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Prime Galle Port real estate for yacht marina project, SLPA to lease to pvt. investor 

14 Feb 2021

  • Up for grabs for foreign/local proposals 

  The Sri Lanka Ports Authority (SLPA) is planning to lease out a plot of land worth millions of rupees at the Galle Port to a private investor for a proposed yacht marina project, The Sunday Morning learnt.    In a letter written to the Chief Valuer in September 2020, SLPA Director (Technical) Susantha Abeysiriwardena had stated that a plot of land at the Galle Port owned by the SLPA is scheduled to be leased out for the yacht marina project. He has also requested the Chief Valuer to provide a complete lease assessment report for the proposed plot of land of 2.5 hectares at the Galle Port including the already existing area of the yacht marina for the yacht marina investment project.    In response to the SLPA’s letter, the Southern Regional Office of the Department of Government Valuation, in a letter written to the SLPA Director (Technical), had estimated the annual lease amount of the land proposed to be leased out for the yacht marina project at Rs. 73,700,000.    As per the plan prepared by the Registered Licensed Surveyor of the SLPA S.R. Illeperumarachchi on 17 February 2020, the plot of land proposed to be leased out contains the port of the new quay, yacht marina quay wall, the open waste land, the sea, and the yacht harbour.    Furthermore, as per the details provided in the request for proposals (RFP), the Galle marina concept plan includes the reservation of green outdoor space for families including the provision of public use picnic tables, shaded areas, barbeque areas, and a children’s playground. Onsite restaurants and other hospitality at yacht marinas are expected to add revenue potential and transform the site from a storage site to a tourism precinct for both domestic and international land-based tourists. Also, the project aims to develop the marina that is connected to bars, cafés, and restaurants for socialising after boating as well as some small-scale tourist retention activity. The members’ yacht club, under this concept plan, would also host its own members-only dining and bar/café facilities while meeting rooms at the yacht club could also be rented for business functions and events.    Once completed, the marina will have a space to wet and dry store a total of 95 boats. However, the actual percentage of berths in the new marina will depend on the marina layout.    When contacted, SLPA Chairman General (Retd.) Daya Ratnayake told The Sunday Morning that the investors for the proposal have not yet been finalised and that the project would be a small-scale project which would cost around $ 50 million.  When queried as to whether the investor would be a local or foreign investor, the Chairman noted that the RFP called for both local and international investors. Previously, a Saudi Arabian investor, Hadi Al Hammam, stepped in to take on the proposed development of the Galle marina through its Sri Lanka-based company three years ago, but the project did not take off.    Since the Galle Harbour area is recognised as a United Nations Educational, Scientific, and Cultural Organisation World Heritage Site, all development would have to be done safeguarding cultural interests.


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