The Colombo International Financial City (CIFC) is a brand new city development built as an extension of the Central Business District of Sri Lanka’s vibrant commercial capital, Colombo. Spanning 269 hectares of reclaimed land from the sea, CIFC will be South Asia’s premiere residential, retail and business destination, offering unmatched planned city living along the warm waters of the Indian Ocean. The development will comprise of 5 different precincts including the Financial District, Central Park Living, Island Living, The Marina and the International Island.
When completed, the CIFC will have over 5.6 million square meters of built space, boasting the best in design and standards. Its lifestyle and business offerings will include world-class facilities and spaces in Healthcare, Education, Entertainment, Hotels and Restaurants, Retail and Office with an Integrated Resort and a Marina, offering the best in living by the sea.
Built on the latest sustainable city designs and smart city concepts by leading Swedish consultancy services company SWECO, the CIFC will be the most livable city in South Asia. It has already attracted numerous investment enquiries from all over the world. The land reclamation has been completed and once fully operational, expected to attract investment of USD 15 Billion with 83,000 new employment opportunities. The land sales at the Colombo Port City to prospective investors are expected to commence mid 2020 both the government and the project company are preparing to float tenders for land plots.
CHEC Port City expects around US$ 2 billion worth investments for the two building complexes envisaged at the Financial District. The company has already signed a memorandum of understanding (MOU) with the Sri Lankan government to develop a US$ 1 billion worth building complex at The Financial District, and is planning to draw another US$1 billion for the second building complex. The United State-based Skidmore Owings & Merrill (SOM) has already been awarded the design contract of the building after being selected the winner of a global competition to design the master plan for the first building complex. The second phase of the Port City, which is currently underway, includes the construction of highways, electricity, water systems and common amenities.
2018 : commencement of development work
2020 : initial infrastructure to be completed
2024 : Completion of the International Financial Centre
2026 : completion of the key areas
2041 : Target completion of the entirety of Port City
The CIFC Building Complex: Comprising retail, residential and office
Other Commercial: Banks, offices and retail, hotels and restaurants
Residential: Houses, apartment buildings, serviced apartments
Institutions: Healthcare, educational and R& D institutions
Small businesses: Retail shops, open air trading areas, beauty salons, bakeries, laundries, printing, small scale art and handcraft and other services such as cafes, kiosks, newspaper stands, food trucks and book shops
Entertainment: Amusement park, theatre & music
Community: Art galleries, community centres
Water Sports: Marina and related facilities
In addition, the Project Company will build public parks of 45 hectares of public parks and an artificial beach of around 3 km. No Industrial activities will be allowed within Port City.
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Video Link https://www.youtube.com/watch?v=ywtBQ9bfY0g