Port City secures $ 600 m new investment through 71 strategic businesses in 1H2026

• Lease agreements worth Rs. 40.2 b signed for three flagship developments
• More than 10,000 direct jobs expected from approved businesses
• Govt. says reforms and streamlined approvals key drivers of investor interest

Government-led reforms have helped attract more than $ 600 million in new investment into Colombo Port City during the first half of 2026 through the approval of 71 Businesses of Strategic Importance (BSIs), according to the Finance, Planning and Economic Development Ministry.

In a statement, the Ministry said the approvals represent one of the most significant investment milestones since the establishment of the Colombo Port City Special Economic Zone (SEZ), reflecting growing investor confidence in Sri Lanka’s economic recovery and long-term growth prospects.

The investment momentum follows the enactment of the Colombo Port City Economic Commission (Amendment) Act, No. 1 of 2026, which introduced reforms aimed at strengthening governance, simplifying regulatory processes, and improving the ease of doing business within the SEZ.

Among the approved businesses are three major development projects by Marina Hotel Holdings Ltd., Prime Melwa Port City Ltd., and Home Lands Port City Ltd., which are expected to add a luxury marina-front hotel, residential developments, and a mixed-use project adjacent to Central Park.

“These flagship developments, including a luxury marina front hotel, residential developments, and a landmark mixed-use project adjacent to Central Park, reflect a significant commitment by investors, who have secured land within Colombo Port City through lease agreements valued at approximately Rs. 40.2 billion. The projects are expected to attract an additional forex revenue during its construction and development over the next five years,” the Ministry said.

The Ministry also highlighted the economic contribution expected from the broader group of approved businesses.

“In addition, the approved service-oriented and export focused businesses are expected to generate additional forex revenue, while creating more than 10,000 direct employment opportunities and many other indirect employment opportunities,” it said.

Businesses are granted BSI status based on their potential contribution to investment, employment generation, foreign exchange earnings, export growth, and international market connectivity. The approved entities operate across sectors including maritime and logistics services, information technology and digital services, regional headquarters operations, tourism and leisure, and real estate and urban development.

The Ministry noted that eligible businesses receive a package of fiscal and non-fiscal incentives designed to support investment and internationally traded services.

It also pointed to measures introduced by the Colombo Port City Economic Commission to streamline investor facilitation and accelerate project implementation.

“To make investing easier, the Colombo Port City Economic Commission operates a Single Window Investment Facilitation Mechanism, enabling investors to obtain approvals through a single point of contact rather than navigating multiple government agencies,” the Ministry said.

The Commission has also introduced an accelerated investment facilitation program under which investor registration as an Authorised Person can be completed within seven days, agreements can be executed digitally and visas for foreign employees can be approved within five working days, subject to due diligence requirements.

The Ministry said these measures are intended to enable investors to establish operations quickly and efficiently.

It also highlighted the role of master developer CHEC Port City Colombo Ltd., which has invested approximately $ 1.4 billion in land reclamation and infrastructure.

“The master developer, CHEC Port City Colombo Ltd., has already invested approximately $ 1.4 billion in land reclamation and infrastructure, creating a fully development-ready environment for investors. As a result, investors can immediately access serviced land parcels and benefit from a streamlined approval process for construction permits, planning approvals, and other regulatory clearances,” the Ministry said.

Looking ahead, the Ministry reiterated the project’s longer-term investment ambitions.

“Colombo Port City is expected to attract investments valued at approximately $ 15 billion across leasing land parcels and completing the development as per the Master Plan, making it one of the largest foreign direct investment initiatives in South Asia,” it said.

The Ministry added that the project is expected to generate substantial economic benefits through increased foreign investment, employment opportunities, export earnings, technology transfer and enhanced access to regional and global markets.