With a view to provide the middle and upper middle income groups with ‘affordable luxury at a prime location,” Access Engineering announced that it had invested Rs.2.3 billion in a joint venture with foreign investors to build a commercial and apartment complex overlooking Colombo port two kilometers from the city centre.
The total development cost of the venture is estimated at about Rs.10 billion. The joint venture partners have signed a deal with the Board of Investment for the development which will take place on a five acre land at No.250, Srimath Ramanathan Mawatha, Colombo 15.
The project, known as the ‘Harbour Village’, will have about 250,000 square feet of commercial and recreational areas and around 1,000 dwelling units, the statement further disclosed.
Access Engineering has partnered up with Hotel 10 (Private) Limited, Mustafa’s Pte Ltd. and China Harbour Engineering Company (Lanka) Limited for this venture.