Analysis
Another 100 room luxury hotel in Galle
Aug 22, 201410:35 AM
Asia Leisure, a subsidiary of Asia Capital PLC together with a Japanese investment is to construct a 100 roomed super luxury hotel in Galle at a cost of Rs. 1.8 billion.
Asia Leisure says that this hotel is to be constructed on a two acre plot of land bought early this year along the Galle coastline.
Fifty percent of the estimated cost is to be borne by Asia Leisure and the balance by two Japanese investors.
The construction work on this hotel is to begin by end of this year and completed by 2016.
It is also to be noted that Asia Capital PLC carried out a private placement of shares to Yoshimichi Watanabe and Eiji Watanabe recently and raised an amount of Rs. 384 million.
