LankaEstate Newsletter Issue #4 / May 2012

‘ – Sri Lanka Real Estate & Investment News / May ’12

The Sri Lankan Oil Deposits

LankaEstate Exclusive

Sri Lanka is an island paradise filled with a multitude of natural resources. The bounty of natural resources found within Sri Lanka include, hospital Phosphate, Lime Stone, High quality Iron ore, Gems and much much more. The latest Addition to this abundant list is Crude Oil. Even though there have been no Oil or natural gas deposits that have been discovered within the territory of Sri Lanka to date, experts and scientists claim that Sri Lanka may  have potential oil deposits lying off shore in the Mannar basin and parts of the Cauvery Basin that is under Sri Lankan Jurisdiction. The search for Crude or Black gold in Sri Lanka dates back to the era of  Mrs. Sirimao Bandaranaike who was holding power in early 1970s.

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World Bank Arm Considers Funding Sri Lanka Waste-to-Energy Plant
The World Bank’s private-sector financing arm is considering $9 million in debt and equity funding for a project in Sri Lanka that will sell electricity produced from burning municipal waste.
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Sri Lanka thanks China for continuing investment flow
Investments from China to Sri Lanka are set to continue on an increasing trend. “Your tenure in Colombo was marked with achievements.
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Hilton Colombo invests in new look to cater to future demand

HILTON Colombo, armed with a US$45 million renovation plan, is the latest among five-star properties in Sri Lanka to spruce up its hardware in anticipation of 2.5 million visitors by 2016, a bold target set by the country’s tourism authorities.
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SL’s largest shopping mall to begin construction later this year 
A property development comprising what is anticipated to be Sri Lanka’s largest shopping mall will start construction later this year, according to Singaporean property tycoon S.P. Tao, the non-executive Chairman of Overseas Realty, the property’s developer.
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Colourful lanterns to brighten Vesak
Have you heard about a Vesak lantern manufacturer who sold some Vesak lanterns to a foreign tour group at a cost of Rs. 1,500 each. The medium size lanterns were made in the shape of lotus flowers and pasted with colourful oil papers and cellophane papers.
[Read more]

Cheers, team