BOI signs deal with Japanese company to set up Boutique Hotel with USD 8.4Mn investment


July 10, 2019 (LBO) – Sri Lanka’s Board of Investment recently signed a new investment agreement with Wakana JPN (Pvt) ltd. to construct and operate a 21-roomed new boutique hotel in Ahungalla, with an investment of 8.4 million US dollars.

The Agreement was signed on behalf of the BOI by Chairman Mangala Yapa and on behalf of the company by Hiroyuki Ota, Director and T. G. Sunil Wickrama, Director.

The new hotel to be constructed is to serve the Sri Lankan hospitality industry, but with a Japanese style designed by the renowned architect Kengo Kuma.

Every aspect of the new boutique hotel from the design of the building to the furniture, internal decor, cuisine, etc. are to be optimized according to the traditions of both Sri Lanka and Japan.

The group presently owns and operates two more hotels: Coral Rock by Bansei (Bansei Royal Resorts Hikkaduwa PLC) and Club Villa Bentota (Bentota Club Villa (Pvt) Ltd).

In addition to these investments, the group has a long history of having invested in Sri Lankan government financial securities and instruments.

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