May 19, Colombo: Macksons Properties (Pvt) Ltd. has entered into an agreement with Sri Lanka's investment promotion agency to build a 100-room luxury apartment complex in the heart of capital Colombo.
The newest business venture of Macksons Holdings will invest Rs. 412 million in the proposed project which has been approved by the Board of Investment (BOI).
The Hotel/Serviced Apartment complex at Galle Road in the city's posh Colombo 3 will have all the facilities and services associated with modern star class hotels.
The 11-storied complex will have 100 rooms, a swimming pool, gymnasium, high speed free WI-FI facility, and ample parking.
The guests will have the convenience of room service and laundry service, and other services to provide orderly, luxurious living.
The building contract has been given to Sanken Lanka (Pvt) Ltd.
Deputy Chairman of Macksons Properties Milfer Makeen and BOI chief Lakshman Jayaweera signed the agreement on 13th May 2014 for the project.
Macksons Holdings, known for its Multilac and Macktiles brands, is a Sri Lankan business entity with diversified interests in manufacturing, trading, imports and exports in the paints, tiles, giftware, FMCG, automobiles, energy and leisure sectors.
Macksons Properties are also in the process of shortlisting international chains to add global strength to their venture, and the signing of the BOI agreement too further consolidates their vision towards being a presence in the Leisure sector in Sri Lanka, the company said.
Macksons Properties has already acquired several other lands in Colombo for the construction of more leisure/service apartments and a commercial development in the future.