Sri Lanka officially unveiled its largest private sector initiative on 2 August with the launch of City of Dreams Sri Lanka, a $1.2 billion project.
Situated in Colombo, the development is a collaboration between local giant John Keells Holdings and global casino group Melco Resorts & Entertainment. Touted as South Asia’s first integrated resort, it features two luxury hotels-Cinnamon Life with 687 rooms and the ultra-luxurious NÜWA with 113 rooms. The complex also includes a Melco-run casino, 17 restaurants, a premium shopping promenade, event venues, and residential units, aiming to create a full-fledged lifestyle and tourism destination catering to visitors from India, China, Russia, and the Middle East.
Speaking at the launch, Melco Chairman and CEO Lawrence Ho remarked that Sri Lanka has the potential to serve the Indian market much like Macau serves China, highlighting the country’s strategic location and political stability as key advantages for attracting high-spending tourists in a region lacking similar developments.
John Keells Chairperson Krishan Balendra emphasized that the project took over a decade to bring to life and involved contributions from more than 500 local professionals. He noted that Sri Lanka’s legal framework helped secure international investor trust, ultimately enabling the partnership with Melco. Balendra also called the resort a major step in establishing Colombo as a leading hub for entertainment, corporate events, and tourism.
