Havelock City breaks ground for US $ 166mn commercial development
Dec 29, 2016 – Overseas Realty Chairman and visionary businessman S.P. Tao, Foreign Affairs Minister Mangala Samaraweera and Megapolis and Western Development Minister Patali Champika Ranawaka break the ground for Havelock City Commercial Development with other dignitaries
- Project comprises of a 46-storeyed, 600,000-square feet office tower and a 200,000-square feet shopping mall. Set to be completed by 2020
- “Having achieved my great age of 100 years and witnessed considerable changes regionally and globally, I am even more bullish on the growth prospects of Sri Lanka”- Tao
Havelock City, the premier mixed-use development project in Sri Lanka, ceremoniously conducted the ground-breaking and inauguration of its commercial development project under the auspices of Overseas Realty Chairman and visionary businessman S.P. Tao.
Foreign Affairs Minister Mangala Samaraweera graced the event as the chief guest along with many other distinguished dignitaries.
The Havelock City Commercial Development, a US $ 166 million Board of Investments (BOI)-approved project, comprises a 46-storeyed, 600,000-square feet office tower and a 200,000 square feet shopping mall built to international standards, which will be a landmark in the vicinity and transform the skyline of Colombo.
Havelock City, the brainchild of S.P. Tao, is developed by Mireka Capital Land, a joint venture between Overseas Realty Ceylon, the owner, developer and manager of the iconic World Trade Centre Colombo, and Bank of Ceylon, Sri Lanka’s largest commercial bank. “We are delighted to be gathered here today to witness a symbolic ground-breaking for the US $ 166 million Havelock City Commercial Development. On completion, in 2020, it will boast an iconic 46-storeyed, 600,000-square feet office building and a 200,000-square feet shopping mall, which will visually anchor the Havelock City residence,” stated Tao. Tao, a naturalized citizen of Singapore of Chinese origin, has extensive worldwide business experience and is widely regarded as a visionary entrepreneur in the commodities, shipping and real estate sectors. “My first business foray in Sri Lanka was when I assisted the government of Sri Lanka in 1970 to set up Ceylon Shipping Corporation through the sale of my ship Mv Lanka Rani. I was convinced then, 46 years ago, that Sri Lanka will be a vital distribution maritime container transshipment hub for the Gulf and South Asia. Today, with China’s development of its one road one belt strategy, Sri Lanka’s importance as a maritime centre is secured,” commented Tao. The office tower housing grade ‘A’ premium office space is designed to be a LEED GOLD certified building and is built to highest standards that enable efficient space planning through column-free, wide floor plates. A smart functioning infrastructure with computerized car park, elevator and building management systems along with the overall design and appearance facilitates businesses an unparalleled competitive advantage. The shopping centre is developed as a community level shopping mall serving the lifestyle needs of the catchment. A miniature heaven for the ardent shopaholic, the mega mall comprises six floors of the world’s leading brands and retail stores, dining and entertainment experiences amidst a state-of-the-art multiplex cinema, a welcoming treat to anyone who craves an undivided shopping experience. Additionally, the two basement levels of parking with ample space to park over 900 vehicles complements the convenience and vibrancy offered by the Havelock City Commercial Development. “I am a fervent believer that the property market is the biggest enterprise in any leading city in the world and its development tracks a country’s social and economic success. Having achieved my great age of 100 years and witnessed considerable changes regionally and globally, I am even more bullish on the growth prospects of Sri Lanka. My family and I are extremely proud to be part of the growth as long-term investors in Overseas Realty (Ceylon) PLC, the premier listed property company in Sri Lanka,” remarked Tao.