Lee Hedges Investments signs USD 9.5 million agreement with BOI

March, 14, 2014

Lee Hedges Investments Ltd, a subsidiary of Lee Hedges PLC has entered into an agreement with the Sri Lanka Board of Investment for a US dollar 9.5 million mixed development project on a land in Kollupitiya, disclosed the Colombo Stock Exchange.

This Hedges PLC subsidiary project is to provide 112,000 sq. feet of super grade office space in a 15 floor within a mixed development project with three floors of parking, central air conditioning and provision of two elevators.

While the consultants/Architects for the project is Design Consortium, the construction is to be with a unique colonial architectural design which would stand out on its Galle Road frontage.

This land was originally owned by Lee Hedges PLC and had been acquired by the Government in 1970 for the Cashew Corporation. However, Lee Hedges has obtained the land from the UDA on a 99 year lease.

Lee Hedges PLC has already developed several residential apartment complexes within the Colombo Municipal limits.