Port City Colombo’s First Residential Project Breaks Ground

Sri Lanka’s landmark urban development, Port City Colombo, has reached a major execution milestone as construction officially began on its first residential project. This marks a significant shift from preparatory regulatory work to active delivery of real estate within the Special Economic Zone (SEZ).

The new development, Bay One Residences Colombo, is being delivered by ICC Port City (Private) Limited, a subsidiary of the International Construction Consortium (ICC) — a local firm with a strong track record in large-scale projects. Situated on a 13,945 m² prime waterfront site, the US$112 million project will include 231 luxury apartments built to international standards, targeting both local and overseas buyers.

This groundbreaking event was attended by senior national leadership, institutional stakeholders, and industry figures, highlighting its strategic importance in activating the broader mixed-use vision of Port City Colombo as a world-class urban destination.

Source: https://www.dailymirror.lk/print/business-news/Port-City-Colombos-first-residential-project-breaks-ground/273-331324