Sri Lanka’s Government has officially opened the Canwill divestiture, inviting local and international investors to acquire its 100% stake. This strategic move targets high-profile hospitality assets in Colombo’s prime business district.
Government of Sri Lanka invites expressions of interest for Canwill Holdings divestiture
Sri Lanka Invites Investors for Canwill Holdings Divestiture
The Government of Sri Lanka (GoSL) has launched a high-profile divestiture of Canwill Holdings (Pvt) Ltd, signaling a major investment opportunity in the nation’s premium hospitality sector. Canwill, the parent company of Sinolanka Hotels & Spa (Pvt) Ltd and Helanco Hotels & Spa (Pvt) Ltd, is being offered through a transparent two-stage process coordinated by the Ministry of Finance, Planning and Economic Development, with Deloitte Touche Tohmatsu India LLP appointed as the Transaction Advisor.
Sinolanka: Colombo’s Landmark Hospitality Asset
Sinolanka represents one of the most ambitious hospitality projects in Colombo, located in the city’s Central Business District. Constructed to international five-star standards, the property features a towering 47-storey structure with 458 hotel rooms and 100 serviced apartments. Spanning 2.32 acres of prime oceanfront land, the property offers panoramic views of the Colombo Port City, Port of Colombo, Galle Face Green, Lotus Tower, and the surrounding emerald hinterland.
The superstructure of Sinolanka has already been completed, with the remaining fit-out and interior work to be finalized by the successful investor. Industry analysts say this asset could redefine luxury hospitality in Colombo, given its strategic location and world-class design.
Divestiture Process and Investor Guidance
GoSL will manage the divestiture in two stages. Interested parties are required to submit their Expression of Interest (EOI) through the official Request for EOI document, available on the Ministry of Finance website. The transaction is designed to attract both domestic and international investors, offering full transparency and compliance with global investment standards.
The divestiture of Canwill Holdings not only provides an entry into Sri Lanka’s hospitality sector but also aligns with the government’s broader economic strategy of enhancing private sector participation and attracting foreign direct investment. The inclusion of prime hospitality assets like Sinolanka and Helanco Hotels & Spa underscores the potential for significant returns and long-term value creation.
Helanco Hotels & Spa: Complementary Strategic Assets
While Sinolanka represents a landmark oceanfront project, Helanco Hotels & Spa adds complementary hospitality assets to the divestiture portfolio. These assets contribute to a diversified investment opportunity within Colombo’s vibrant tourism and hospitality market, which has been steadily rebounding post-pandemic.
Investor Opportunities in Colombo’s Premium Hospitality Market
Investors acquiring Canwill Holdings will benefit from multiple strategic advantages. Colombo’s CBD continues to experience robust commercial growth, driven by infrastructure development, international business expansion, and tourism recovery. The city’s prime oceanfront location and proximity to major economic zones enhance the potential for profitable operations in luxury hotels and serviced apartments.
Analysts predict that international brands and high-net-worth investors could find Sinolanka and Helanco particularly appealing, given the combination of landmark architecture, strategic location, and premium amenities. This divestiture also reflects the government’s commitment to optimizing state-owned assets while fostering private sector expertise in managing high-end hospitality infrastructure.
How to Participate
Interested investors can access the full Request for Expression of Interest document through the Ministry of Finance website. The government encourages early engagement to understand asset specifics, financial requirements, and regulatory compliance standards.
The divestiture of Canwill Holdings represents a rare opportunity to invest in one of Sri Lanka’s most prestigious hospitality portfolios. With global standards, strategic location, and growth potential, the assets are poised to deliver long-term value to the successful investor.