Sri Lanka’s Board of Investment (BOI) has signed a $2 billion investment agreement with the World Capital Centre (WCC) to construct the tallest building in the Asian region.
The 117 floor building will become the largest tower in the world in terms of square meterage and the 9th tallest building in the world. The WCC is expected to the building in the center of Colombo’s commercial district.
The agreement was signed by the Chairman of the BOI Upul Jayasooirya during a ceremony alongside the Chairman of the WCC Ahmed Moulana.
The World Capital Centre (WCC) signed a US$ 2 billion investment agreement with the Board Of Investment (BOI) yesterday, for the much hyped and long awaited tallest building in the Asian region and the 9th tallest to be in the world.
The World Capital Centre also known as WCC is a globally renowned chain with its operations spread across the world and will be the centre of multiple trading and service providing establishments, having an astonishing twin tower with modern amenities of 117 floors, gracing a height of 625 metres to be built in the heart of Colombo’s commercial area. It will include 1,200 residential units, 2,000 hotel rooms, 3,000 retail outlets, 5,000 car-parking spaces, the WCC 7-star hotel, 20 luxurious swimming pools, gold presidential suites with gold-plated interiors, world’s fastest double-decker elevators, first Michelin starred restaurant in Sri Lanka, stunning observation deck and a helipad on the topmost floor.
The signing ceremony was represented by the Chairman of BOI - Upul Jayasooriya and the other senior officials of the BOI while WCC was represented by its key figure heads, the Chairman of WCC - Ahmed Moulana, Deputy Chairman of WCC - Vivekanandarajah A. Moorthy, Director of WCC - Dr. Senaka Silva, Director of WCC - Dr. Arosha Fernando, Director of WCC - R. Sadesh Kumar, Director of WCC - Wijendran Balakrishnan, MD of WCC - Imran Saleem, CEO of WCC Media - Shafraz Jalaldeen, and the Secretary of WCC - Waruni V. Ranasinghe.
This proposed building would be the tallest in Asia and the 9th in the world as accepted by the Skyscraper Centre of U.S.A., and will be the largest tower in the world having a total built up area of 800,000 square metres first of its kind in Sri Lanka, which would be an ultimate tribute to Sri Lanka as well as in the Asian economy, expected to be completed by end of year 2022. Sri Lanka being centrally located in South Asia is perfectly poised to be the launch pad for the Capital Centre owing to all the bilateral trade agreements, close ties with the developing nations and the long trade history with the rest of the world.
While many international banks have been operating in Sri Lanka for decades, the ending of the war has seen the expat community blooming together with large multinational companies looking to invest in new businesses or to open up branches. Within the region, Sri Lanka is very easy to do business with and eventually has the potential to become what Dubai is to the Middle East, what London is to Europe, what Singapore is to South-East Asia or what New York is to the Americas.
WCC intends to be the first financial centre to offer an innovative vehicle for investment companies to have their South Asian base here in Sri Lanka giving an extraordinary boost to the economic development of the country
