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Rs. 2 billion private sector leisure and real estate investment in Pinnawela
The Island
|November 01, 2025
Marking a major milestone for both the hospitality industry and the regional economy, construction has already commenced on Elephant Vast Resort - the first luxury boutique apartment-cum-hotel complex in the Pinnawela area.
Model house earmarked to come up in the Pinnawela leisure sector investment.
The project represents an investment exceeding Rs. 2 billion, making it the largest private sector leisure and real estate investment in the region.
The main investor, Dr. H. Ratnayake, has allocated a 14.5-acre site for the development and has already invested approximately Rs. 300 million to initiate construction.
Project Consultant and Chairman of Ariel Assets Real Estate Development Strategies, Architect Ranga Soysa, said the first set of apartments is expected to be completed by the end of next year.
This story is from the November 01, 2025 edition of The Island.
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