Beach Front Investment Srilanka

Beach Front Investment Srilanka

Long a strip of coastline in the capital of Sri Lanka, sand dredgers vigorously spray debris jets as they prepare the ground for one of the country’s most ambitious real estate ventures so far.

Port City Town, a 269-hectare “futuristic area” with a cost of USD 1.4 billion, will be a dazzling new mini-metropolis in Colombo, including financial and industrial districts, houses, a marina, and a Formula One runway.

The brainchild of a group of Chinese companies led by state-run China Harbor Engineering Company Ltd (CHEC), the project is yet another amazing example of how new towns, bridges and roads are emerging out of nothing in countries where China is pouring money to fulfill its economic vision of Belt and Road.

“Colombo Port City is a key project in South Asia under the Belt and Road Initiative and aligned well with the Western Megapolis development strategy in Sri Lanka,” Chairman Liu Qitao of China Communications Construction Company Limited, CHEC’s parent company, told Xinhua.

After the decades-long ethnic war on the island ended in 2009, China has dedicated itself to restore infrastructure in Sri Lanka. But with China’s economic and geopolitical future riding on the progress of its Belt and Road strategy, expected to link its land and sea trading routes with Africa , Europe and the rest of the world, capital is pouring thicker and faster through Sri Lanka and the rest of Asia.

China has invested USD 1.3 billion in the construction of Hambantota ‘s southern deep-sea port, a contract marred by fears that the Chinese military might use the facility.This is also constructing the 114.5 km extension of the Matara-Kataragama railway, and has funded part of the Mattala Rajapaksa International Airport development.

Carrie Law, CEO of Juwai.com, a Chinese property website, said big-ticket acquisitions like these “reassure Chinese buyers that Sri Lanka will continue to expand strongly.”

The two countries are strengthening their political ties. President Maithripala Sirisena, of Sri Lanka, promised last month to deepen ties with China. “It is my strong conviction that under your esteemed leadership our mutual efforts to further strengthen our relations in all respects will continue,” the Chinese Embassy quoted as telling President Sirisena.

Beach Front Investment Srilanka

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