INSUBCONTINENT EXCLUSIVE:
Singapore-based renovation and interior design company, Kreate Design Pte
18) signed a USD 1 billion investment agreement with the Colombo Lotus Tower Management Company (Pvt) Ltd.This investment agreement will see
the development of water sports and an entertainment zone at the Lotus Tower in Colombo within the next six months.The Lotus Tower,
considered the tallest self-supported structure in South Asia and the tallest skyscraper in Sri Lanka, officially commenced operations on
September 15, 2022 as it was declared open to the public.Measuring up to 356 metres in height, the Lotus Tower was constructed with a cost
to the tune of USD 113 million
A Chinese company granted USD 88.65 million while the rest was borne by the Sri Lankan government
The loan instalments are due to be completed by 2024
USD 66.3936 million of the loan has already been paid.Colombo Lotus Tower Management Company (Pvt) Ltd
loan agreement between the Telecommunication Regulatory Commission of Sri Lanka (TRCSL) and China was initiated and the work on the Lotus
This article first appeared/also appeared in https://adaderana.lk
