The only full-service entertainment centre in Colombo, Excel World plans to construct a serviced apartment, shopping mall and leisure centre at an investment of a US$ 70 million, the latest annual review of the Browns Investments PLC outlines.
“This is a joint venture agreement with a Hong Kong based investment company and the second phase will include the construction of a mixed-development project within the same premises. This project is expected to be launched in the next financial year” the report notes.
Excel World features a host of exciting entertainment options for corporate groups and families, and the entertainment park offers Sri Lanka’s only twelve-lane bowling alley, the country’s largest token game centre, the ‘Keg’ pub and restaurant as well as sophisticated meeting and conferencing facilities, with plenty of space for parking.
According to Browns Investments PLC, Excel World has successfully maintained its position as Colombo’s most appealing entertainment complex, despite growing competition. The annual review notes that the company plans to continue its strategy of selective investment, mainly towards restructuring the complex to achieve international standards of quality and service; thus increasing the number of people visiting the park and increasing revenue.
Report further adds that the Park has also recently gained popularity in the important MICE (Meetings, Incentives, Conferences and Exhibitions) market and it is noteworthy that much of revenue in the year under review derived from this segment.
– Reporting by Devendra Francis