About Port City Colombo
Port City Colombo
Port City Colombo is a brand-new city development built as an International ‘Service Oriented’ Special Economic Zone with an initial investment of US$1.4bn and an expected US$20bn overall investment when completed. Spanning 269 ha, it is a sea reclamation project next to the existing Colombo Business District (CBD).
The Colombo Port City Economic Commission Act, No. 11 of 2021 was approved by the Government of Sri Lanka in May 2021, with a modern legal framework and attractive regulations focused on ease of doing business.
The ‘Area of Authority’ (AOA) of the Port City Colombo consists of the boundaries set out in Schedule 1 of the Colombo Port City Economic Commission Act. From the date of commencement of the Port City Act (i.e., 27 May 2021), all land comprising the AOA has been vested in the ‘Colombo Port City Economic Commission’ (Commission) by way of a ‘Land Grant’ issued by the President of Sri Lanka (President) under the State Lands Ordinance (Chapter 454). Within the AOA, the Project Company has been given a (99-year) lease.
When the city is fully developed by 2040, Port City Colombo is estimated to have some 6.3Mn m2 of build-up space and a city population of 273,000.
Building a world class offshore SEZ for South Asia.
To develop the most livable city in South Asia. Built on sustainable values, a healthy environment with future ready infrastructure to enhance living convenience.
An exemplary city providing the highest quality commercial, entertainment, medical, educational and lifestyle opportunities. The catalyst for growth, a place that fuses the culture and energy of a nation with international best practice.
Port City in Numbers
The Pearl of Indian Ocean
- Strategically located at the gateway to South Asia, Sri Lanka act as the key link between the East and the West.
- Time zone supporting different markets: international company may uniquely benefit as they avail 2 hours out of 8 office hours where western and east Asian markets are parallel operational
- Connecting major global financial markets: Dubai & Singapore, within 5 hours by air.
- Proximity to India: expected to be the 3rd largest economy by 2030; and contributes nearly 70% of transshipment volume from Sri Lanka
- Colombo international container terminals (CICT) : is the only deep-water terminal operator in south Asia
- Exposure to China's modern trade route; BRI, which covers 60 countries with a combined population of over 3.2 bn
- Sri Lanka is the second most connected nation in south Asia.
Progress up to Date
The Marina of Colombo Port City has been open to public since 10 January 2022. It has marked over 700,000 visitors during the first quarter of 2022 arrivals to experience the new life style in Colombo.