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‘80 Club’ in Colombo 7 becomes public property following UDA acquisition

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80 Club in Independence Avenue Colombo 7

* Opens the doors of the members-only club to the general public

* Run by Waters Edge as a high-end restaurant at present

* UDA looking for a lessee who can fully capitalize on the property as a heritage hotel

* Colombo has plans to create a ‘heritage corridor’ like in Barcelona

by Sanath Nanayakkare

80 Club in Independence Avenue Colombo 7, an exclusive clubhouse whose doors were open only for a select group of elite members of society, was officially declared public property following its full acquisition by the Urban Development Authority (UDA) on 23rd June 2023.

Before the acquisition by UDA, 80 Club used to foster a sense of exclusivity among the country’s so-called elite on a legacy management system with only its tenants changing from time to time.

Today it’s a public property, and as a result, the general public can now have access to 80 Club’s spatial garden landscape and high-end restaurant services which were once predominantly the prerogative of the upper class.

History has it that the 80 Club of Colombo was originally established in 1939 in Kandy before moving to its current location in Independence Avenue, Colombo 7 by a group of people who had formed a club in room number 80 of the ‘Queens’ Hotel, and hence the carry- forward of the colonial-era name to its current location.

After announcing the full acquisition of the property on June 23, UDA Chairman Nimesh Herath told the media that 80 Club would have been vested in the public much earlier if not for the multiple crises the country faced.

“Under the Colombo Development Masterplan, 80 Club was taken over by UDA in November 2020 and we renovated the property with comprehensive refurbishment and restoration at a cost of Rs. 411 million of UDA funds. Even after the renovations, 80 Club remained with the tenant because it had been leased to them by the Divisional Secretary. However, after the renovations were done by UDA, we received a barrage of complaints and audit inquiries because UDA had used public funds to restore it to its previous glory but only a small elite group was still enjoying it. At this point, we came to a mutual understanding with the tenant and fully acquired it.”

Further speaking he said,” In the past few years, a survey was conducted by the governments on underutilized lands and properties in Colombo. Based on this a Cabinet paper was presented after identifying 35-40 lands that fall under this category. 80 Club is one of them, and today it is a property fully owned by UDA. The catering and other important support services at 80 Club are carried out by Waters Edge Hotel which is owned by the UDA. The public can now have their weddings, parties and other functions here. We will be running this as a high-end hotel and restaurant.”

When asked about the prices of the services, he referred to two key factors and said, “You see, we had to preserve the building’s archeological value and its features and retain its colonial grandeur which cost us a lot of money. The food and beverage and other services we provide here will be of high quality. So, we may not be able to offer very low prices, but I think the members of the general public who care to have services of these standards will find our prices reasonable.”

UDA Chairman Nimesh Herath with Waters Edge Chairman Malith Perera at
the event where UDA declared the members-only elite 80 Club as public property, on 23rd June, 2023.

However, he said that UDA wants to lease out the property to a local or foreign investor who has the technical knowhow and financial capacity to further develop the club premises and its adjoining 60-perch land as a top-notch heritage boutique hotel. “I think the value of this property should be about Rs. 3-4 billion. In line with the tender procedure, we will give a base-value, and afterwards, competitive bidding will take place and the highest bidder will get it. The lease period we are currently looking at is between 30-50 years. Such a move will also enable UDA to make a return on its investment and receive a monthly income,” he said.

Nimesh pointed out that in line with the government’s Urban Development Masterplan; Otter Club, Visumpaya, the 183-year-old Grand Oriental Hotel (GOH), Gafoor Building etc., would be taking a similar development model.

“We have already carried out renovation work on Gafoor Building and will soon be calling bids from investors to lease it out. The government’s plan is to relocate the crucial administrative infrastructure such as the President’s House, Presidential Secretariat, PM’s Office and Residence in Kotte-Battaramulla area. The feasibility studies are underway in this regard. The objective is to create space in Colombo for a heritage corridor like in Barcelona,” he said.

GOH which underwent Rs. 250 million worth of renovations is now managed by Waters Edge and a Singapore investor has reportedly expressed interest in taking the property on lease.

UDA chairman noted that they are looking for an investor to resume work on the longtime unfinished Krrish and Destiny buildings in the heart of Colombo. “Krrish has taken payments for some apartments it was supposed to complete. We are pressurizing them because they have taken our land. We are going to discuss with the senior management of Krrish and find out their latest stance on the project. Meanwhile, we are on the lookout for a new investor,” he said.

US$ 650 million Indian-developed Krrish Square came to a standstill many years ago with over 30 floors being constructed. Krrish announced the project in August 2012, outlining plans to break ground in 2013 and complete the four-tower construction in 2016, but ran into controversy almost immediately over non-payment of dues under deadlines specified in the agreement and alleged kickbacks to politicians.

UDA chairman said that the President has directed Minister Prasanna Ranatunga to submit the updated Colombo Megapolis Masterplan. Meanwhile, the authorities have had a few rounds of discussions with Surbana Jurong, the Singaporean company which is designing the Megapolis Masterplan and they have a six-month timeline to complete and submit it.

When asked about the proposed Kandy development plan he said,” We have to pick an investor who respects the cultural value of the Sacred City and its economic, social and environmental aspects. So, negotiations are being conducted to find the right balance between heritage concerns of the city and investor interests.”



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ADB pledges over $1 billion annually to Sri Lanka in post-cyclone recovery push

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ADB President Masato Kanda meets Sri Lankan Prime Minister Harini Amarasuriya at ADB’s Manila headquarters.

Asian Development Bank (ADB) President Masato Kanda met with Sri Lanka Prime Minister Harini Amarasuriya at ADB’s Manila headquarters recently. The meeting reaffirmed the strong development partnership between ADB and Sri Lanka, with both leaders underscoring their commitment to post-cyclone recovery, inclusive growth, and advancing women’s equality.

“Sri Lanka’s resilience in the face of crises has been remarkable,” said Kanda. “We are committed to helping Sri Lanka rebuild after Cyclone Ditwah, while also investing in the country’s future by empowering women entrepreneurs and strengthening education and essential skills.”

Looking ahead, ADB is ready to provide more than $1 billion annually to Sri Lanka from 2026 to 2029. This financing will target macroeconomic stability, private sector-led growth, education and skills development, and resilient infrastructure. Key initiatives include a major digital transformation program to help unlock Sri Lanka’s digital economy, alongside support for its accession to the Regional Comprehensive Economic Partnership to deepen its integration into regional trade and investment networks.

During their discussion, Kanda emphasized ADB’s response to the devastation caused by Cyclone Ditwah. Building on emergency financing already mobilized, ADB is fast-tracking an emergency assistance loan to restore damaged infrastructure and support affected livelihoods.

With Dr. Amarasuriya serving as the keynote speaker for ADB’s International Women’s Day event, the leaders highlighted women’s equality as a cornerstone of inclusive development. Kanda noted ADB’s long-standing work as an implementing partner of the Women Entrepreneurs Finance Initiative, which expands access to finance, business skills training, and policy reform for women-owned enterprises. This partnership has helped drive lasting change, with Sri Lanka becoming one of the first countries to adopt the Women Entrepreneurs Finance Code at the national level in March 2025.

Dr. Amarasuriya also engaged in dialogue facilitated by ADB to advance Sri Lanka’s skills agenda, including discussions on referencing skills and qualifications with the Association of Southeast Asian Nations and on mutual areas of interest with the Philippines related to technical and vocational education and training.

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New Board appointed to lead Unit Trust Association of Sri Lanka

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The Unit Trust Association of Sri Lanka (UTASL) announced its new Board of Directors, appointing Jeevan Sukumaran of SENFIN Asset Management as President. The Board assumes leadership at a time of significant growth and resilience in Sri Lanka’s Unit Trust industry. Over the past five years, the number of unit holders has more than doubled, while assets under management have grown substantially, reflecting a clear shift in investor behaviour amid evolving economic conditions.

The 2026–2027 Board includes Vice President Kavin Karunamoorthy (First Capital Wealth Management), Secretary Asanka Herath (Lynear Wealth Management), Assistant Secretary Gayan De Silva (Capital Alliance), and Treasurer Wishan Perera (Softlogic Invest).

President Jeevan Sukumaran highlighted the importance of expanding the industry’s reach and increasing retail participation nationwide. “Whilst the Unit Trust industry has grown significantly in recent years, the next phase must focus on broadening retail investor participation across Sri Lanka’s different geographic/demographic sectors, with the key priority being strengthening investor education and awareness, particularly outside major urban centres. Improving financial literacy and expanding access to professionally managed investment solutions are essential to building long-term confidence and encouraging more Sri Lankans to invest in unit trusts.”

The new Board intends to build on the industry’s recent momentum by prioritising investor education, digital accessibility, and product innovation. Over the coming years, enhanced digital platforms are expected to make Unit Trust products more accessible, enabling investors across the country to participate in capital markets in a convenient and transparent manner.

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Indiya at Cinnamon Life enters a flavourful new chapter

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Colombo’s vibrant dining landscape has received a fresh infusion of flavour with the renewed culinary direction of Indiya, the signature Indian restaurant perched high above the city at Cinnamon Life at City of Dreams. With celebrated Indian chef Mukesh Joshi now steering the kitchen, the restaurant is presenting a menu that celebrates the depth, diversity and soul of Indian cuisine while subtly weaving in Sri Lankan influences.

Located on the spectacular Level 23 of the sprawling Cinnamon Life complex, Indiya’s setting itself feels like a prelude to the culinary journey that unfolds at the table.

The restaurant’s sweeping views of Colombo’s skyline provide a dramatic backdrop to a menu designed to take diners across India’s many culinary regions — from the fragrant biryani traditions of Awadh to the bold spice profiles of coastal kitchens.

At the heart of this new chapter is Chef Mukesh Joshi, a culinary craftsman whose career spans some of India’s most renowned hospitality institutions as well as prominent dining establishments in the Middle East.

Having honed his skills at luxury hotels such as The Westin and St. Regis Mumbai before leading kitchens in Dubai’s thriving Indian dining scene, Joshi is known for his ability to balance traditional flavours with contemporary finesse.

At Indiya, his philosophy is simple yet compelling: celebrate the authenticity of Indian cooking while creating dishes that encourage sharing and conversation.

The experience begins with a vibrant array of small plates that capture the playful spirit of India’s street food traditions. The crisp Sev Papdi Chaat offers bursts of sweet, tangy and spicy notes, while a generous Pakora Platter brings together an assortment of golden-fried fritters that evoke the comforting flavours of roadside tea stalls across the subcontinent.

From there, the menu moves naturally into the world of the tandoor — the clay oven that lies at the heart of many Indian kitchens. Among the highlights is the Hariyali Tandoori Gobi, where cauliflower is marinated in a fragrant blend of herbs before being charred to smoky perfection. Equally intriguing is the Rajma Galouti, a vegetarian reinterpretation of the famed Lucknowi kebab, delivering a melt-in-the-mouth texture that surprises and delights.

Seafood lovers will find much to savour as well. Jhinga Koliwada, a coastal delicacy of spiced prawns fried to a crisp exterior, offers a lively contrast to the delicately seasoned Rawa Fried Surmai. These dishes reflect Chef Mukesh’s confident handling of spice and texture — two essential pillars of Indian cooking.

No Indian dining experience would be complete without the ritual of sharing freshly baked breads, and Indiya’s basket arrives warm and inviting. Chilli Cheese Naan brings a playful modern twist to a classic favourite, while flaky parathas and stuffed Aloo Kulcha provide comforting companions to the restaurant’s richly spiced curries.

By Ifham Nizam

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