Sri Lanka’s Port City Colombo is experiencing a surge in foreign investment, with several major real estate and infrastructure projects recently designated as “Primary Businesses of Strategic Importance” a clear sign of growing global confidence in the special economic zone (SEZ).
It has has gained a fresh boost as a Singapore-led consortium announced a major investment in a new 34-storey commercial tower, marking one of the most significant international commitments to the project this year..
A consortium headed by Canary Wharf Holdings Pte Ltd has signed an agreement with CHEC Port City Colombo (Pvt) Ltd to develop the Colombo Gateway Tower One
Among the key developments announced this year are four landmark projects that together represent over US$ 1 billion in foreign direct investment (FDI). Daily Mirror+2Ceylon Today+2
IFC Colombo 1 (Pvt) Ltd A subsidiary of CHEC Port City Colombo (owned by China Harbour Engineering Company), this mixed-use development on a 12,561 m² plot is backed by an investment of US$ 142.7 million.
Ceylon Real Estate Holdings (Pvt) Ltd Focused on residential and commercial construction, this group is putting in US$ 320 million for their projects inside the Port City. Ceylon Today
Clothespin Management & Development (Pvt) Ltd Behind the ambitious “Clothespin Towers” twin-tower plan, combining ultra-luxury residences, a seven-star hotel, high-end retail, and art facilities. Their commitment amounts to about US$ 540.1 million, including land and construction.
ICC Port City (Pvt) Ltd A high-end residential proposal featuring two luxury apartment towers and villas, investing US$ 66 million, alongside LKR 13.8 billion in development.
Building Momentum: Developments Already Underway
Beyond the newly designated flagship ventures, several other projects in Port City Colombo are progressing rapidly, underscoring the SEZ’s momentum.
Luxury Marina Development: A high-profile waterfront scheme that broke ground in January 2025. Jointly developed by Browns Investments PLC (LOLC Group) and CHEC, this project spans 33,776 m² and has attracted US$ 120 million in investment.
It will host restaurants, retail, entertainment spaces, and a marina capable of berthing up to 200–250 yachts, betting on Sri Lanka’s potential as a regional yachting hub.
Business Centre / IT Hub: Operational commercial activity began in June 2025, following the handover of nine low-rise buildings including an IT hub and office cluster.
This centre, backed by a US$ 5 million FDI injection from CHEC, has already leased about 80% of its capacity to “Authorised Persons” approved by the Port City Economic Commission.
According to the Port City Economic Commission, further long-term investment pipelines include plans for an international university, hospital, and school within the SEZ.
Economic Impact & Strategic Significance
These developments come at a critical juncture for Sri Lanka. The estimated full potential of Port City Colombo is immense: when completed, the 269-hectare reclaimed area is projected to house up to US$ 15–20 billion in total FDI over time.
Already, the US$ 1.4 billion initial investment by China Harbour Engineering Company (CHEC) makes this SEZ one of Sri Lanka’s largest foreign-led development partnerships.
Port City has also earned recognition: in October 2025, it was named the Asia-Pacific’s Best Knowledge Zone by fDi Intelligence, highlighting its emerging role in innovation, technology, and free-zone services.
Leave your comments
Login to post a comment
Post comment as a guest