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5-star hotel to be built in Kandy under BOI agreement


3D image of the hotel project

Oct 09, 2019 (LBO) – The Board of Investment of Sri Lanka signed an agreement with Star Class Hotel (Pvt) Ltd., to set up 67 room 5-star hotel which will be located at Mavilamada Road, Kandy.

The Agreement was signed by Mangala Yapa, Chairman of the Board of Investment of Sri Lanka and Mohamed Nazar Mahamed Rizan, Managing Director of the Company.

This new project in Kandy will create 61 new employment opportunities and represents an investment of 5.2 million US dollars.

Mohamed Nazar Mohamed Rizan provided further information on his project and its importance to the tourism industry.

“This is a project for a 5-Star hotel in Kandy, which is my hometown and a very beautiful city. As tourism in Kandy has developed considerably, we will need more hotel rooms,” Rizan said.

“Our project is for a 67 room, a 5-star hotel which will take 1½ years to complete. However, we are looking at expanding the project by building at a latter stage an additional 27 rooms. The hotel will have 2 banquet halls, so it is ideal for weddings.”

Mohamed Nazar Mahamed Rizan, Managing Director of the Company formally receives the Certificate of Registration from Mangala Yapa, Chairman BOI
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