Port City Colombo, Sri Lanka’s flagship urban development project, marked its 11th anniversary this year with master developer China Harbour Engineering Company (CHEC) Port City Colombo (Pvt) Ltd. reaffirming its long-term commitment to foreign direct investment and the delivery of key infrastructure milestones.
Launched in 2014, the 269-hectare land reclamation and mixed-use development has now entered what developers describe as a new phase of commercial operations and vertical construction. Speaking at the milestone, CHEC Port City Colombo Managing Director Xiong Hongfeng said the project’s strategic vision has remained focused on supporting Sri Lanka’s economic growth while creating long-term opportunities for future generations. He added that the scale of Port City Colombo reflects the developer’s confidence in Sri Lanka’s potential to emerge as a strong regional hub in South Asia, despite the challenges encountered over the past decade.
Since inception, the project has navigated multiple external shocks, including political transitions, the 2019 Easter Sunday attacks, the COVID-19 pandemic, and the 2022 economic crisis. Despite these disruptions, Port City Colombo has remained on course, positioning itself as a world-class investment destination with long-term regional relevance.
A major inflection point was reached in 2019 with the completion of land reclamation, followed by the enactment of the Colombo Port City Economic Commission Act in 2021. Passed with bipartisan parliamentary support, the legislation established the Colombo Port City Special Economic Zone, providing a modern regulatory framework designed to enhance ease of doing business for international investors. To date, 146 enterprises focused on modern service exports have registered within the zone.
Further momentum was achieved in October 2025, when Port City Colombo successfully commissioned full public utility connections—including water, electricity, and sewage—to Colombo’s main city grid. This milestone signalled the project’s readiness for large-scale commercial activity and accelerated vertical development across the site.
Several landmark developments are already underway. The Mall at Port City Colombo, South Asia’s first downtown duty-free shopping destination, opened in September 2024, reinforcing Colombo’s position as a regional retail and lifestyle hub. The Business Centre at Port City Colombo, an integrated IT and business park, commenced construction in March 2024 and began handing over office space to tenants from May 2025.
In January 2025, Browns Investment PLC, the investment arm of the LOLC Group, began construction of the USD 120 million Luxury Marina Development. Scheduled for completion within three years, the project will feature berthing facilities for 200 small and mid-sized yachts, complemented by premium lifestyle, hospitality, and retail offerings.
To date, Port City Colombo has attracted over USD 1 billion in land development investments, with 27 projects designated as Businesses of Strategic Importance by the Cabinet. In parallel, efforts are underway to secure investors for planned international healthcare and education facilities, further diversifying the project’s investment mix.
As it enters its second decade, Port City Colombo continues to be positioned as a long-term catalyst for Sri Lanka’s ambitions in business, tourism, and foreign investment, with developers emphasising sustained collaboration with the Government to unlock the project’s full economic potential.