Little Colombo

From left: Dr. Fernando Im, Senior Country Economist for Sri Lanka and the Maldives, The World Bank, Hon. Eran Wickramaratne, State Minister, Ministry of Finance and Mass Media, Dr. W A Wijewardana, Former Deputy Governor of the Central Bank of Sri Lanka, Prof. Indralal de Silva, Former (Chair) of Demography, University of Colombo, Prof. Amala de Silva, Department of Economics, University of Colombo at the panel discussion on "Demographic Change in Sri Lanka" moderated by Dr. Ramani Gunatilaka, International Centre for Ethnic Studies.

A strategy to diversify its business interests will see Asian Hotels Corporation developing its Galle Road front property into Creascat City endash a self sufficient accommodation, entertainment, recreation and lifestyle complex.
The management is expected to invest an estimated Rs. 100 million over the span of the project, said Asian Hotels Director Viran Perera. rn

rnUp to US $ 3.5 million will be invested in refurbishing the new wing and setting up a spa and a roof terrace pool.rn

rnA further US $ 10 million will be needed to for refurbishing the old wing of the hotel, Perera added. rn

rnMarket demand will guide investment in the additional infrastructure, broken down into independent projects around the existing facilities, with each preceding project paying for the next. rn

rnldblquote Construction of new facilities are not tied to time frames, but will be added in response to market demand.