Urban Development Authority Chairman Nimal Perera has said that the Krrish Group chairman Amit Katyal has assured government authorities that the work on the ‘Krrish Square’ will be commenced soon.
Perera has said that according to Katyal, Ritz-Carlton Hotels of the US had agreed to partner this project.
“The Krrish Group owes the UDA another Rs. 640 million for the land. He agreed to settle all these payments before beginning work on the project,” he had added.
This 85 storied tower project with luxury homes, shopping complexes, a seven star hotel and an additional four towers raised a huge controversy during the recent past. The reason for the controversy included the inability of the Krrish Group to begin its construction work by the stipulated time period.
The UDA has offered the 04 acres and 37.10 perch plot of land where the Transworks Building in Colombo stands now bordered by Chatham Street, York Street and lotus Road, at a cost of Rs. 4,995 million to Krrish Group on a 99 year lease agreement.
This is considered the first foreign project by the Krrish Group.
Perera has said that according to Katyal, Ritz-Carlton Hotels of the US had agreed to partner this project.
“The Krrish Group owes the UDA another Rs. 640 million for the land. He agreed to settle all these payments before beginning work on the project,” he had added.
This 85 storied tower project with luxury homes, shopping complexes, a seven star hotel and an additional four towers raised a huge controversy during the recent past. The reason for the controversy included the inability of the Krrish Group to begin its construction work by the stipulated time period.
The UDA has offered the 04 acres and 37.10 perch plot of land where the Transworks Building in Colombo stands now bordered by Chatham Street, York Street and lotus Road, at a cost of Rs. 4,995 million to Krrish Group on a 99 year lease agreement.
This is considered the first foreign project by the Krrish Group.
Source: srilankamirror
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