Japan firm to build US$8.4mn boutique hotel in Sri Lanka’s Ahungalla
ECONOMYNEXT – Wakana (Pvt) Ltd, promoted by a Japan based investment group, will build an 8.4 million US dollar boutique hotel in Ahungalle, in Sri Lanka’s South West coast, the island’s investment promotion office said.
"This recognition happened in spite of the Easter Sunday attacks," the BOI said.
The hotel will be designed by architect Kengo Kuma using Japanese and Sri Lankan cultural elements, the Board of Invesment said.
The group already owns Coral Rock by Bansei (Bansei Royal Resorts Hikkaduwa PLC.) and Club Villa Bentota (Bentota Club Villa (Pvt) Ltd.).
An agreement was signed by directors Hiroyuki Ota, Director and T G Sunil Wickrama with BOI Director General Mangala Yapa.
The BOI gives tax concessions and also regulates foreign investments into Sri Lanka. (Colombo/July09/2019)