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Rs 1B building complex at Port City Cabinet approves MoU with Chinese companies

By Rathindra Kuruwita

The Cabinet of Ministers approved a proposal to allow the Ministry of Megapolis to enter into a non-binding Memorandum of Understanding with the China Harbour Engineering Company (CHEC) and the CHEC Port City Colombo Private Limited to ensure a Foreign Direct Investment of US$ one billion to construct the building complex at the Port City.

Around 50 per cent of the reclamation activities of the Port City are complete and there is a need to commence the construction of a building complex necessary to establish the Colombo International Financial City (CIFC), which is estimated at US$ one billion. "The complex will integrate lifestyle elements within the Colombo Port City to attract new businesses, entrepreneurs and professionals and will include an office tower, residential towers and a retail complex that will be integrated with the marina and public parks," the Cabinet memo read.

The building complex would be located on a land area of 6.8 hectares and USD 400 is needed during phase one of the construction process, which is expected to begin in late 2018.


"An Environmental Impact Assessment (EIA) report, which covers the Provision of Infrastructure Landscaping and Development on the reclaimed land, was submitted to the Department of Coast Conservation and Coastal Resource Management which was opened to public comments on
1 November 2017," the memo adds.

The decision on the EIA will be available by March 2018, after which the construction of the building complex can begin. Meanwhile, a panel comprising local and international Judges have chosen the design forwarded by the Skid More Owings and Merrill of the United States of America to develop the buildings.

http://www.ceylontoday.lk/print20170401CT20170630.php?id=36731
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Global architecture firm SOM to construct International Financial City Building Complex in Sri Lanka's Colombo Port City
Dec 20, 2017

Sri Lanka has chosen U.S. based Skidmore, Owings & Merrill LLP (SOM), one of the largest global architecture firms, to construct the Colombo International Financial City Building Complex in Colombo Port City.

Sri Lanka's China-funded US$ 1.4 billion real estate development, Port City project has now completed 50 percent of the land reclamation out of the proposed 269 hectares of land and the construction of the International Financial City Building Complex is slated to commence in the second half of 2018.

The necessary infrastructure development plans have been prepared for the project and the Environmental Impact Assessment is now open to public comments.

An international competition was held to select the design plan for the proposed building complex and accordingly, U.S. based Skidmore Owings & Merrill (SOM) has been assigned the task.

The proposed investment for the project is US$ 1 billion.

It was decided to sign a Memorandum of Understanding (MoU) between China Harbour Engineering Corporation, Ministry of Megapolis and Western Development, and Colombo Port City Private Company for enabling the investment amount to be obtained as a foreign direct investment.

The cabinet of ministers has approved the proposal put forward by the Minister of Megapolis and Western Development Patali Champika Ranawaka to sign the MoU.

http://www.colombopage.com/archive_17B/Dec20_1513782180CH.php

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Construction of three towers at Colombo Port City to begin soon

January 4, 2018

The construction of three towers with 60 storeys will begin at the Colombo Port City premises this year on a foreign investment of US$ 1,000 million, the project team told Prime Minister Ranil Wickremesinghe yesterday.

During an inspection tour at the Port City project site, he was also informed that the Environment Impact Assessment is to be carried out in May. Western Development and Megapolis Minister Patali Champika Ranawaka accompanied the PM and Finance State Minister Eran Wickramaratne and Policy Planning and Economic Affairs Deputy Minister Dr Harsha de Silva also joined in.

They also informed the Premier that a light rail connecting Fort and Kollupitiya has also being planned.

source: http://dailynews.lk/2018/01/04/busi...ion-three-towers-colombo-port-city-begin-soon

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Port City CBD (Central Business District) where 60 floor towers will be constructed.


http://www.dailymirror.lk/101147/port-city-s-public-area-gets-wider-under-eia-plan

SOM mater plan design for the Financial District and The Marina districts of Port City where the 60 floor towers will be located.
more on SOM at http://www.designbuild-network.com/projects/port-city-colombo-master-plan-colombo/



View of Financial district from Marina


Height Restriction in Port City



Website: http://www.portcitycolombo.lk/
Official Facebook Link: https://www.facebook.com/PortCityLK/
Twitter: https://twitter.com/PortCityColombo
 

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China Harbour to break ground billion dollar towers in Sri Lanka in June: Minister


ECONOMYNEXT - China Harbour Engineering Company (CHEC) expects to break ground on a billion US dollar 60-floor triple tower project at the Colombo Port City in June 2018, Megapolis Minister Champika Ranawaka said.

The first 20 acres of reclaimed land in the 269 hectare Colombo Port City will be leased to CHEC on a 99-year lease by March, he said.

Under current law, the reclaimed land will be vested in the President of Sri Lanka who will in turn it over to the Urban Development Authority. The UDA will in turn lease it to China Harbour.

China Harbnour will being construction of the first three 60-floor towers by June, Minister Ranwaka said.

Up to 46 percent of the foreign direct investments in 2017 had come from projects related to the Megapolis and Western Development Ministry, he said. (Colombo/Jan25/2018)

http://www.economynext.com/China_Ha..._in_Sri_Lanka_in_June__Minister-3-9672-4.html
 

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Jan 26, 2018 (LBO) – Sri Lanka government has signed two Memorandums of Understanding with China Harbour Engineering Company (CHEC) to facilitate investment on Colombo International Finance City (CIFC) to construct a building complex and an underground marine drive road tunnel, a Minister said.

“CHEC want to kick start investment and the project company has indicated their willingness to invest a further one billion US dollars in the construction of the first building complex in the new land,” Minister of Megapolis and Western Region Development told reporters in Colombo, Thursday.

“CHEC will be leased the first 20 acres on a 99-year lease by March and we expect to break ground on this project in June 2018.”

The first building complex is expected to house the facilities required to make the new city into the Colombo International Finance City.

The building complex will consist of three towers in phase one with space for financial services, space for highest quality offices and residences in buildings with an approximate height of about 45 floors (180 meters tall).

These towers will sit on a podium which will house elegant shopping malls with cafes, restaurants ,coffee shops ,consumer facilities and entertainment spaces.

The 1.4 billion US dollar Chinese Port City will be constructed between the Southern edge of the new Colombo South Port and the Fort Lighthouse.

The total area of sea to be reclaimed is 269 hectares.

The underground tunnel, while providing north-south link through one of the busiest traffic areas of the city, will also provide an underground road connection to the road network of the Colombo Port city.

Further the roof of the tunnel being at the level of Galle Face Green towards the sea will make the width of the national public space of Galle Face Green also being expanded by 30 meters, the Minister added.

source; http://www.lankabusinessonline.com/...-project-with-billion-dollar-towers-minister/
This news report says the towers are 45 stories? :hmm:

Same thing reported by Chinese news agency too http://www.xinhuanet.com/english/2018-01/25/c_136924823.htm

???
 

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Maximum Building Height in Port City

Is maximum building height only 290m in port city? :eek:hno:
It means no super tall buildings in port city.
:cry:
 

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I'd understand it if India was being pushed out of meaningful investment projects in Lanka by the Chinese, but it's not even that. They have no solutions to offer, and scream bloody murder at anyone that does. This is like a guy that wants to date a girl but never asks her out, then gets furious when someone else does.
not only dat, India has fear, thy will lost 20-50 billion investments because of 1 billion investment in Sri Lanka.
 

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Flickr Daniel Brennwald


Flickr Daniel Brennwald


Flickr Daniel Brennwald


Flickr Daniel Brennwald
 

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I'd understand it if India was being pushed out of meaningful investment projects in Lanka by the Chinese, but it's not even that. They have no solutions to offer, and scream bloody murder at anyone that does. This is like a guy that wants to date a girl but never asks her out, then gets furious when someone else does.

Not really,I'm from Malaysia and the sentiment is similar regarding China projects in Sri Lanka as being dobious.If Malaysian Chinese agree with India,then why the paranoia?
 

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Anyone know the area of floor space (residential and commercial) that is being created by the Port City?
 
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