Lee Hedges PLC on Monday said they would build a car park building and a commercial development above the car park on a freehold land in Colombo 3.
The company said the car park of the project, which has two phases, will be built first with an investment of approximately Rs.1.1 billion.
The project is expected to span over 12 months and will have 186 parking slots in six floors.
A stock market disclosure said the project will be financed by the company.
Lee Hedges last year completed the construction of a 12-storey office complex with an investment of Rs.1.3 billion on a land owned by the Urban Development Authority in Colombo 3 with Galle road frontage. The commercial operations of the building began on March 1, 2018.