Colombo Lotus Tower Management Private Company

Introduction

The Colombo Lotus Tower project was commenced on 16 November 2012 as a Design and Execute couture project. Although the project was proposed to be completed in 912 days, the project completion certificate was issued on 28 February 2022. The ownership of the Colombo Lotus Tower project is held by the Telecommunications Regulatory Commission of Sri Lanka.

The Cabinet of Ministers has authorized the Treasury to establish Colombo Lotus Tower as a new company under Cabinet Decision No. 21/1736/331/011 dated 12th October 2021, Accordingly, with the appointment of a Board of Directors for the Colombo Lotus Tower, it was registered as a Colombo Lotus Tower Management Private Company under the Companies Registration Act No. 07 of 2007 under No. PV 00252719 on February 03, 2022.

 

Thereafter, the Colombo Lotus Tower Management Company (Pvt) Ltd opened the “Lotus Tower” for public view from 15.09.2022. Our objective as a private Company is to carry on businesses as a commercial operator and to create, promote and manage businesses. Furthermore, it has been planned to develop and manage tourist-oriented program and to lease out the showrooms built in the Lotus Tower.

Therefore, Colombo Lotus Tower Management Company ( Pvt.) Ltd has made all arrangements to identify potential partners for the commercialization of Colombo Lotus Tower as per a business plan. Accordingly, the Colombo Lotus Tower Management Private Company Limited has appointed a committee consisting of professionals to recruit the identified partners on a rental basis and has already prepared the necessary arrangements. All required arrangements have been made to cater for indoor and outdoor events. To generate income by utilizing the constructed buildings- it has an area of ​​12,288 square meters, and its predicted full year revenue is around 680 million.

Objectives of the project
  • To maintain as an integrated communication center
  • To maintain as a leisure and entertainment center
  • To earn foreign exchange by improving tourist attraction
  • To maintain as a cafeteria
  • To use as an observation center
  • To facilitate various events and conferences
In the “Lotus Tower”, Colombo,
  • Innovation Centers.
  • 9 D cinema.
  • e- sports arena
  • Digital art museum
  • Digital banking.
  • The revolving restaurant.
  • Banquet halls.
  • Cafeterias
  • Open restaurants and leisure areas.
  • Interactive photo booths.
  • Observation Desk.
  • Conducting exhibitions and events.
  • Conducting “Bungee Jumping” games.
The progress from 01/01/2022 to 09/30/2022 is as follows.
  • Physical and Financial Progress as at September 30, 2022.
  • Draft financial summary from March 2022
  • Total revenue – 77.9 million
  • Expenditure    – 45.0 million
  • Profit              – 32.9 million
Benefits of projects / programs / activities and No. of beneficiaries
  • From 01/01/2022 to 09/30/2022, 90,467 persons have come to visit the Lotus Tower, of which 166 are foreigners.
  • The total revenue obtained is about 41.9 million.
Special activities accomplished / initiated in 2022.

Lotus tower was declared open for public view from 15.09.2022.

Procurement

For installation of LED panels/LEDTV/ LIGNT BOXOS installed in the institute 58.5 million

To purchase computers and accessories for marketing activities – 4.3 million

Future plans
  • Available Square Feet for rent – 115,011
  • Number of cabins available for rent – ​​46
  • Commencement of businesses by renting all the above locations by 2023