Sri Lanka’s largest private sector investment in luxury tourism, will open its doors today, marking the official launch of South Asia’s first fully integrated resort.
The project is expected to elevate Colombo’s standing as a regional destination for leisure, entertainment and high-end retail.
Backed by John Keells Holdings (JKH), the US $ 1.2 billion project will see Bollywood superstar Hrithik Roshan at its opening.
“We look forward to the operationalisation of all elements, including a top-tier international standard casino, the ultra-luxury Nuwa hotel and the premium lifestyle focussed shopping mall, which marks the realisation of South Asia’s first fully integrated luxury resort,” JKH Chairman Krishan Balendra said in a statement issued with the group’s latest interim results this week.
At the heart of the development is a 180,000 square foot casino, fitted out by Hong Kong-listed Melco Resorts and Entertainment, which has invested approximately US $ 125 million into the facility. A wholly-owned subsidiary of Melco has been granted a 20-year licence by the Sri Lankan government to operate the casino, housed within the integrated resort and leased from JKH’s Waterfront Properties.
The resort’s 113-key hotel, occupying the top five floors of the property, will be managed under Melco’s ultra-high-end Nuwa brand, which also operates in Macau and the Philippines.
Positioned as a transformative development, JKH expects the City of Dreams to be a major catalyst for Sri Lanka’s tourism revival, job creation and foreign exchange inflows.
“The group is confident that the culmination and convergence of all elements in the operationalising of City of Dreams Sri Lanka will unlock its full potential as a transformative development in South Asia,” Balendra noted.