QVentures goes for US $ 50m project

By Sanjeevi Jayasuriya

A mixed development project with US $ 50 million investment by a Malaysian company QVentures was launched at the Bandaranaike International Airport premises in Katunayake.

The project which is on a BOI land will comprise a hotel and serviced apartment complex with shopping and entertainment facilities is expected to be completed within 36 months.

“Development in a country is one that a visitor experiences from the point of entry to the country.

The lasting expression created at the point of contact and the environment will be a boost to the country’s image. With the completion of the mixed development project, Sri Lanka could be proud of the atmosphere created surrounding the airport,” said Director, QVentures, Mirzan Mahathir.

"We hope to make Sri Lanka an attractive tourist destination and the project will make this possible.

We have taken a detailed oriental approach to ensure a positive perception and this will be created by the facilities offered through the project.

We believe that people will not hesitate to come to Sri Lanka any more," he said.

Foreign investors and the business community have shown a keen interest in investing in the country.

The stable political and economic environment and the business-friendly policies will spur and encourage more investments, he said.

The project is funded by QVentures Investments (Pvt) Ltd, a Malaysian based company in partnership with the Maju Group of Malaysia. It entails a 10-storey building connecting the Bandaranaike International Airport (BIA) through a bridge.

The apartments will be in one tower and shopping and other amenities such as exclusive restaurants, lounges and a 150-room five star hotel with a leisure pool in the other, to cater to passengers passing through the BIA. The entire area spans up to 64,235 square metres.