GVR Lanka mixed development project from Kandy

The BOI signed an investment agreement with GVR Lanka Pvt Ltd to set up the first ever Mixed Development Real Estate Project in Kandy, close to the famous "Elephant Bath" locale.

The project is planned by two Sri Lanka born US entrepreneurs and will be managed by an experienced team of hospitality sector professionals. Mahasen Samaravijaya, Chairman of GVR Lanka (Pvt) Ltd., stated that "We believe, with its location and luxurious amenities, the complex can be marketed as an "Oasis of Tranquility" providing an unparallel lifestyle experience to its hotel guests and apartment owners".

LakshmanYapaAbeywardena, Minister of Investment Promotion formally presented the BOI Certificate of Registration to Mohan Chandramohan and Mahasen Samaravijaya. Mohan Chandramohan, Board Member and Major shareholder of Serendip Investment Group (Parent company of GVR Lanka), stated "We want to be an integral part of Sri Lanka's success and more importantly, to do something for our hometown, Kandy. Mahasen Samaravijaya and I are from Kandy." He added "We will absolutely insure that the project is conceived and completed in a socially responsible manner".

The first phase of the project, which is a 15 story Luxury Residential Apartment Complex, will consist of 26 units of two-bedroom apartments, 52 units of three-bedroom apartments and four penthouses.

The second phase of the project will consist of a separate 21- story building of 144, Four-Star Hotel rooms with some Serviced Apartments. Amenities include; Health Spa, Function Halls, Arcade and Roof Top Terrace Restaurants. The restaurants will have a 360 degree Views of the Mountain Range, Majestic Mahaweli River and the historic city of Kandy.

Minister of Investment Promotion Lakshman Yapa Abeywardena said "Tourism has been given a very important role by the government since it is a sector where Sri Lanka has a strong competitive advantage. Since our objective is to achieve 2.5 million tourist arrivals by 2016, it is essential that tourism related infrastructure such as hotel room capacity is significantly increased. Kandy with its scenic beauty and religious and cultural importance to the country will greatly benefit from this project".