Grand Hyatt Colombo new real estate development in Sri Lanka


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  Grand Hyatt Colombo

Grand Hyatt Colombo
Location:  Colombo 3 (near Galle Face)
Property Type:  Hotel & Luxury Apartments
Developer:  Canwill holdings Limited (Govt owned) & MAGA
Number of units: 475 guestrooms and 84 serviced apartments
Number of floors: 47 Completion date: late 2017

Details:

Formerly Ceylinco Celestial Residencies

01/07/2015: More controversy builds around Sri Lankas Hyatt project
http://newsfirst.lk/english/2015/07/more-controversy-builds-around-sri-lankas-hyatt-project/102278

08/07/2012: Hyatt Regency hotel coming to Celestial Tower after ownership handed over to new company. Construction to resume soon.
http://lankapropertywatch.blogspot.co.uk/2012/07/hyatt-regency-hotel-coming-to-celestial.html

Will include Hyatt Regency Hotel
** The work on this project may have been temporarily halted due to financial difficulty for the developer and government orders due to security concerns.**

26/07/2010: Major Ceylinco assets worth over Rs.42 billion to be sold to repay depositors
"Celestial Residencies, is to be sold soon at a price of USD 75 million (approximately Rs.8.2 billion) or above in a bid to make repayment for disgruntled depositors of failed Ceylinco Shriram group which has invested around Rs. 1 billion for the 45 storied building project. The Committee of Chartered Accountants headed by Prof. Lakshman R. Watawala, under a directive of the Supreme Court, publishing news paper advertisements has called for investors to invest in Celestial Residencies."
http://sundaytimes.lk/100725/BusinessTimes/bt45.html

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