Home Market Lotus Tower to be made Sentosa like entertainment centre

Lotus Tower to be made Sentosa like entertainment centre

  • 19 Nov 2022
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An investment agreement for for one billion us dollars development at the Lotus Tower, Colombo was signed on Friday between the Lotus Tower Management Company and Kreate design Private Limited of Singapore.



The project includes a casino, conference and international shopping centres, water sports as well as several other entertainment options, Kreate Design Singapore Business Development Director, Cintia Chan said.



She was reported as saying that already over Rs. 200 million has been paid to reserve nearly 45,000 square feet in several floors of the tower and the first USD 200 million of their investment will be made in the next three months.



She also has said that they will promote Colombo Lotus Tower as an entertainment hub similar to Sentosa Island in Singapore and with this initiative the area surrounding the Lotus Tower is set to become a centre for investment, trade and tourism related activities.



Participating in the launch event State Minister for Tourism Diana Gamage said that this will be one of the biggest foreign investments in Sri Lanka.



She expressed hope that Sri Lanka will be able to earn an amount far exceeding this investment by way of revenue once the project is complete.



If everything goes well this landmark investment will be a good first step towards finalizing the much delayed free trade agreement between Sri Lanka and Singapore.



  

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