(COLOMBO, LANKAPUVATH) –Sri Lanka’s proposed Financial City better known as the Port City has now fully completed land reclamation, Ministry of Megapolis and Western Province Development said.
The new city will function as a special jurisdiction area with its own economic and commercial laws to facilitate operations of global multinational corporations.
The completed city will have reclaimed 269 hectares with 116 hectares being handed over to China Communications Construction Company (CCCC), which is the parent company of China Harbour Engineering Company (CHEC).
The remaining land, which will be owned by the Sri Lankan Government and will be divided with 62 hectares to be used to set up a financial city and 91 hectares to be used as public spaces.
Last year, CHEC Port City Colombo (Pvt) Ltd., presented the Development Control Regulations (DCR) for the Colombo Port City project.to the authorities, signaling for the marketing team to sell it as real estate.
The DCR was prepared by Surbana Jurong, a Singaporean urban design consultancy and Atkins, a UK-based engineering consultancy.