expected to be a magnet for shopping and tourism, will also open its doors at Port City Colombo in April 2023.