Belluna to invest US$ 100 m in Lanka
Asia Capital PLC has entered into a partnership with Belluna Co. Ltd
of Japan to make several strategic investments in Sri Lanka’s booming
leisure and property sectors.
The agreement in this regard was signed by President, Belluna Co.,
Kiyoshi Yasuno and Group Chief Executive Officer, Asia Capital,Stefan
Abeyesinhe recently.
Belluna Co. Ltd will partner with Asia Capital in the development of
three properties in Sri Lanka, an iconic resort hotel in Galle, a
business hotel in Colombo 3 and a mixed development project in Colombo 2
and will in total invest over US$ 100 million on the three projects.
An Asia Capital official said that the company is working closely
with the Urban Development Authority, the Board of Investment and
relevant parties to launch construction work on the projects as soon as
possible and agreements with these bodies have already been signed.
Abeyesinhe said, “Strategic partnerships such as this are vital for
the development of the tourism and leisure sector which we have
identified as a sector having a high potential for development.
We warmly welcome high profile investors of the calibre of Belluna to
our shores and look forward to a healthy partnership with them in the
future.”
Yasuno said, “We strongly believe that this is great country to
invest in due to its rapid economic growth, public safety and national
character.
It is also a country that is friendly towards Japan. We felt Asia
Capital would be our ideal partner in these ventures as the team is made
up of talented and experienced people and the company has much prospects
for growth.” Set up in 1968, Belluna Co., Ltd. operates in the mail
order industry in seven segments: general mail order, specialty mail
order, retail store sales, solution, finance and property is
headquartered in Ageo, Japan. The driving force of Belluna’s success is
its portfolio approach, which achieves a balance between growth and
profitability.
The company possesses a comprehensive database and other management
resources that have been cultivated through its mail order business and
has expanded into related fields to realise steady and continuous
growth.
Asia Capital PLC is one of the largest investment banks in Sri Lanka
to be listed on the Colombo Stock Exchange. As a group, Asia Capital has
identified strong potential in the property, leisure and real estate
sectors and is focused on these avenues of growth. |