IFC Colombo 1 (Pvt) Ltd gets a 25-year tax holiday
- CNL Reporter
- July 21, 2025
- News
- tax holiday
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Sri Lanka has given a 25-year tax holiday, and the next 10 years at half the rate, to IFC Colombo 1 (Pvt) Ltd, which will develop a mixed use plot in the Colombo Port City.
IFC Colombo 1 is a unit of CHEC Port City Colombo (Pvt) Ltd, which in turn is owned by China Harbour Engineering Company and China Communications and Construction Company Limited of China.
CHEC Port City is the company that reclaimed the land for Colombo Port City.IFC Colombo 1 will invest 142.71 million dollars. A tranche of 94.98 will go to construction and preliminary costs and 47.73 million for land which will raised from foreign sources.
“The objective behind establishing IFC Colombo 1 (Pvt) Ltd. is to carry out real estate development within the Colombo Port City, with a vision of creating a thriving and sustainable real estate ecosystem by strategically integrating commercial, retail, and residential elements,” a gazette notice detailing the tax holidays said.
