Hambantota next ‘hot’ investment spot

Both local and foreign investors have the ‘hots’ for Hambantota and are scooting sites for mega leisure, manufacturing and other such projects, according to government sources.
“Dubai-based hotel chain Indigo has expressed interest in a 100-acre land in Hambantota for a mega hotel project, following the deal for a similar project by the Hong Kong based Shangri-La Group in Hambantota,” a source told the Business Times. Shangri-La estimates its luxury hotel is worth over US$ 100 million and this will be their second such project after they decided to build an up market property at Colombo’s army headquarters in a deal that was sealed last month.
The source said that Indigo is scouting land at the moment in Hambantota and interested in beachfront properties. “No sooner the land is finalised they plan to send the project proposal,” he added. He said that some multinationals are also mulling large manufacturing plants in Hambantota. “These are pertaining to diverse industries and will be large scale projects,” he added.
He also said that there are many Chinese hoteliers interested in essentially budget hotels to be put up in Hambantota as well as Colombo. “They see Hambantota as a busy hub when all the proposed projects materialize and want to be ready for the boom,” he added. He said that many Indian chains such as the Taj Group, Chennai-based Asiana Hotels Pvt Ltd and the budget hotels group, the Duet Hotels are interested in some lands down D.R. Wijewardena Mawatha at Colombo 10. The Pan Pacific Hotels Group, which is Singapore-based and the European Accor Hotels, operating in 90 countries have also initiated plans of ‘ideally’ joint venture partnerships with local hotels.
The Sunday Times - By Duruthu Edirimuni Chandrasekera