Greener Water Limited, the leisure sector investment arm of Vallibel One has entered into an agreement with the Board of Investment of Sri Lanka for an integrated resort complex at an estimated cost of USD 60.0 million.

According to the Vallibel One website, Greener Water Ltd will invest in a 382 room, luxurious five star resort to be located in Kochichikade, Negombo, Sri Lanka.

Greener Water has already invested in the 14 acre land at a cost of LKR 268.06 million, which is a free hold land. The initial design concept for the hotel was carried out by WATG of Singapore, one of the world's leading design consultants for the hospitality, leisure and entertainment industry. The first stage architectural designs have already been completed and detailed designing in terms of M&A designs & landscape designs are currently in progress.

Greener Water Ltd was incorporated on 24 June 2010 under the Companies Act No. 7 of 2007.