Thursday Dec 12, 2024
Thursday Dec 12, 2024
Monday, 13 June 2011 00:00 - - {{hitsCtrl.values.hits}}
Dr. P. Mohamed Ali – a leading business luminary in the Sultanate of Oman has invested over US$ 60 million in the Kuchchaveli resort development project accordingly to the news revealed by the Sri Lanka Tourism Development Authority.
This initial investment was made for acquiring a 20 acre land at the beach front of the eastern coast on a 99 years lease incentive offered by the government of Sri Lanka under the foreign direct investment policy for tourism infrastructure development.
The Mfar Hotels Ltd. in Cochin, which is one of Dr. Mohamed Ali’s business ventures for building world standard hotels in India, will take over the construction and planning of the five star hotel resorts in Kuchchaveli with more than US$ 100 million to spare for the total project , expecting to be completed within the next six month’s time.
The reputation of Dr. Mohamed Ali and his business ventures dates back to 1970’s where he laid the foundation to Galfar Engineering and construction company which is today the single largest private sector employer in Oman engaged in wide spectrum of infrastructure projects , mainly in the areas of oil and Gas, roads and bridges, ports and waste water treatment.
Over the years Galfar has expanded its operations in other countries like Abu Dhabi, Qatar & India among which the latest addition would be Sri Lanka. Mfar Holdings is his second largest business venture which is a leader in property and infrastructure developer based in India since 1997.
Apart from being a leading business tycoon Dr. Mohamed Ali is also a very well recognised for this social responsibility projects as being a generous philanthropist and a committed educationalist. He is the Founder of P.M. Foundation, Charitable Trust for promoting education among backward communities, Chairman of Social Advancement Foundation of India, Chief Patron of Talikulam Vkas Trust for community development etc.
