SHANGRI-LA TO BEGIN CONSTRUCTION OF HOTELS IN SRI LANKA |
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Hong Kong-based Shangri-La Hotels and Resorts, is to start the construction work of the Colombo luxury hotel project and 300-room city resort in Hambantota in the third week of February 2012. Shangri-La had purchased six acres of land facing the Galle Face green promenade which is a prominent landmark in Colombo, Sri Lanka for US$ 125 million and the property in Hambantota for US$ 3.5 million. The development in Colombo is said to be a multi-use complex with high-end retail facilities, deluxe apartments and a 650-key luxury hotel to open in 2014. Shangri-La is investing US$ 130 million to develop the second property, which is a 161 rooms and 20 villas beachside resort in Hambantota, scheduled to be opened in 2013.  |
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