Renuka Hotels and Cargo Boat Group embark on Rs. 2 bln state-of-the-art rentable office complex in Colombo
Renuka Land (Pvt) Ltd, a joint venture between Renuka Hotels Ltd and Cargo Boat Development Company PLC, has initiated a project to construct a modern rentable ‘Class A’ office building in Colombo catering to the much needed requirement of such a facility in the rapidly developing city.
The building will be located on company owned land at No 29, Braybrooke Street, Colombo 2, in the heart of the metropolis. The total investment for the Board of Investment (BOI) approved project has been estimated at Rs. 2 billion, according to a company statement.
The building will adhere to modern international standards and criteria at all stages of construction along with the introduction of new and innovative features to its design. The construction of the building, which is scheduled to commence in December this year, will be seeing its culmination in April 2017.
The property will consist of 204,343 sq ft out of which 108,138 sq ft will be available for rent. The design comprises of the ground floor, basement and 13 levels, out of which five levels will be allocated for parking with 160 parking bays, which has incorporated recreational and utility facilities such as a coffee shop, a gymnasium a roof top terrace and a laundry and drycleaners into its blue print with the aim of providing maximum convenience to their tenants, it said. The Board of Directors of Renuka Land Pvt Ltd include. R.B. Thambiayah, Ms. N.A. Thambiayah, Ms. S.R. Thambiayah, Ms. A.L. Thambiayah, Ms. N.R. Thambiayah, Ms. M.A. Jayawardena, W.D. Nimal Hemasiri Perera and S.M. Tishan Harendranath Subasinghe.