Port City Colombo has taken a significant step forward with the signing of an agreement to develop Colombo Gateway Tower One, the first major commercial office building within the project. The development will be led by a consortium headed by Canary Wharf Holdings Pte Ltd, the development arm of Singapore-based Platinum Advisors Pte Ltd.
The tower will have 34 storeys, including 28 floors of office space covering 28,000 sqm, as well as retail and leisure areas. This mix of offices and amenities will provide a convenient and modern workspace for businesses in the city.
Located at Plot 01-01-04 in Port City Colombo, construction is scheduled to begin in May 2026, with completion expected by June 2029. The building will offer uninterrupted views of the Marina and Colombo city, smart office systems, and high-quality shared facilities.
Speaking about the project’s financial structure, Nadeen Kumarasinghe added:
The beauty of this job is that the 3.5 billion dollars does not have to be paid upfront, so there is a year-based payment which I will focus on.
Your capital drawdown is gradually over 3 years, aligned with the construction time.
The Colombo Gateway Tower will address the growing demand for professional office space in Port City Colombo. Registered Authorised Persons (APs) will be able to move from temporary offices outside the zone into a central, well-equipped workplace, helping improve productivity and staff satisfaction.
The Memorandum of Understanding for the project was signed by Sharhan Musheen, Chairman of Canary Wharf Holdings Pte Ltd, and Xiong Hongfeng, Managing Director of CHEC Port City Colombo (Pvt) Ltd (CPCC), paving the way for the development of Colombo Gateway Tower One.
Source: bizenglish.adaderana.lk with additional information added by Glass Balkan
