New Commercial City Projects

It is gratifying to see that the Colombo Commercial and Financial Hub, which was criticised and vilified, is in progress and is now a pride for the country. The new landmass added by this project has given new hope and is now the “New Colombo” of the 21st century.

 It is now a centre for global commerce, trade finance, and banking. The new government will expedite the stalled development of this unique city and fast track the introduction of legal and financial provisions to make it an international commercial and business hub. Investment Opportunities for foreign investors may include:

•      Four Multi-dimensional Commercial Cities - Develop the leading industrial cities of Colombo, Hambantota, Jaffna, and Trincomalee, and establish them to be connecting centres of the national and international network, as they consist of ports and airports.
•      The development of a Metro Rail system is planned to link the satellite cities in the Colombo district including Port City. The government intends to develop a Light Rail Transit (LRT) system, thereby enabling a mixed choice of transport, which would ease congestion in traffic and commuting.
•     The government is planning to introduce Radial and Circular road system while adding sky bridges, vertical parking lots, and flyovers in critical areas, thus improving the overall infrastructure and maximising the available space in the Colombo city limits.
•       The New Colombo beautification project would be undertaken by introducing beautiful urban forests, water gardens, and eco-friendly belts on either side of the highways, thereby eliminating the visible concrete facades.
•      The government will also ensure that New Colombo will have an efficient garbage management system, a sewage and liquid waste management system as well as a water purification system.
•     The government has selected the cities of Kandy, Anuradhapura, Gampaha, Ratnapura, Galle, Badulla, Mannar, Batticaloa, and Kurunegala to develop ‘imperial cities’ as indicated in the master plan, mainly because of their historical, social and economic value and their interconnectedness with the C zone.
•        Connecting Cities – The government will develop cities such as Puttalam, Negombo, Pothuvil, Dambulla, Matara, Nuwara Eliya, and Buttala, as connecting cities to the four multi-dimensional commercial national towns and cities.
•      The development of the four multi-dimensional commercial cities and the national cities will be accompanied by a program to develop cluster cities with information technology, knowledge, and tourism services that will also serve as conducive locations for urban living.
•      Expedite the stalled development of this port city and fast track the introduction of legal and financial provisions to make it an international commercial and business hub.

OSL Take: The Port City is now clear for fast-construction, and Sri Lanka can look forward to the benefits of its increased capacity for maritime operations shortly. OSL, as the pro-active FDI generator to the island, now calls upon Chinese investors to partner with OSL to bid for the Port City Related Projects open for investment through the PPP model. Have a consultation with the biz-friendly OSL Team today to learn more about the scope available and the way to move forward.

VBS/AT/16122019/Z_TB3