Business
‘80 Club’ in Colombo 7 becomes public property following UDA acquisition
* 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.”
Business
SriLankan Airlines Enhances Australia Connectivity with 14 Weekly Flights
11 March 2026; Colombo – SriLankan Airlines is set to increase its weekly service between Colombo and Melbourne to 10 flights, effective from 2 August 2026, with the addition of three more scheduled flights in response to growing demand and evolving market dynamics. The expansion reinforces the airline’s commitment to strengthening its footprint in Australia, recently identified as one of the fastest-growing inbound tourism markets to Sri Lanka, driven by leisure travel and a rising volume of visits by family and friends.
The newly added flights will operate every Tuesday, Thursday and Sunday, departing Colombo as UL608 at 14:10 hrs and arriving in Melbourne at 04:30 hrs the following day. The return service, UL609, will depart Melbourne every Wednesday, Friday and Monday at 06:00 hrs, arriving in Colombo at 12:15 hrs the same day, offering convenient onward connections across the airline’s network. The schedule is designed to maximise time spent in Sri Lanka for leisure travellers while enhancing connectivity for passengers travelling onwards to India via Colombo.
In addition to the new frequencies, the airline will continue operating its daily service, UL604, departing Colombo at 00:20 hrs and arriving in Melbourne at 14:40 hrs, with the return service UL605 departing Melbourne at 16:10 hrs and arriving in Colombo at 22:25 hrs. These services provide seamless connectivity to key destinations across India and beyond.
This addition of flights will provide Sri Lankans with better options when choosing flights between the two countries and enable them to plan their travel more conveniently. The increased frequency will be especially beneficial for the Sri Lankan diaspora living in Australia, providing greater flexibility to visit family and friends while maintaining strong connections with their homeland.
Additionally, Sri Lankan students studying in Australia will find these enhanced services advantageous, as the expanded schedule accommodates academic calendars and holiday breaks, making it easier to travel home and return to their studies. Overall, improved connectivity supports both the expatriate community and students by offering more convenient and accessible travel options tailored to their needs.
The increased frequencies will further strengthen Colombo’s role as a regional hub, enabling Indian travellers to seamlessly connect via Sri Lanka to Melbourne, with convenient schedules and efficient onward connections. For more information and bookings, visit www.srilankan.com or follow us on our social media.
Business
Nestlé Lanka marks 120 years of nourishing Sri Lankan families and livelihoods
Nestlé Lanka Limited this year marks 120 years of operations in Sri Lanka, highlighting a century-long presence that has extended beyond food manufacturing to supporting farmers, communities, youth employment and environmental sustainability.
Established in 1906, the company has grown into one of Sri Lanka’s leading food and beverage manufacturers, today producing more than 90% of the products it sells locally. Over the decades, Nestlé Lanka has built a strong domestic footprint through local sourcing, long-term farmer partnerships and continued investment in manufacturing.
Through widely recognised brands such as Nestomalt, Milo and Maggi, the company has become a familiar presence in Sri Lankan households, offering products designed to meet local nutritional needs. Many of its products are fortified with micronutrients aimed at improving dietary intake, while brands such as Milo and Nestomalt have also supported youth sports and active lifestyles in the country.

Nestlé Lanka’s engagement with local agriculture has also played a role in strengthening rural livelihoods. The company works closely with dairy and coconut farmers, providing technical assistance, skills development and reliable market access as part of its responsible sourcing efforts.
The company has also expanded programmes aimed at improving youth employability. Through the “Nestlé Needs YOUth” initiative, young Sri Lankans are provided with access to training, learning and career opportunities. Partnerships with organisations such as BConnected have also helped promote inclusive employment opportunities for people with disabilities.
Sustainability has become an increasingly central focus of the company’s operations. Nestlé Lanka’s manufacturing facility in Kurunegala operates on 100% renewable electricity, while a biomass boiler commissioned in 2024 has helped reduce carbon emissions from manufacturing. The company aims to achieve net-zero carbon emissions by 2050.
Efforts to reduce environmental impact have also extended to packaging. Nestlé Lanka pioneered the shift from plastic to paper straws in aseptic beverage cartons in 2019 and supported the establishment of Sri Lanka’s first recycling plant for such cartons. The company aims to become fully plastic neutral by 2026.
Chairman and Managing Director Bernie Stefan said the milestone reflects the long-standing trust Sri Lankan consumers have placed in the company and the partnerships it has built across the country over generations.
By Sanath Nanayakkare
Business
Over a century of Business History goes to the National Archives
The Ceylon Chamber of Commerce has formally handed over its historical records to the National Archives Department of Sri Lanka, placing over a century of the nation’s commercial history into the care of the country’s official custodians of heritage.
The historical archive being handed over spans from the Chamber’s founding in 1839 to 1973, and includes correspondence, meeting minutes, reports, ledgers, and publications that chronicle the development of trade, enterprise, and industry in Sri Lanka. Together, these records provide a rare and detailed account of how the island’s economy evolved and how its business community helped shape national progress.
The Ceylon Chamber of Commerce was established on 25 March 1839 on the principle that the interests of commerce and trade are best advanced when merchants unite and cooperate in matters affecting the common good. At the time, Ceylon was among the earliest regions in Asia to establish a chamber of commerce, alongside counterparts in Bengal, Bombay, Madras, Canton, Penang, and Singapore.
From its earliest years, the Chamber played a central role in organising and guiding trade. It played a central role in establishing and growing the export economy built on commodities such as coffee, cinnamon, coconut oil, tea, and rubber, and hosted the island’s renowned tea and rubber auctions. It also developed rules and standards for trading practices, helping create an environment of trust and reliability that enabled Sri Lanka’s commerce to thrive.
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