BOARD OF INVESTMENT ( CONT. )...!
BOARD OF INVESTMENT ( CONT. )...!
i.
(Pharmaceutical Zone)
· Project overview
· BOI is establishing a state-of-the-art pharmaceutical zone in Arabokka, Hambantota, to support the development of new industrial verticals through import substitution and exports.
· This dedicated pharmaceutical manufacturing zone plans to meet 40% of the domestic demand for pharmaceuticals with locally manufactured drugs by 2025, while creating a path to export earnings as an import substitute
· Strategic pharmaceutical investments established within the proposed zone will be eligible for benefits under the SDP Act. This state-of-the-art zone will be designed in line with international standards and accreditations.
· This specially designed zone will create a conducive and livable business environment for globally innovated pharmaceutical brands, bringing in the latest technological advancements for manufacturing pharmaceutical products.
·
Common facilities provided: Wastewater treatment and sea discharge and common
logistics facilities
·
o Common facilities provided: Wastewater treatment and sea discharge and
common logistics facilities
Scheme/Ownership Structure
Foreign Direct Investment
(FDI), Domestic Private Investment Incentives
Incentives
·
5-10 year tax holiday for exports (period of tax concessions based on the
amount of investment, type of product produced, market orientation, patent
rights, domestic value addition, product quality, etc.)
·
0% duty and tax on imported capital goods and raw materials
·
Exemptions for import substitution under Value Added Tax (VAT), Port &
Airport Levy (PAL), Customs Import Duty (CID), Commodity Export Subsidy Scheme
(CESS)
·
Other incentives
·
Non-resident companies are exempt from dividend income and withholding
taxes.
·
Sri Lanka has double taxation agreements with 46 countries.
·
100% repatriation of capital and profits is allowed
·
Access to skilled human capital with a literacy rate of 92%, which is 30%
lower in the region compared to the cost
Textile Zone
Project overview
• This zone has
been declared a “Strategic Development Project” (SDP) and strategic textile
manufacturing investments established within the zone boundaries are eligible
to receive benefits under the SDP Act of Sri Lanka. Spread over ~300 acres,
this zone will provide opportunities for multiple verticals related to textile
manufacturing.
• Manufacturers
can set up plants in this exclusive area, which has a number of facilities and
amenities including sea discharge, central wastewater treatment plant and pre-approved
environmental clearances for all products. This processing park aims to reduce
lead times by making locally sourced fabrics available to reduce input costs.
Project/Ownership Structure
• Foreign Direct Investment (FDI), Domestic Private Investment
Hospitality & Tourism
Land at Kafur Building, Colombo Fort
·
The Kafur Building, also known as Kafur Rooms, is a
historic commercial building located in the Colombo Fort area. The building is
located in the Colombo Heritage Square, in front of the Port Passenger
Terminal. The Kafur Building beautifully showcases its rich heritage spanning
over a century. While preserving and renovating its historical value, it will
be the premier choice for a luxurious and differentiated hospitality experience
for upscale travelers and visitors from around the world..
·
Estimated Value:
USD
12.76 million
·
Terms of
Allocation
30/50/99
years lease basis
·
Planning Authority
Urban
Development Authority (UDA)
Land on Kalito Beach – Kalutara
• Kalito Beach is an interesting stretch of beach
located close to Kalutara town and is one of the unique beaches on the southern
coast of the island. The beach is also home to some amazing restaurants serving
some great local cuisine.
• This
land would be an ideal location to build a rest house to facilitate tourists'
leisure activities and food and accommodation needs.
Estimated
Value:
USD 0.12
million
Terms
of Allocation
30-year lease basis
Planning
Authority
Urban Development Authority (UDA))
Old Post Office Land
Kali Fort
• The Old Post Office was one of the first five
post offices opened in the colony by the British. The building was built during
the Dutch occupation as the official residence of the Dutch Governor. The post
office building was gazetted as an archaeologically protected monument in 1974
and in 1988 UNESCO declared the Galle Fort a World Heritage Site.
• The Urban Development Authority (UDA) has taken
steps to restore the dilapidated post office building and proposes to convert
the building into a luxury restaurant, a museum for the postal department, a
mini post office depicting the history and hotel rooms in a new building. Block
towards the vacant plot of land.
§ Estimated
Value:
·
USD 2.4 million
§ Terms
of Allocation
·
On a 30-year lease basis
§ Planning
Authority
·
Urban Development Authority (UDA)
(Land at Sir Baron
Jayathilaka Mawatha)
• The property, located at No. 11, Sir Baron
Jayathilaka Mawatha, Colombo 01, is proposed for lease for a mixed development
project including a Tea Museum and Tea Experience Centre. It is required to
preserve its historical character and original architectural feature/value
while incorporating modern technological features/facilities. The Tea Museum
can be developed with a focus on the education of visitors in the history, tea
heritage emphasizing the heritage of the industry, growing techniques,
processing and ultimately various Ceylon tea and related factors.
o Estimated
Value:
§ USD
0.07 million
o Terms
of Allocation
§ On
a 30-year lease basis
o Planning
Authority
§ Urban
Development Authority (UDA)
CULTURAL & TOURISM CENTER BOGAMBARA
• The property is located in
the heart of Kandy City, the commercial hub and administrative capital of the
Kandy District. The city is beautiful and set on a plateau surrounded by
mountains and has a huge potential for urban development. The property is to be
transformed into a tourist and cultural center by renovating the existing
prison building and showcasing the living conditions of former prisoners to
visitors, while the rooms will be converted into modern, comfortable rooms with
all basic amenities. The main access is from the central city – Keppetipola
Road, Kandy. The location is in close proximity to educational facilities,
cultural landmarks, financial centers and major transport links.
·
Estimated Value:
§ USD
23.65 million
·
Terms of Allocation
§ On
a 50-year lease basis
·
Planning Authority
§ Urban
Development Authority (UDA)
(HOSPITALITY AND
LEISURE DEVELOPMENT HIKKADUWA)
• The subject land is located in Hikkaduwa, facing
the Colombo – Galle main road and opposite the beach front, with beautiful sea
views that will enhance its property value. Hikkaduwa is well known for its
beautiful beaches, coral reefs and abundant marine life, while also being
popular for surfing, snorkeling and scuba diving. The town also has a vibrant
nightlife with many bars, restaurants and nightclubs.
• Considering the above, the development potential of
this land is significantly high and UDA expects to provide the land for
hospitality and leisure developments.
·
Estimated Value:
§ USD
0.12 million
·
Terms of Allocation
§ 30,
50, 99 years lease basis
·
Planning Authority
§ Urban
Development Authority (UDA)
Lub Boutique Hotel – colombo07
• 80 Club is located in one of the
most prestigious and affluent areas of Colombo and is conveniently located to
all the iconic landmarks around the city. . The club is housed in a grand
colonial-era building with spacious lawns and well-maintained gardens. The
building houses several dining rooms and lounges, including an excellent
restaurant, a coffee shop and a bar..
·
Estimated Value:
o USD
10.74 million
·
Allocation Terms
o 50
years
·
Planning Authority
o Urban
Development Authority (UDA)
(Mixed Development)
(High rise mixed development project Colombo
07)
• Colombo 07,
also known as Cinnamon
• Known as, it is a neighborhood located in the heart of
Colombo, the capital of Sri Lanka.
• It is home to several embassies, foreign embassies and
government institutions, including the Prime Minister's Office and the Ministry
of Foreign Affairs.
• The land was proposed as a high-quality mixed-use
development project on the subject land, considering its potential and
location.
·
Estimated Value:
o USD
13.64 million
·
Terms of Allocation
o 99
year lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(
Mixed
Development Project at Makumbura)
• Makumpura is a suburb located in the Kottawa area
of the Colombo District. It is located approximately 22 km from Colombo and
is a rapidly developing area with a mix of residential and commercial
properties. Makumpura is known for its easy access to several major highways,
including the Southern Expressway and the Outer Ring Expressway, making it a
convenient location for commuters to travel to other parts of the country.
• The land is located opposite the Makumpura
Multimodal Centre (MMC). Considering its potential and location, UDA is looking
to provide the land for a mixed development project.
·
Estimated Value:
o USD
2.16 million
·
Terms of Allocation
o 99
year lease
·
Planning Authority
o Urban
Development Authority (UDA)
(Mixed Development Project at Warakapola)
• This is a land located in the heart of Warakapola
town and this land has been identified for the implementation of a mixed
development project comprising commercial and financial uses. It is also
located facing the Colombo - Kandy main road and the Colombo - Kandy bypass
road.
• Therefore, the land located in the heart of
Warakapola town can be called a land with great development potential.
·
Estimated Value:
o USD
1.65 million
·
Terms of Allocation
o On
a 30-year lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(Mixed Development Project at Battaramulla)
• The land is located in close proximity to the
administrative capital Sri Jayewardenepura Kotte and the commercial hub of
Colombo. The area is a rapidly developing administrative, commercial and
residential area. The proposed high-rise mixed development will provide access
to commercial complexes, office spaces, high-end commercial spaces and a wide
range of recreational facilities. Furthermore, the property is ideal for a
mixed development project that will cater to the growing demand for commercial
and recreational activities.
·
Estimated Value:
o USD
7.40 million
·
Terms of Allocation
o 99
year lease basis
·
Planning Authority
o Urban
Development Authority (UDA)
(Mixed Development Project at Colombo 09)
•
The
land is located facing Baseline and Dematagoda roads. UDA is looking for a
mixed development with the aim of generating more economic activity in the
region and the investor can propose any suitable activities that comply with
UDA zoning and building regulations.
BOARD OF INVESTMENT ( CONT. )...!
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