Several large projects are being developed in Sri Lanka as international investors come calling.
A US$350 million (Dh1.28 billion) city-within-a-city, with more than 1,000 apartments, a hotel and a large shopping mall on a 6.8-hectare site in Colombo. Described as a "flawless amalgamation of contemporary living and entertainment", the project is a joint venture between the Bank of Ceylon and Overseas Realty, backed by Singapore's Shing Kwan Group.
The hotel group is moving into the market with two luxury projects - a 500-room hotel in Colombo, scheduled to open in 2014, and a 300-room hotel to open in 2013 on 40 hectares in Hambantota, on the southern coast.
This is the largest tourism development in the country. Located 150km north of Colombo, the project calls for 5,000 hotel rooms on two scenic bays and 14 islands designated for development. The area borders a marine reserve and natural estuaries.
Plans for this stretch of eastern coastline, another area designated for tourism development, were put on hold for years because of the civil war. Now foreign investors are expected to build 13 hotels.
Galle Face Green Island
Plans are in the early stages for a 200-hectare port city on reclaimed land off the coast of Colombo. A Chinese group is reported to be set to spend $700m to build the project, which will include port facilities, marinas, tourism facilities, hotels and office towers. The island will be connected to the mainland bymonorail and bridge.