U.S. hospitality company Clarion Hotels plans to construct a mixed development project, Clarion City Kiribathgoda, in Sri Lanka with 2.1 billion Sri Lankan rupees ($11.5 million) investment.
The Clarion City complex, which will be constructed in three phases, will comprise of a luxury hotel and apartment complex with an initial commitment of $3.8 million in its first stage.
The second phase of the project will consist of offices and apartments and the third stage a modern shopping complex.
The initial stage, expected to be finalized by 2021, will consist between 35 to 40 apartments and the whole Clarion City project is scheduled to be completed by 2025 on 80 perches of land.