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City of Dreams Sri Lanka seeking to take local tourism to world after first year

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By Ifham Nizam

‘City of Dreams Sri Lanka’ has completed its first year of operations with its leadership expressing confidence that the landmark integrated resort can help position Colombo and Sri Lanka as a destination for high-end tourism, entertainment and international business.

The first anniversary was marked with a special celebration bringing together customers, business partners, vendors and other stakeholders who supported the project through its development and first 12 months of operations.

Kamal Munasinghe, Senior Vice President, Colombo Hotels, Cinnamon Hotels & Resorts and General Manager, Cinnamon Life at ‘City of Dreams Sri Lanka’, said the anniversary was more than a celebration of the completion of the resort’s first year.

“It’s more than an anniversary. It’s time to say thank you because the last 12 months for us has been a really tough journey, Munasinghe said.

He said a project of the scale and nature of ‘City of Dreams Sri Lanka’ would have been difficult to imagine in Sri Lanka several years ago.

“A project like this doesn’t come regularly and for a country like ours to have an integrated resort like this, I think no one has even thought of, he said.

Munasinghe noted that large-scale projects of this nature faced considerable challenges and required substantial upfront commitments to achieve their long-term objectives.

He said the support extended by Sri Lankan customers and stakeholders during the first year had therefore been particularly important.

“Everyone who has been to our restaurants, every one of you who has been into our events, has held an event with us, who has stayed with us, who’s been supporting us, recommending us to all your partners, all your friends and family, big thank you to all of you from ‘City of Dreams Sri Lanka’ and my entire team, Munasinghe said.

“The first 12 months in operation has given a lot of strength and shown us who we can trust, who we can work with and who are our well-wishers, he said.

Munasinghe stressed that the project should not be viewed simply as a hotel.

“For us at ‘City of Dreams’, this is not just a hotel. This is something that we built for the destination and it is a destination itself, he said.

He described the integrated resort as a pioneering development for the region and said its creation had involved the efforts of many people over a long period.

“The dream started a long time ago. There were lots and lots of people who’ve been working really hard to bring ‘City of Dreams to life’, Munasinghe said.

He paid tribute to the teams at ‘City of Dreams Sri Lanka’, Cinnamon Life, Melco and the resort’s retail outlets for their commitment during the first year.

Looking ahead, Munasinghe acknowledged that the journey would continue to present challenges but said he remained confident about the future with the support of stakeholders.

“With all your support, I’m sure we can achieve what we need to achieve and bring Sri Lanka to the world. And as Sri Lankans, we can bring the best of Sri Lanka to the world with style and elegance, he said.

Vice President and Property General Manager of ‘City of Dreams Sri Lanka’ Michael Habashi said the first anniversary represented an important milestone for the project and its international partners.

“We’re very proud to be part of this project and to bring our international brand to Sri Lanka, Habashi said.

He said the quality and scale of the development enabled it to stand alongside established integrated-resort destinations internationally.

“If you were to pick this up and put it anywhere in those locations, it would look like it’s in place, he said, referring to destinations such as Macau, Las Vegas and Singapore.

“Our partners at John Keells had the vision to get to this point, but of course they couldn’t have gotten to this point in time without the support of everybody, he said.

He described Sri Lanka’s resilience and determination as key characteristics reflected in the project.

“This encompasses, I think, the Sri Lankan culture, the resilience, the determination to succeed. And I can see that in our partners at John Keells and Cinnamon Life, Habashi said.

Having travelled to several countries and been involved in opening integrated resorts, Habashi said the Sri Lankan property also connected visitors to the company’s international network.

“The beauty of this project is our guests now not only have access to City of Dreams Sri Lanka, but they have access to our international network through Macau, Manila, Cyprus, and now Sri Lanka, he said.



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HNB Finance strengthens Board with four independent directors

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Newly appointed HNB FINANCE PLC Independent Non- Executive Directors (from left): Renuke Wijayawardhane, Shanti Gnanapragasam, Nabiha Mohamed and Dr. Thisuri Wanniarachchi

HNB FINANCE PLC has strengthened its Board with the appointment of four Independent Non-Executive Directors, effective September 8, 2026.

The new directors are Renuke Wijayawardhane, Shanti Gnanapragasam, Nabiha Mohamed and Dr. Thisuri Wanniarachchi, who collectively bring extensive experience in financial regulation, banking, risk management, corporate finance, investment strategy, development finance and public policy.

Wijayawardhane, an Attorney-at-Law and capital market professional, retired in July 2025 as Chief Regulatory Officer of the Colombo Stock Exchange after more than 31 years with the Exchange. His experience covers securities regulation, corporate governance, market infrastructure and compliance.

Gnanapragasam has over four decades of banking experience spanning treasury, risk management, credit and trade finance. She currently serves as an Independent Non-Executive Director of Cargills Bank, Wealth Trust and Vision Fund Lanka.

Mohamed is a corporate finance and investment professional who previously served as Lead Transaction Advisor at the State-Owned Enterprise Restructuring Unit of the Ministry of Finance, where she led five divestiture transactions worth over US$600 million.

Dr. Wanniarachchi brings over a decade of experience in development finance, institutional reform and social protection, including work with the World Bank and the Government of Sri Lanka.

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Prime Residencies hands over The Palace Gampaha

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Prime Group Chairman Premalal Brahmanage speaking at the event

Prime Lands Residencies PLC has completed and officially handed over The Palace Gampaha, described as the largest planned gated residential community in Gampaha, to its homeowners.

The development, which commenced construction in 2021, is located two kilometres from Gampaha town and 100 metres from the Colombo-Kandy main road.

Spread across 13.5 acres, The Palace Gampaha comprises 480 two- and three-bedroom apartments in a ground-plus-three-floor development, with prices starting from Rs. 27.5 million.

The project allocates about 80% of its land to landscaped areas and common facilities, while the remaining 20% is used for apartment development. Facilities include a swimming pool, gymnasium, clubhouse, library, community kitchen, laundry, mini-mart and a daycare centre managed by the Lyceum Group.

The fully gated community also incorporates solar power for common areas, underground electricity cabling and a sewage treatment plant with water recycling facilities.

Prime Residencies said all statutory approvals required for the handover had been secured, including certifications from the Condominium Management Authority and registration of the Condominium Plan and Deed of Declaration.

Prime Group Chairman Premalal Brahmanage said the project reflected the company’s vision of creating large-scale residential communities designed to enhance the quality of life of Sri Lankan families.

The project is the latest addition to Prime Group’s portfolio of more than 70 gated community and apartment developments.

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SLANA warns NVOCC business losing ground amid THC concerns

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SLANA Chairperson Swabha Wickramasinghe presenting a memento to Minister of Ports and Civil Aviation Anura Karunathilaka at the eventually

Sri Lanka’s Non-Vessel Operating Common Carrier (NVOCC) sector is losing ground despite the expansion of the industry in several regional markets, Sri Lanka Association of NVOCC Agents (SLANA) Chairperson Swabha Wickramasinghe said.

Wickramasinghe, re-elected for a third consecutive term at SLANA’s ninth Annual General Meeting last week said the continued difficulty in collecting Colombo Terminal Handling Charges (THC) as a separate land-based cost was among the key challenges facing the industry.

She said the practice placed Sri Lanka at a competitive disadvantage as principals consider the overall economics of operating through Colombo.

“When Sri Lanka becomes less commercially attractive compared with other regional destinations, the consequences eventually reach our members,” she said.

Wickramasinghe said a committee had been proposed at a recent meeting with the Minister and Deputy Minister to evaluate the THC issue, urging the authorities to expedite its appointment and review.

She also called for an early solution to the problem of uncleared salt containers at the Port of Colombo, which has resulted in delays in releasing empty containers.

With more than 75 NVOCC lines operating in Sri Lanka, she stressed the sector’s importance to regional trade, particularly links with India and China.

Ports Minister Anura Karunathilaka said Sri Lanka should expand regional business while exploring areas such as bunkering, freight forwarding and e-commerce logistics.

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