CREDAI Chennai hosted a meeting between its members and representatives of Port City Colombo at the ITC Grand Chola in Chennai. The event aimed to introduce CREDAI Chennai members to the world-class development and provide exposure to its master plan.
Exploring Cross-Border Opportunities
The interaction held particular relevance due to Chennai’s strategic location near Colombo and the longstanding commercial and cultural ties between Tamil Nadu and Sri Lanka. This proximity offers Chennai-based developers and professionals a chance to explore the regional market and potential areas of engagement in real estate development, construction, design, and related services.
Members had the opportunity to interact directly with Port City Colombo representatives, gather information, and assess opportunities based on their business interests and priorities.
Distinguished Guests and Speakers
The event was attended by Mr. Thiru A.R. Rahul Nadh, IAS, Member Secretary of the Chennai Metropolitan Development Authority (CMDA), who delivered a special address. CREDAI Chennai office bearers, member developers, industry representatives, and Port City Colombo representatives also participated.
Mr. Mehul H. Doshi, President of CREDAI Chennai, stated, “Our goal was to showcase Port City Colombo to our members and government officials. Its master plan can serve as a model for Tamil Nadu’s planned AI city. This interaction allowed members to gather information and assess opportunities independently.”
Strengthening Cross-Border Ties
Mr. Thulci Aluwihare, Deputy Managing Director of CHEC Port City Colombo (Pvt) Ltd., emphasized Chennai’s importance as a starting point for this dialogue. He cited its proximity to Colombo and strong real estate ecosystem, highlighting the potential for cross-border investment ties and expressing interest in continuing the conversation.
Port City Colombo is a 269-hectare development along the main East-West maritime route, designed as a world-class international business and lifestyle hub. It is Sri Lanka’s first foreign currency-designated multi-services Special Economic Zone (SEZ) and the country’s largest public-private partnership project. The development aims to attract high-value Foreign Direct Investment (FDI) in sectors like financial services, IT, global trading, and maritime logistics.
With an estimated investment of $15 billion, Port City Colombo is expected to generate significant employment, knowledge transfer, and long-term economic growth for Sri Lanka.