In a significant milestone for Sri Lanka’s largest foreign direct investment project, Port City Colombo officially handed over office space at its new Business Centre to key anchor tenants during a ceremonial event held on May 30.
The handover marks the beginning of operational activity within the Colombo Port City Special Economic Zone (SEZ), a development expected to drive economic growth and solidify Sri Lanka’s status as a regional hub for international business and investment.
The ceremony was attended by prominent dignitaries including Mr. Chen Zhong, Deputy General Manager of China Communications Construction Group (CCCC); Mr. Harsha Amarasekera, Chairman of the Colombo Port City Economic Commission (CPCEC); Mr. Bai Yinzhan, Chairman of China Harbour Engineering Company (CHEC); Dr. Sulakshana Jayawardena, Director General of Corporate Affairs at the Ministry of Finance, Economic Stabilization and National Policies; and Mr. Xiong Hongfeng, Managing Director of CHEC Port City Colombo (Pvt) Ltd.
Constructed as a premier IT and business park, the Business Centre broke ground in March 2024 and comprises nine low-rise buildings featuring an IT hub and a commercial hub. Currently, 80 percent of the office space has been leased to "Authorised Persons"—entities approved by the CPCEC to operate within the SEZ.
The Business Centre represents a USD 5 million foreign direct investment by CHEC, a subsidiary of Fortune 500 company CCCC, which has been actively involved in Sri Lankan infrastructure projects since 1998. CHEC has already invested around USD 1.4 billion into Port City Colombo, making it the country's largest FDI and public-private partnership project to date.
Officials highlighted the strategic importance of the Business Centre as a catalyst for knowledge sharing, innovation, and high-quality employment. “This handover is not just a ceremonial act—it signifies the beginning of vibrant economic activity in the Port City SEZ,” noted Mr. Amarasekera.
Tenants at the Business Centre are expected to benefit from a range of incentives offered under the SEZ framework, including both fiscal and non-fiscal benefits, streamlined regulatory processes, and the ability to conduct transactions in foreign currencies with up to 100 percent foreign ownership.
Port City Colombo, located on reclaimed land adjacent to central Colombo, is a multi-billion dollar development designed to transform the nation's economic landscape. The SEZ model emulates successful global cities such as Dubai and Singapore, offering long-term tax incentives, no capital or exchange controls, and a highly investor-friendly environment.
As operations at the Business Centre commence, Port City Colombo continues its trajectory toward becoming a premier destination for business, finance, and leisure in South Asia.
For more information on investment opportunities and regulatory facilitation, visit www.portcitycolombo.lk and www.portcitycolombo.gov.lk.
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