Port City Colombo has moved from its primary reclamation phase to vertical development and commercial operation, with a projected US$15 billion investment pipeline and a $13 billion annual contribution to GDP once build-out progresses, a Finance Ministry official told the Sunday Times Business.
CHEC Port City Colombo (Pvt) Ltd recently secured $300 million to advance Phase II, covering more than 100 hectares of land, streetscapes, recreational areas and the commissioning of electricity, water and sewerage systems connecting to the main city grid. More than $1 billion has been committed to land development so far.
The special economic zone has drawn close to $900 million in fresh investment between November 2025 and March 2026, the official said. Transactions within the zone are now authorised in 16 designated foreign currencies. The number of registered companies has climbed to nearly 200, up from 146 at the start of the year.
Legislative revisions have streamlined approval for Businesses of Strategic Importance, introducing minimum investment thresholds and clearer tax exemptions. The Port City Economic Commission’s “Green Channel” can issue business licenses within seven days and visas for international professionals within five.
The 269-hectare reclamation — effectively Colombo’s first purpose-built offshore business district — is being positioned as a platform for high-value services aligned with Sri Lanka’s FDI strategy, the ministry said.
