As part of the expansion and development of Colombo, Sri Lanka’s commercial capital, the first investment of the proposed port city project is expected to commence in mid-2018. This investment is in keeping with the reclamation currently underway for the port city, which is expected to be finished by 2019. Addressing an annual general meeting of the Sri Lanka Retailers’ Association in October, Sagala Ratnayaka, the Law and Order Minister of the country commented that the initial investment would be USD one billion. He further added that the port city is expected to become South East Asia’s premier real estate area which would be home to the island’s financial centre as well. This rapid development is also mirrored in the number of new luxury apartments Sri Lanka has to offer with the likes of Capitol TwinPeaks being among the many new names to take its place amidst the cityscape.
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