May 19, 2014 (LBO) – Macksons Properties (Pvt) Ltd, will build a 655 million rupee, 100-room serviced apartment complex in Sri Lanka’s capital Colombo, the state investment promotion agency said. Macksons Holdings has interests in consumer goods, automobiles and building materials including Multilac branded paints, the Board of Investment of Sri Lanka which approves and gives tax breaks for investment projects said.
An agreement had been signed between Deputy Chairman of Macksons Properties Milfer Makeen and BOI chief Lakshman Jayaweera.
The 100 luxury serviced apartments in the upmarket Colombo 03 district will provide individual rooms or 2 and 3 bedroom family suites.
It will cater to Sri Lanka’s growing tourist sector, the BOI said.
The 11-floor complex will have restaurants, a swimming pool, gymnasium, the convenience of room service and laundry service, high speed free WIFI facility and parking. The building contract has been given to Sanken Lanka (Pvt) Ltd.
Correction. In an earlier version of this story the value of the project was given as 412 million rupees. The BOI subsequently sent revised statement saying the value was 655 million rupees