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LOLC Group Deputy Chairman Ishara Nanayakkara (right) and CMEC Deputy General Manager Qian Haojuan pop the champagne for a Celebratory toast during an event held recently in the Maldives

The LOLC Group, one of Sri Lanka’s top diversified conglomerates last week said it has employed innovative measures to position itself within the preferred locale for leisure installations in the Republic of Maldives in a landmark investment, through the leisure arm.

In view of most prime island locations already being leased for tourism purposes by the Government of Maldives, LOLC says it recently innovated a means of acquiring shallow lagoons and creating landmass.

The islands grossing approximately 75 acres, were created within 14 days, using the latest technology and machinery deployed by the Dutch dredging and marine engineering giant, Van Oord. The project envisages the development of 3 independent resorts, 120 rooms in the 5 star up-market space and 150 and 200 rooms respectively in the 4 star space. The development is expected to be completed by winter of 2018.

Last week the Deputy Chairman of LOLC Group, Ishara Nanayakkara accompanied by Senior Management personnel of the Group and their Joint Venture partner, China Machinery Engineering Corporation (CMEC), set foot on three such islands created within 2 neighbouring lagoons in the prestigious North Male Atoll, just 35 minutes away by speedboat from the international airport. The Sri Lanka High Commissioner to the Maldives, Major General (Rtd.) A. B. Thoradeniya and the Chinese Ambassador Extraordinary Plenipotentiary to the Maldives, Wang Fukung too graced the occasion.

Meanwhile, within Sri Lanka, the Group said it currently operates the 5 star Eden Resort & Spa with 158 rooms in Beruwela, Dickwella Resort & Spa with 76 rooms in Dickwella, The Paradise with 67 rooms in Dambulla and The Calm with 76 rooms in Passekudah. New developments in progress in Sri Lanka are; the 400-room 5 star Riverina Resort in Beruwela which is expected to be completed in early 2018 and the 172-room Sheraton Turtle Beach in Kosgoda which will open its doors in early 2017.