Belluna Co. Ltd, Japan and Asia Capital PLC Embark on a USD 54 Million, Four Star Hotel Joint Venture

Belluna Co. Ltd, Japan and Asia Capital PLC celebrated the groundbreaking ceremony of their joint venture on a USD 54 Million (over Sri Lankan Rupees 8.2 Billion), four-star hotel project in the heart of Colombo 03 on Marine Drive, further strengthening the partnership between the two companies. Among those present at the event held on 25^th April 2017 were Chief Guest His Excellency the Japanese Ambassador to Sri Lanka, Kenichi Suganuma, Secretary to the Ministry of Defence, Eng. Karunasena Hettiarachchi, Chairman of the Board of Investment, Upul Jayasuriya, representatives of the building partner Hazama Ando Corporation and the senior management of both Belluna Co. and Asia Capital.   “Belluna Co.’s off-shore expansion focuses strongly on emerging markets and we are pleased to be a part of Sri Lanka’s development drive’’, said the Managing Director of Belluna Co. Ltd, Hiroshi Yasuno.   “Our partnership with Asia Capital PLC at present encompasses five different projects. With Sri Lanka’s tourism and real estate sectors growing exponentially, we foresee many more such high value investments in the years ahead”.   Group Chief Executive Officer/ Director of Asia Capital, Stefan Abeyesinhe commented, “The prime location of the hotel is ideal for the new-age business traveller who seeks convenient access to Colombo’s Central Business District, coupled with the contemporary comforts of superior design and amenities. As business and leisure increasing converge, guests will find the location of the hotel a brief stroll away from the city’s vibrant restaurants, shopping areas, sight-seeing and more”. On the joint venture with Belluna Co., Stefan elaborated, “We are pleased to once again collaborate with Belluna Co. of Japan who holds decades of experience in real estate and hospitality. This project further cements the strong bond that our Companies have in creating local and foreign joint venture projects in Sri Lanka”.   The 300 room, four-star business hotel on Marine Drive will offer guests a choice of Deluxe and Superior Rooms, as well as spacious Suites with supreme features and panoramic views of the Indian Ocean and of Colombo’s city skyline. The infinity pool on the rooftop will have guests gazing at the sea as it unfurls beyond, whilst the rooftop bar is perfect for those who fancy an evening in an open air setting. The   hotels multiple restaurants offer a delectable blend of global cuisine whilst the blissful spa will serve as a serene retreat after a day in the city. With all this, to wow today’s savvy traveller, the hotel will also create uniquely Sri Lankan experiences and personal touches that leave a lasting impression.   In addition to this 300 room hotel, Belluna Co. Ltd, Japan and Asia Capital PLC have thus far collaborated on a series of luxury development projects in Sri Lanka and beyond. These projects encompass a 50 villa ultra-luxurious resort in Galle, for which the foundation stone was laid in October 2016; the ‘447 Luna Tower’ project – a 190 unit exclusive apartment complex being built in the heart of the city at Union Place and a further multi-development project in Colombo which is in the planning stages. Beyond the shores of Sri Lanka, Belluna Co. and Asia Capital are currently in partnership with the leading global hospitality company, Marriot International, Inc. and will open the ‘The Westin Maldives Miriandhoo Resort’, a 70-key luxury property focusing on wellness tourism in the near future. This collection of projects spells out the long term vision of the partnership between Belluna Co. Ltd, Japan and Asia Capital PLC.   (Standing from left to right)

1. Ryo Takarada, Chief Architect, The Range Design
2. Toshiaki Tanaka, Director, Asia Capital PLC
3. Stefan Abeyesinhe, Director/ Group CEO, Asia Capital PLC
4. Paul Ratnayeke, Chairman, Asia Capital PLC
5.  Eng. Karunasena Hettiarachchi, Secretary of Defense
6. Upul Jayasuriya, Chairman, Board of Investment
7.  His Excellency Mr. Kenichi Suganuma, Ambassador of Japan
8. Kiyoshi Yasuno, President, Belluna Co. Ltd. Japan
9. Hiroshi Yasuno, Managing Director, Belluna Co. Ltd, Japan
10. Hideo Matsumoto, Managing Executive Officer, Hazama Ando Corporation
11. Masaaki Hirawata, Project Manager, Hazama Ando Corporation

  (Standing from left to right) Managing Director, Belluna Co. Ltd, Japan – Hiroshi Yasuno, President, Belluna Co. Ltd, Japan – Kiyoshi Yasuno, Hon. Minister of Special Assignments, Dr. Sarath Amunugama, Group CEO/ Director, Asia Capital PLC – Stefan Abeyesinhe