BOI to develop skyscraper projects in colombo

Colombo: Colombo is a city that is continually evolving and in the next five years her skyline will be radically changed. In the current global context, the ranking of a metropolis is often decided by the extent to which it has succeeded in developing its infrastructure, and this includes factors such as world-class office space and housing.

In a modern urban environment much of this need is addressed by the construction of high-rise buildings to meet the growing demand for space by corporate and private customers.

Colombo will also be transformed from the current low-rise city it is today to a sprawling metropolis of multistoried buildings. Some of the buildings that fit the description of 'skyscrapers' have already been constructed. They have already had a major impact on the Sri Lankan economy and contributed towards a societal and cultural change for those residing in the city.

Currently much of the development has taken place in the commercial part of the City, know as the Fort, and its neighbourhoods, but it is by no means restricted to that area.

The pioneer high-rise building is the World Trade Center (WTC), a BOI project of the Shin Kwang Group of Singapore, which is currently the tallest building in Colombo and whose 155 metre tall twin towers dominate the City's skyline.

Skyscrapers such as the World Trade Centre have changed the lifestyles of many of the residents of the City of Colombo.

Spurred by this success, the Shin Kwang Group has embarked on another ambitious project, the Havelock City. This major BOI project is an investment of US$ 250 million. Unlike the WTC, the Havelock City is a massive mixed development project, where space is allocated to housing, offices and commercial activities.

In June 2008, the first two towers of the Havelock City project will be completed and will include stores, supermarkets and a hotel. Overseas Realty Ceylon PLC will manage the towers for 10 years after completion.

The investor, S.P. Tao, who has always been upbeat about Sri Lanka as a destination for investment, stated on a recent visit to Colombo ' the Havelock City Project will spearhead Sri Lanka's future role as the commercial crossroads of China, the Middle East and South Asia'.

While in the past property developers saw skyscrapers as essentially commercial property and symbols of corporate power, the trend nowadays is towards mixed development.

The Diamond Tower described as' Colombo's tallest building', represents an investment of US$ 150 million. Like other prestige projects promoted by the BOI, leading names in the industry are involved in this venture. Larsen and Touro Limited, India's largest engineering conglomerate, promoted the project. In addition Accor, an international leader in serviced apartments will be managing the tower.

The keyword to sum up the project will be 'luxury'. These will include 177 luxury residential apartments on 19 floors, 6 penthouses and 128 serviced apartments on 8 floors, while 9 floors will be used for vehicle parking.

The project is also located in a very scenic setting, at Darley Road and with a full view of the Beira Lake.

The construction of high-rise buildings has imparted a large quantum of know-how on the local construction industry. While in many instances the architects are foreign and the skills imported, there has been an increase in local inputs into the construction process.

This illustrated by the example of the 130 metre tall, 43 floor, Rs 10 billion Ceylinco Celestial Residencies and Hyatt Regency Hotel where a major project is handled entirely by Sri Lankan architects.'

The Hyatt Regency Colombo will be a 250-roomed extremely luxurious hotel and will benefit from the extensive expertise of the Hyatt chain. The facilities at the hotel will be meeting and fitness facilities, and a host of entertainments options for a discerning clientele.

While most of the high-rise buildings will be built within t