BOI signs agreement with foreign investor for USD 4.5mn luxury resort “Plantation Koggala”

Plantation-Koggala

May 31, 2019 (LBO) – Sri Lanka’s Board of Investment has signed an agreement with Sundara (Pvt) Ltd on a luxury resort project valued at over USD 4.5 million (approximately LKR 792 mn).

The project known as The Plantation Luxury Villas in Koggala is considered a strong vote of confidence in Sri Lanka’s tourism sector by a foreign investor and developer known for internationally renowned luxury resort projects.

The Plantation Luxury Villas will be built within the lush tropical interiors of Sri Lanka’s southern coast, in a sleepy town best known for producing the country’s most prolific author in Martin Wickremasinghe.

The first phase of The Plantation’s construction is expected to be completed within a period of 18 months.

The property developer Sundara (Pvt) Ltd is the name behind The Heritage Café and Bistro at the UNESCO World Heritage site Galle Fort.

With this investment, founders Dale Rennie and Sabrina Van Cleef Ault are complementing a portfolio of successful developments around the world.

Dale, following a 26-year career in the entertainment industry, has the award-winning ultra-luxury cliff front property Villa Anugrah in Bali, Indonesia to his name while his wife and business-partner Sabrina brings an illustrious 15 years of experience in entertainment and F&B.

“Tourism has been thriving for the last decade- there is no other way to describe it,” says BOI Chairman Mangala Yapa.

“The sector is certainly strong enough to bounce back from setbacks, and we are very pleased to have the confidence of two seasoned investors and developers like Dale and Sabrina. They have our full support- Sri Lanka remains as ready and open to investment as ever.”