Business

Entertainment centre with Ferris wheel in Battaramulla by 2020

Fantasy Island, a family entertainment centre featuring a 40 m Ferris wheel which is to be developed at Waters Edge in Battaramulla, will be opened to the public in 2020, having secured the necessary FDI of $ 4 million for the first phase.

Although first announced in January 2018, Fantasy Island (Pvt.) Ltd. and the Board of Investment of Sri Lanka (BOI) only signed the agreement for the investment on Wednesday (17), according to the BOI. Accordingly, the investment for the first phase will be over $ 4 million.

The company said it aims to make this Colombo’s premier family entertainment centre and in addition to the 40 m Ferris wheel, it will feature an indoor snow experience and a big water play area, including waterslides.

With brand new equipment exclusively from European suppliers, the park will provide plenty of fun and educational activities while ensuring the highest quality and safety standards. The Melchers Group, active in Sri Lanka for over 35 years, combines local expertise with international entertainment experiences for development and operations.

“In the first phase, the investment of more than $ 4 million will bring inclusive attractions for the entire family which are truly unique to Sri Lanka. Fantasy Island will create over 60 employment and career development opportunities for the community,” explained CMC Engineering Export (the Sri Lankan office of the Melchers Group) Chairman Michael Perera.

Melchers Group – South-East Asia Managing Director and founding investor Alexander Melchers stated: “We believe in the local and international tourism industry of Sri Lanka. I am very confident in the business outlook in Sri Lanka. We represent German, Singaporean, and Swiss investors who believe in the long-term potential of Sri Lanka. We are very impressed with the support of the BOI in the process to set up the investment companies.”

The project developer and operator expects to ground break within two to three months and the total development time is expected to be around 12 months.

“Sri Lanka has made great progress in building hotels and infrastructure. Now, Fantasy Island is the beginning of the next development phase of the tourism industry. We will provide a purpose-built, state-of-the-art family entertainment attraction to cater to international and local tourists and residents,” Melchers added.