The groundbreaking ceremony for the tallest twin tower building in Sri Lanka, Horton Square Mixed Development protect was held in Colombo 7 yesterday.
Set to open in 2020, Horton Square Mixed Development with 75 floors each with a swimming pool, sky garden and luxury villa joining the two towers will also see the first luxury St Regis Hotel of the esteemed brand of the Starwood Group opening up in the venue.
With history of over 100 years, the St. Regis brand is renowned for its tradition of innovation and commitment to impeccable service at the best addresses around the world.
World renowned partners including Zhongtian Group as the key construction partner, leading architects Archedium, and many global giants have already taken their stake in this unique US$ 250 million project.
The investors consist of strategic partners from countries including Singapore, China, Japan, USA and the UK is contributing to the project.
Minister of Megapolis and Urban Development Champika Ranawaka said that this project is a key part of their Megalopolis integrated plan. He said that similar ventures are on the pipe line and it was interesting to see key investors from Malaysia, Singapore, and other countries getting involved in this project. “We expect the residential needs in the Colombo business district region to grow significantly over the next few years,” he said.
“Sri Lanka is emerging as a ‘high value’ destination both for foreign investment boosting the economy and for tourists. Horton Square represents the full confidence that we and our partners have in the potential for Sri Lanka and I have no doubt that we will lead the way for international investors to follow suit,” said Paul Kelly, Chief Executive Officer of Horton Square Pte Ltd.
He also said that the support and guidance from Ministry of Megapolis and Urban Development was very encouraging.
The construction of the project is handled by Zhongtian Construction which is a subsidiary of private firm Zhongtian Development Holding Group Ltd.
The firm is an infrastructure development company which has undertaken projects in China and other Asian countries.
Zhongtian is also ranked among China’s 500 largest firms including state-run companies and known as the largest private sector infrastructure development company in China.
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