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August 14, 2011updated 27 Jan 2022 9:00am

Indocean Plans Mixed-Use Development in Sri Lanka

India-based Indocean Developers is planning to build a $400m shopping and residential lakefront complex in the Sri Lankan capital of Colombo. Under the project, the company will transform Sir James Peiris Mawatha into a street filled with retail stores, cafes, restaurants, spas and pre

By cms admin

India-based Indocean Developers is planning to build a $400m shopping and residential lakefront complex in the Sri Lankan capital of Colombo.

Under the project, the company will transform Sir James Peiris Mawatha into a street filled with retail stores, cafes, restaurants, spas and premium residences.

The company has paid $23m to acquire two acres of land in front of Colombo’s Beira Lake on Sri James Peiris Mawatha for a 99-year lease from the Urban Development Authority of Sri Lanka.

Construction on the project is expected to begin within a year and could be finished in three years.

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