Colombo’s Port City to feature Big Ben-inspired Grand Clock

21 July 2025 11:22 am Views - {{hitsCtrl.values.hits}} 12 Bookmark

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A large-scale project is planned for construction in Port City Colombo, with an investment of over USD 540 million. The development aims to feature what could become the world’s largest art piece, complete with a 15-metre Grand Clock inspired by London’s Big Ben, and is expected to be submitted for recognition by the Guinness World Records.

The project, named Clothespin Towers, is one of four major developments in the Port City that have received tax exemptions from the Sri Lankan government. These include relief from income tax, VAT, Customs duties and other levies for up to 25 years, according to recent government gazette notifications issued by President Anura Kumara Dissanayake in his role as Minister of Finance.

The Clothespin Towers project, led by Clothespin Management and Development (Pvt) Ltd., will feature twin towers housing luxury apartments, a seven-star hotel, retail outlets and premium office space. One of the towers will host the world’s largest vertical art gallery, with every floor serving as a unique art exhibition space showcasing global artists and hosting world-class events.

The developers plan to spend over USD 540 million, including USD 75 million for land leasing and the rest for construction and setup.

The project will also generate around 280 jobs in its first year alone.

Alongside the Clothespin Towers, three other large-scale projects have been granted similar tax breaks.

ICC Port City (Pvt) Ltd. will build two luxury apartment towers and five high-end villas on 13,945 square meters of land.

IFC Colombo 1 (Pvt) Ltd., backed by China Harbour Engineering Company, plans to develop a mixed-use space combining residential, commercial, and retail facilities. The company plans to invest around USD 143 million, with nearly USD 95 million going into construction.

Ceylon Real Estate Holdings (Pvt) Ltd., part of Browns Investments and the LOLC Group, will create a large-scale commercial and residential complex on over 30,000 sqm. The project includes office space, retail areas, and luxury apartments, with a total investment of over USD 411 million, plus additional land costs.

Comments - 12

slcitizen Monday, 21 July 2025 12:37 PM

Capitalism is the way to go even in red shirts.

3 12

Realistica Adams Monday, 21 July 2025 02:08 PM

I didn’t see in any RED when I read the election manifesto. Probably you live in Elova, from where people buy lands.

4 7

JeffK Monday, 21 July 2025 03:01 PM

Did you hear any RED when he promised to scrap the port city project accusing money laundering?

0 0

Zarook Tuesday, 22 July 2025 04:36 PM

Ask Basil's malli deal Wasantha Pachasinghe.

0 1

Better late than Never Monday, 21 July 2025 03:02 PM

If the current lot didn't lie and corrupt people's brains this project would have been 5 years ahead.

1 2

The Steck Monday, 21 July 2025 03:05 PM

Maybe a tad too grand and overly ambitious?

0 1

Sis Tem Chang Tuesday, 22 July 2025 07:00 AM

I remember a few years ago BOI announced Asia's tallest office tower was going to be built in Colombo . BOI chairman resigned after he realized it was a hoax.

0 1

P Kunchithapathan Monday, 21 July 2025 03:26 PM

What became of the much-anticipated cable car project near Kandy? Blessed as the region is with majestic mountains, breathtaking valleys, meandering rivers, and cascading waterfalls, it presents an ideal setting for such an initiative. Integrating this location with a monorail system and expressways—complemented by ample car parking facilities—would significantly enhance accessibility, drawing both tourists and locals alike. A cable car project in such a setting is not only desirable but long overdue for our country.

0 2

Pethi. Monday, 21 July 2025 04:02 PM

Development from South to North and West to East is paramount to lift up Sri Lanka.

1 1

Realistica Adams Monday, 21 July 2025 05:18 PM

This is great for SL if it goes ahead. FDI is difficult in these times particularly with our bankrupt economy that was left behind by abusers of power. Hope it succeeds.

0 3

Umar Perera Monday, 21 July 2025 05:58 PM

Why be a copycat (Big Ben) in a project that is supposed to promote creativity?

0 2

Jess Monday, 21 July 2025 08:18 PM

It's like a cruel joke building the largest clock in a country where punctuality is an afterthought. And the colonial mentality seems to run deep in copying Big Ben.

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