Sri Lanka mall planned by Singapore retailer

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

Dec 13, 2011 (LBO) – Singapore-based retailer Mohamed Mustafa will build a 115 million dollar mall and mixed development in Sri Lanka’s capital Colombo, the island’s ministry of economic development said. The mall will be built in the Colombo 15, postal area in Sir Ramanathan Mawatha, a ministry statement said.

An agreement was signed with Sri Lanka’s investment promotion agency, the Board of Investment in a ceremony attended by economic development minister Basil Rajapaksa.

The mixed development will have a department store, a 975 roomed hotel and 400 serviced apartments and a 1,000 vehicle car park.

Earlier reports said Mustapha had bought land from Sri Lanka’s The Finance Company for the project. .

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