Colombo Port City
Colombo Port City
COLOMBO, Sri Lanka, the newly reclaimed
land of 269 hectares in the heart of the Colombo Business District in Sri Lanka
has been declared a Special Economic Zone (SEZ) by the Sri Lanka Parliament,
paving. the way for establishing an International Business and Multi-Service
for South Asia called Port City Colombo. The Colombo Port City Economic
Commission Bill sets up a stable policy environment and a good governance framework.
The bill greatly improves the ease of doing business by facilitating a single
window, using the consultation process and special incentives around the world.
Port City Colombo, the multi-service
Special Economic Zone in Sri Lanka.
Branded as the 'Gateway to South Asia', the
project is a Public Private Partnership between the Government of Sri Lanka and
the project company CHEC Port City Colombo. Port City Colombo is located next
to the Port of Colombo, which is ranked as the 18th most connected Port in the
World, and is designed to achieve a good balance between business, residential
and retail.
The Colombo International Financial Center
Phase 1, the first vertical development, is scheduled to break ground in June
2021 and will include state-of-the-art infrastructure modern with a commitment
to International Green Building Standards. All registered entities can enjoy
100% foreign ownership and the opportunity to benefit from compliance with
trade regulations within the zone.
Geography
The financial port is to be built between
the southern tip of the Colombo South Port and the Fort Lighthouse. The total
sea area to be restored is 269 ha (660 acres).
The Port City
The Port City was said to be the brainchild
of former President Mahinda Rajapaksa, who was apparently inspired while
inspecting the landfill being built for the city of Colombo South. first
request.
The month of March 2011 was planned to
start the construction but due to many circumstances the work was stopped. In
mid-2012, the Sri Lanka Ports Authority (SLPA) announced that construction of
the Colombo Port City project would begin on 17 September 2014. The budget was
estimated at $15 billion.
The burial will be done by the China Harbor
Engineering Corporation, where the businessman worked. 125 ha (310 acres) of
the land was given to the government as well as 88 ha (220 acres) but the
property of the government was planned to be leased for 99 years to the Chinese
company. 20 ha (49 acres) were planned to be released to the Chinese company.
The construction of the Colombo Port City
project was launched on 17 September 2014 by former Sri Lankan President
Mahinda Rajapaksa and Chinese President Xi Jinping.
The city has been criticized for many
reasons. Many environmentalists say that the city has many environmental risks
and the negative impact of the project on the environment is far more than
wealth can offer. risks Sri Lanka may face from directly handing over land to
China, especially in a buffer zone, and concerns have also been expressed about
its implications for sovereignty of Sri Lanka.This work was also criticized for
the lack of clarity and defects such as the involvement of the SLPA which is
carrying out the burial work, it has no authority to do it because it is in
charge of handling the ports and ships.
The colombo international finance center
The city's construction was halted after
the fall of the Rajapaksa government due to issues related to Sri Lanka's
sovereignty and negative environmental impacts.
The Colombo International Financial Center
will be managed by an independent authority and will not be handed over to the
Colombo Municipal Council. A special legal basis that allows it to operate on
the area of commercial law, regarding contracts and commercial transactions
and its own Court of Justice Special Colombo Finance as the first court and the
submission of appeal to the Supreme Court of Sri Lanka. It will have its own
judicial centers.
The building was approved for construction
in December 2018. The city will use construction resources from the Colombo
Harbor Expansion Project, which is currently being built near the site of this
proposed port.
Construction
The commissioning of the project was done
in 2014 and a revised plan was commissioned in October 2019. The water
reclamation is expected to be completed in about 28 months. In 2017, it was
predicted that the city would be completed in 2041.
Land reclamation
The city center will require 269 hectares
of reclaimed land. 116 hectares owned by China
Communications Construction Company (CCCC),
itself owned by the China Harbor Engineering Company (CHEC), and the Government
of Sri Lanka have set aside another 91 hectares for public use.
In the question and answer session in July
2018, the Prime Minister said that the excavation of the land will be completed
within one year and construction should begin next year, and the government
will seek assistance in the legal establishment of the administrative unit. was
successfully completed in January 2019 according to the Ministry of Megapolis
and Western Development.
The project is about three months ahead of
its expected completion date of January 2019.
Basic infrastructure
The China Daily reported in April 2019 that
the hydrostructural construction will be completed in mid-2019, and the
construction of local facilities will be completed in July 2020.
The Road Development Authority has sent approval for the new road and construction work for the nine boardwalks has started in January 2019.
Basic assets
The China Daily reported in April 2019 that
the hydrostructural construction will be completed in mid-2019, and the
construction of local facilities will be completed in July 2020.
The Road Development Authority has sent
approval for the new road and construction work for the nine boardwalks has
started in January 2019.
Investments
In December 2020, the Sri Lankan company
LOLC Holdings signed an agreement with China Harbor Engineering for a mixed
development project, with an investment value of $1 billion. The project, which
includes residential, commercial and retail facilities, is scheduled to break
ground in mid-2021. This is the first major investment in Colombo Port City.
Things can do on Port City
Yachting
One of the first activities to open to the
public, the luxury cruise at the Colombo Port City Marina has quickly become a
destination for many people to spend the weekend with family and friends.
The Galle Face Green is highlighted behind
the new developments that create a sense of satisfaction and appreciation of
the city's progress and will certainly provide a different view of the busy
city. Join the company of your friends and family, and you've got yourself the
perfect weekend here in Colombo.
Operated by Sail Lanka, you have the opportunity
to choose from different packages, such as 3-hour, 5-hour, and 7-hour cruises.
Sail Lanka also gives you the freedom to customize your own cruise to suit the
purpose.
Golfing
Do you want to let your happy Gilmore heart
out? Well, the Colombo Golf Academy (CGA) has officially started operations in
the Colombo Port City. The golf course is just past the Colombo Port City
Marina, facing the Indian Ocean, making it one of the most unique places on the
island.
Having a club party is great if you're
going with a few friends! It doesn't matter if you're a beginner or a PGA pro,
it's all about giving you a unique experience while giving you a taste of the
men's game. .
Parting
Entertainment in the Port City is one of the new additions and is quickly gaining popularity with world-class DJs and musicians. Yes, this hasn't been available since it was released for entertainment a few months ago.
However, the recent NYE 2021 celebrations
proved to be a huge success, paving the way for more to come. Who knows, maybe
we'll see Coldplay play at the venue before they retire!
Leisure & Recreation
Although it has not been fully opened to
the public, we hope that some of the parks in the Colombo Port City will be
opened sometime in the middle of this year. These parks are thought to be
designed to bring a kind of tranquility in the midst of all the business in the
City of Colombo. In other words, it's a great place to escape the rat race of
the city during the evening hours.
Parks also act as a good place for physical
activity. The wide walking/jogging path and open spaces are perfect for solo
and group physical activities. So, lacing up a pair of shoes and burning
calories while admiring the Indian Ocean on one side and the hustle and bustle
of the city of Colombo is now a possibility.
Beach
Similarly, the Colombo Port City Beach is
also expected to open this year, which will also include many water sports.
From paddling to fishing, you have a huge menu to choose from.
Along with water sports comes a lot of
places for relaxation and recreation, suitable for everyone.
ATV track
The Colombo Dunes ATV trail consists of
three 2-kilometer trails on an area of approximately 05 acres in Port City.
What makes it unique is the experience of driving an ATV over the sand dunes
and trying a one-way beach ride on one of Sri Lanka's beaches.
To book the ATV track, you can visit
https://crateadventure.com and log in by registering. Choose the date and time
slot that interests you.
Of course, many elements have not been
revealed, but from what has already been opened to the public, the Colombo Port
City looks like a place of great things to come!
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