Maldivian company invests $3 million in new hotel in Matale, Sri Lanka

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A hotel project in Matale has been approved by the Board of Investment of Sri Lanka, and is being financed by a US$ 3 million investment from Maldivian-owned company, Alpha Kinam Holdings Lanka (Pvt) Ltd.

Set amongst the country’s central hills, the hotel will be known as Nichila Oya Resort and Spa. The property, which will be built in 15.3 acres of land, will offer guests 13 eco-style luxury suites, as well as 26 additional chalets.

This Maldivian investment will be managed by Mohamed Manik, an entrepreneur with almost 20 years of experience in the tourism and hospitality industry in the Maldives and Sri Lanka, the BOI stated in their press release.
The whole project is designed to provide tourists with the comforts of modernity while preserving cultural heritage, traditional outlook and a green environment within 140km of Colombo Airport.

“This hotel will have everything including private swimming pools to take tourists away from the hustle and bustle of city life yet retaining all the modern comforts. In addition to catering for the existing markets, it is expected to tap new markets, especially Europe,” the statement added.
The location and the surrounding of the hotel are best suited for an all-in-one tourism package.

The land surrounding the project will be developed into a bird sanctuary and the hotel operations will prioritise environmentally-friendly initiatives.
Board of Investment Chairman Upul Jayasuriya signed the agreement on behalf of the BOI and Alpha Kinam Holdings Lanka Director Muslima Abdul Gayoom signed the agreement on behalf of the company.

The project is expected to be completed within two years.

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