Hong Kong-based Shangri-La Asia Limited announced the purchase of six acres of government land facing the Galle Face green promenade, a prominent landmark in Colombo, Sri Lanka.  as per the company release, the development will be a multi-use complex with high-end retail facilities, deluxe apartments and a 500-key luxury hotel to open in early 2014.  The purchase marks the entry of the hotel group into Sri Lanka, often referred to as “The Pearl of the Indian Ocean.”

Shangri-La is also planning to develop a second property, a 300-key city resort on approximately 100 acres of land in Hambantota, on the southern coast of Sri Lanka, to open in 2013.

“Sri Lanka is a country of unsurpassed natural beauty, rich in cultural heritage, and above all it is well recognised for its warm and hospitable population.  The local government is fully committed to rebuilding the economy following the end of three decades of conflict and we believe that Shangri-La will be able to assist in positioning the country as a prime global tourist destination.  Both Shangri-La hotels strategically fit into the group’s ongoing expansion plans to link the Indian subcontinent and our South East Asia developments,” said Greg Dogan, president and chief executive officer of Shangri-La International Hotel Management Ltd.