GVR Lanka launches mixed development project

The BOI signed an agreement with GVR Lanka (Pvt) Ltd to set up the first mixed development real estate project in Kandy, close to the famous 'Elephant Bath' locale.

Minister of Investment Promotion, Lakshman Yapa Abeywardana presents the BOI certificate of Registration to the Mohan Chandramohan and Mahasen Samaravijaya. Ms Eranka de Silva looks on.

The project is planned by two Sri Lanka-born US entrepreneurs and will be managed by an experienced team of hospitality sector professionals.

Chairman, GVR Lanka (Pvt) Ltd, Mahasen Samaravijaya said, "We believe, with its location and luxurious amenities, the complex can be marketed as an 'Oasis of Tranquillity' providing an unparalleled lifestyle experience to its hotel guests and apartment owners".

Board member and major shareholder of Serendip Investment Group (Parent company of GVR Lanka), Mohan Chandramohan said, "We want to be an integral part of Sri Lanka's success and more importantly, to do something for our home town, Kandy. Mahasen Samaravijaya and I are from Kandy. We will insure that the project is conceived and completed in a socially responsible manner".

Minister of Investment Promotion, Lakshman Yapa Abeywardena presented the BOI Certificate of Registration to Mohan Chandramohan and Mahasen Samaravijaya.

The first phase of the project, a 15-story luxury residential apartment complex, will consist of 26 two-bedroom apartments, 52 three-bedroom apartments and four penthouses.

The second phase of the project will consist of a separate 21- story building of 144, four-star hotel rooms with some serviced apartments.

Amenities include, health spa, function halls, arcade and roof top terrace restaurants. The restaurants will have a 360 degree view of the mountain range, Mahaweli river and the city of Kandy.

Minister of Investment Promotion, Lakshman Yapa Abeywardena said, "Tourism has been given a very important role by the government since it is a sector where Sri Lanka has a strong competitive advantage. Since our objective is to achieve 2.5 million tourist arrivals by 2016, it is essential that tourism-related infrastructure such as hotel room capacity be significantly increased. Kandy with its scenic beauty and religious and cultural importance to the country will greatly benefit from this project".