Dec 20, Colombo: Sri Lanka has chosen U.S. based Skidmore, Owings & Merrill LLP (SOM), one of the largest global architecture firms, to construct the Colombo International Financial City Building Complex in Colombo Port City.
Sri Lanka's China-funded US$ 1.4 billion real estate development, Port City project has now completed 50 percent of the land reclamation out of the proposed 269 hectares of land and the construction of the International Financial City Building Complex is slated to commence in the second half of 2018.
The necessary infrastructure development plans have been prepared for the project and the Environmental Impact Assessment is now open to public comments.
An international competition was held to select the design plan for the proposed building complex and accordingly, U.S. based Skidmore Owings & Merrill (SOM) has been assigned the task.
The proposed investment for the project is US$ 1 billion.
It was decided to sign a Memorandum of Understanding (MoU) between China Harbour Engineering Corporation, Ministry of Megapolis and Western Development, and Colombo Port City Private Company for enabling the investment amount to be obtained as a foreign direct investment.
The cabinet of ministers has approved the proposal put forward by the Minister of Megapolis and Western Development Patali Champika Ranawaka to sign the MoU.