Cabinet approves Colombo Port City strategic status of Prime Melwa and Home Lands

Thursday, 7 May 2026 06:39 - - {{hitsCtrl.values.hits}}

Two companies to build luxury residential towers with combined investment of $ 278 m

The Cabinet of Ministers on Monday approved the designation of Prime Melwa Port City Ltd., and Home Lands Port City Ltd., as primary Businesses of Strategic Importance under the provisions of the Colombo Port City Economic Commission Act, No. 11 of 2021, granting them access to incentives and facilitation measures outlined in the law.

The decision was made in line with the framework governing investments within Colombo Port City, administered by the Colombo Port City Economic Commission.

“Under the approved projects, Prime Melwa Port City Ltd., will develop an ultra-luxury residential tower with an investment of $ 127.6 million, while Home Lands Port City Ltd., will construct an eco-friendly luxury twin residential tower with an investment of $ 150 million within Colombo Port City,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said, announcing the decision at the weekly post-Cabinet meeting media briefing on Tuesday.

He said collectively, the two developments are expected to generate around 1,170 new employment opportunities during the construction and operational phases.

The proposal to this effect was approved by President Anura Kumara Dissanayake in his capacity as the Finance, Planning and Economic Development Minister.