The Hayleys group, Sri Lanka’s most diversified conglomerate and pioneer in value added exports, announced its latest venture, the ‘World Export Centre’, a state of the art ‘A’ Grade office Twin Towers, with 55 floors each, having 3.8 million square feet of commercial office space.
The Twin Towers will provide working space for 20,000 employees, with ample parking for over 2,000 vehicles, 3 floors of retail and office amenities.
The Company in a stock market disclosure informed the Colombo Stock Exchange that the Board of Directors of Hayleys PLC has approved in principle to initiate the Property Development Project at the premises situated at No. 400, Deans Road, Colombo 10.
The proposed new venture would be carried out via a newly incorporated Company, with 100% of initial equity investment made by Hayleys PLC.
The implementation of the proposed venture would be subject to receiving infrastructure development incentives offered by the Government of Sri Lanka in the recent past to similar development projects in the country and the Company obtaining all necessary statutory and regulatory approvals.
“This transformative project, the viability of which would depend on infrastructure development incentives offered by the Government of Sri Lanka similar to what has been granted in the recent past for similar developments, will enable Sri Lankan and global export oriented firms to house and exhibit their products and services in a single holistic location,” the company said in a release.