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JKH expands property business
24 June 2011 - Sri Lanka based John Keells Holdings(JKH) is to expand its property business with the acquisition of a six-acre site in a suburb on a key road to the international airport, north of the capital Colombo.
The Company is in the process of finalising the purchase of a site in Kapuwatte, Ja-Ela, which has excellent development potential as it is located adjacent to the Colombo-Katunayake airport road with a wide road frontage. JKH controls several up-market properties through its subsidiary Asian Hotels and Properties, which owns Crescat City in the heart of Colombo. This houses the five-star hotel Cinnamon Grand hotel, Crescat Boulevard shopping mall, a 30-storey luxury apartment complex called The Monarch, and a 35-storey luxury apartment complex, The Emperor. The Emperor project is nearing completion and the hand over of apartments is expected to start from August 2011.
Source: Lanka business online