Japan’s Belluna Company, which launched the ultra-luxurious resort, Le Grand in Galle with investment bank Asia Capital PLC recently, plans to invest more in real estate and hospitality projects in Sri Lanka.Belluna Japan Managing Director, Hiroshi Yasuno reiterated its commitment to forge new paths for both the local real estate and hospitality market with the confirmation of further projects in Sri Lanka valued up to US$ 500 million.
“Forming this alliance with Asia Capital PLC has been extremely beneficial for us being investors in a foreign country. Based on their reputation, history and standing in Sri Lanka, they have providef us with inroads into numerous projects, all that are sound investments, while also bringing us in contact with the best local partners to complete the projects,” Yasuno said.
Belluna Co., is a Tokyo Stock Exchange – First Section listed company, and a significant player in the global real estate industry.
Beyond Tokyo, the company’s investments in real estate span the rest of the globe from Myanmar to the U.S.A., including projects in Hollywood, Los Angeles, and now, Sri Lanka. Commenting on this Mr. Yasuno stated, “if you take into consideration today’s context, the investments made by Belluna Co. in Sri Lanka is almost equal to the investments made in USA., which is a direct indication of Sri Lanka’s potential.”
With the construction of a luxury condominium, 447 Luna Tower, on schedule for completion by 2020, together they are now beginning to focus on the next real estate development project –a Mixed Development Project in Colombo 1.
“At the moment, we are in the planning stage for our property in Colombo 1, for which we have already invested LKR 4 billion in order to acquire the land from the Urban Development Authority and hope to begin construction of this project, over the course of 2019 to cater to the current need the market has for urban living,” said Belluna Japan Managing Director, Yasuno.
In partnership with Asia Capital PLC, the company is also investing heavily in the hospitality sector and pland to open a 70-key leisure property in the Maldives soon, with leading global hospitality company, Marriot International Inc., while construction of a 300-room city hotel in Colombo has already begun.