Sri Lanka Softlogic to build luxury resort on east coast

Jan 17, 2012 (LBO) – Sri Lanka’s Softlogic Holdings group plans to build a luxury resort on the island’s east coast with an investment of 200 million rupees in deal with Ominga International, a statement said. The company entered into a shareholders’ agreement with the shareholders of Ominga International (Private) Limited on January 13, 2012 for the construction of a luxury resort with 40 rooms and 20 luxury villas in Pasikudah.

Under the deal, Softlogic shall own 66.66 percent of Ominga for which Softlogic will invest 200 million rupees, the stock exchange filing said.

The investment is to be made in tranches based on the funding requirements of Ominga for the construction of the resort, it said. The resort is the latest announcement of a new hotel in the tourism industry which is experiencing a boom in arrivals and investment after the end of the island’s 30-year ethnic war in 2009.