JKH to delay Cinnamon Life project

29 January 2016 05:07 pm - 8 - {{hitsCtrl.values.hits}}

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Sri Lanka’s premier blue chip John Keells Holdings PLC (JKH) said the completion of the Cinnamon Life project, previously Waterfront, would be delayed till 2019.

Previously the project was slated to be completed in 2017.

John Keells Chairman Susathan Ratnayake said the US $ 850 million project had seen some “unforeseen delays” and would be completed only in 2019.

For the December quarter (3Q16), JKH saw its net profit falling 10 percent to Rs.3.9 billion over the same period of the previous year.

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Comments - 8

Amila Friday, 29 January 2016 11:08 PM

No big loss, considering this looks likely to be one of the ugliest buildings in Colombo!

Top Cat Saturday, 30 January 2016 07:53 AM

Anyway, life is like that!!

Moda Hrsha Saturday, 30 January 2016 08:15 AM

Now economy slow down, Pandith Harsha has given bone to suck

Giabao Saturday, 30 January 2016 08:34 AM

I think they should change the building design. Otherwise it will also be included in the list of ugliest buildings in the world like many of projects by the same architect.

BanisMama Saturday, 30 January 2016 09:05 AM

The land should be acquired by the government and either use for the megapolis project or build house for the displace during the MaRa regime.

Saranga Saturday, 30 January 2016 09:33 AM

What right gov have to acquire a privately held land?

BanisMama Saturday, 30 January 2016 10:59 AM

This project is on government land and the poor people was evicted at short notice.

Kale Saturday, 30 January 2016 11:47 AM

BanisMama, Keells own the land and have owned it for a very long time. It was not housing, so no one was evicted. Get your facts right before you speak.

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JKH to delay Cinnamon Life project

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