Mercantile Merchant Bank Ltd through its Pathfinder venture would be investing nearly Rs.600 million in a 40 acre hotel resort project on the Delft island off Sri Lanka’s northern shore, an official of the organisation said.
Currently the organisation was seeking approval from the Northern Province Land Commission in addition to other relevant authorities in a bid to get the project off the ground.
It was pointed out that Delft island was considered for this project since it was a good location that was secluded with a small population.
In addition, facilities would be provided for a small fixed wing aircraft to land there and depending on the demand, a sea plane could be used as well.
The state land was obtained on a 30 year lease agreement entered into with the authorities ensuring the development of the site.
Pathfinder officials believe that the 3-star resort could attract a number of Indians holidaying in Sri Lanka especially due to the proximity as part of the group travel and the MICE segment. It was noted that in a bid to attract the MICE market they hope to establish conference facilities in the resort environment.
The resort would comprise Dutch architecture in line with the prevalent nature in the area, it was noted adding that Pathfinder would entrust management to either a local or foreign company involved in the sector.