Under the guidance of the State Tourism Ministry, Singapore-based investment, renovation and interior design company Kreate Design Ltd. on Friday signed a $ 1 billion investment agreement with the Colombo Lotus Tower Management Company Ltd., making the largest investment to Sri Lanka since the COVID pandemic.
“This investment agreement includes development of water sports and an entertainment zone, one of the best to be developed at world class standard at the Lotus Tower in Colombo,” said Kreate Design of Singapore Business Development Director Cyntia Chan.
“Measuring up to 356 metres in height, the Lotus Tower, considered the tallest self-supported structure in South Asia and the tallest skyscraper in Sri Lanka, officially commenced operations on 15 September 2022 as it was declared open to the public,” said Colombo Lotus Tower Management Company CEO Major General Prasad Samarasinghe
“This will enable Colombo Lotus Tower as a hub to develop trade, investment and tourism activities between Singapore and Sri Lanka,” said State Minister of Tourism.
“We are planning for further investments at D.R. Wijewardene Mawatha and surrounding areas of Colombo Lotus Tower, especially to develop the night economy which are well underway through State Ministry for Tourism,” said Coordinating Secretary.
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