Listed construction group Access Engineering PLC (ACCE.N0000) has recapitalised its wholly-owned subsidiary Harbour Village (Pvt) Ltd with Rs. 8.5 billion ahead of the soft opening of Marina Square, the retail and hospitality complex taking shape inside the Colombo Port City special economic zone.
The capital injection is one of the largest single commitments by a listed Sri Lankan company to a Port City project to date and signals that Access Engineering is moving decisively from pure infrastructure contracting into real estate development as a core revenue stream.
Harbour Village was converted into a fully-owned Access Engineering subsidiary in 2025 after the parent company consolidated its shareholding. Marina Square is being developed as a waterfront mixed-use destination anchored by retail, dining and entertainment outlets, with a soft opening planned as commercial tenants begin fit-outs.
Colombo Port City — the 269-hectare reclaimed financial zone — has been under pressure to show visible commercial activity after years of infrastructure build-out. Marina Square is among the first large-format retail projects inside the zone to reach operational phase, and its opening will be closely watched by other investors weighing Port City commitments.
Access Engineering’s pivot comes as its traditional highways and water-infrastructure order book has narrowed, with the government slowing new road contracts under the IMF-backed fiscal programme. Real estate and concession-based revenue streams have become a strategic hedge, and the Harbour Village injection is the clearest indication yet of that shift.
The company has not disclosed the structure of the Rs. 8.5 billion — whether as equity, shareholder loan or mixed instrument — but the size of the commitment points to near-term working capital needs as Marina Square moves into operations.
