Global InformationPort City Colombo information
Port City Colombo
කොළඹ වරාය නගරය | |
|---|---|
| Colombo Port City | |
 An artist’s impression of the city at Galle Face | |
  Port City Colombo Location in Colombo  Port City Colombo Location in Colombo District  Port City Colombo Location in Sri Lanka | |
| Coordinates: 06°56′00″N 79°50′00″E / 6.93333°N 79.83333°E | |
| Country | Sri Lanka |
| City | Colombo |
| Area | |
| • Total | 2.69 km2 (1.04 sq mi) |
| Time zone | UTC+05:30 (Sri Lanka Standard Time) |
| Website | www |
Port City Colombo, (Sinhala: කොළඹ වරාය නගරය, romanised: Koḷam̆ba Warāya Nagaraya) is a multi-services special economic zone located in Colombo, Sri Lanka, which is currently under construction on reclaimed land adjacent to the Galle Face Green. The land reclamation work had been completed as of January 2019. In 2017, the cost was slated to be US$ 15 billion. Port City Colombo is a multi-billion-dollar FDI-funded Public Private Partnership (PPP).
Port City Colombo aims to facilitate connections to the South Asian market through investment opportunities, international business environments, world-class infrastructure, and high-quality sustainable living.
Upon completion, Port City Colombo will feature five distinct precincts: the Financial District, Central Park Living, Island Living, the Marina, and the International Island. The city will additionally encompass over 6.4 million square metres of new developments in residences, healthcare, education, entertainment, hotels, restaurants, retail, and commercial complexes.
In May 2021, the Parliament of Sri Lanka approved the Port City Commission Bill to establish the Colombo Port City Special Economic Zone and Economic Commission. Under this law, companies can be exempt from all taxes, personal, corporate, excise, import, and every other tax for up to forty years.