Belluna Co. Ltd, Japan and Asia Capital will jointly invest US$ 54 million (over Sri Lankan Rupees 8.2 billion), for four-star hotel project on Marine Drive, opposite the Colpetty railway station.
“Belluna Co.’s off-shore expansion focuses strongly on emerging markets and we are pleased to be a part of Sri Lanka’s development drive’’, Belluna Co. Ltd,Managing Director Hiroshi Yasuno said.
“Our partnership with Asia Capital PLC at present encompasses five different projects.
With Sri Lanka’s tourism and real estate sectors growing exponentially, we foresee many more such high value investments in the years ahead”.
Asia Capital, Stefan Abeyesinhe Group Chief Executive Officer and Director said they are pleased to once again collaborate with Belluna Co. of Japan who holds decades of experience in real estate and hospitality.
“This project further cements the strong bond that our Companies have in creating local and foreign joint venture projects in Sri Lanka”.
In addition to this 300 room hotel, Belluna Co. Ltd, Japan and Asia Capital PLC have thus far collaborated on a series of luxury development projects in Sri Lanka and beyond.
These projects encompass a 50 villa ultra-luxurious resort in Galle, for which the foundation stone was laid in October 2016; the ‘447 Luna Tower’ project - a 190 unit exclusive apartment complex being built in the heart of the city at Union Place and a further multi-development project in Colombo which is in the planning stages.
Beyond the shores of Sri Lanka, Belluna Co. and Asia Capital are currently in partnership with the leading global hospitality company, Marriot International, Inc. and will open the ‘The Westin Maldives Miriandhoo Resort’, a 70-key luxury property focusing on wellness tourism in the near future. This collection of projects spells out the long term vision of the partnership between Belluna Co. Ltd, Japan and Asia Capital PLC.
Belluna Co. Ltd, Japan is listed on the Tokyo Stock Exchange (TSE), First Section, with a market capitalization of approximately USD 800 million.
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