Sundara (Pvt) Ltd from the USA, inked an agreement with Board of Investment (BOI) to build “The Plantation Koggala” a luxury hotel project in Koggala on Friday.
This is the first foreign party agreement to be signed after the Easter Sunday blasts, stamping investor confidence towards Sri Lanka. Dale Rennie and Sabrina Van Cleef Ault signed the agreement to build ‘The Plantation Luxury Villas’ in Koggala, a luxury resort project valued at over USD 4.5 million (approximately Rs 792 million).
The project was designed by celebrated Sri Lankan architect Manjula Kalhara and will consist of 14 exclusive one and two-bedroom pool residences. The first phase of the construction is expected to be completed within a period of 18 months. The property developer Sundara (Pvt) Ltd also own and operate The Heritage Café and Bistro in Galle Fort. “We are also investing in another hotel project in Ahagnagama with an investment of US$ 1 million.” This will bring their total investment in Sri Lanka to over Rs. 1 billion.
