Jaffna’s tallest residential building project gets BOI nod

Tuesday, 18 August 2026 12:43 - - {{hitsCtrl.values.hits}}

Senior Economic Adviser to the President and BOI Chairman Duminda Hulangamuwa (right) with management of Tilko Blue Ocean Holdings

Tilko Blue Ocean signs agreement with BOI for Yarl Royal Palace

13 residential floors, 78 residences and six parking levels planned

Jaffna is set to get its tallest residential building with Tilko Blue Ocean Holdings Ltd., signing an agreement with the Board of Investment of Sri Lanka (BOI) for the development of the 78-unit Yarl Royal Palace.

The BOI said the project, located at No. 107, Kandy Road overlooking the historic Old Park, is envisioned to become the tallest residential landmark in Northern Sri Lanka and establish a new benchmark for high-rise residential development in the region.

The development will comprise six levels of car parking, 13 residential floors and 78 residences. The BOI statement did not disclose the investment value, construction timeline or expected completion date.

The BOI described Yarl Royal Palace as a private-sector investment in Jaffna and the wider Northern Province, with economic activity expected across construction, engineering, professional consultancy, building materials, logistics, financial services and property management.

It said the project also seeks to tap Jaffna’s links with the global Tamil diaspora, including communities in the UK, Canada, Australia, France, Switzerland and Germany, providing overseas families, professionals and investors an opportunity to participate in the city’s property market.

According to the BOI, Jaffna’s entrepreneurial community, professional and educational base, improving infrastructure, urban land and links with the diaspora provide a foundation for further private investment.

The BOI said the emergence of a development of this scale in Jaffna also signals potential for large-scale private investment beyond Sri Lanka’s traditional real estate markets.

Tilko Blue Ocean Holdings said the project reflected its long-term confidence in the economic potential of Northern Sri Lanka and its commitment to further investment in the region.