The agreement in this regard was officially signed by Mr. Kiyoshi Yasuno, President, Belluna Co., Ltd and Mr. Stefan Abeyesinhe, Group Chief Executive Officer, Asia Capital PLC.
Belluna Co. Ltd will be partnering with Asia Capital for the development of 3 properties in Sri Lanka; an iconic resort hotel in Galle, a business hotel in Colombo 3 and a mixed development project in Colombo 2, and will in total invest over US$ 100 million for these 3 properties.
Asia Capital also announced that the company is working very closely with the Urban Development Authority, the Board of Investment and all other relevant parties to commence work on these projects as soon as possible and agreements with these bodies have already been signed.
Speaking about these new ventures Mr. Abeyesinhe said, “Strategic partnerships such as this are vital to the development of Sri Lanka’s tourism and leisure sector which we have identified as a high potential sector for development.
We warmly welcome high profile investors of the caliber of Belluna to our shores and look forward to a healthy partnership with them in the years to come.”
Commenting on their investments into Sri Lanka Mr. Yasuno said, “We strongly believe that this is great country to invest in due to its rapid economic growth, public safety and great national character.
It is also a country that is very friendly towards Japan.
We felt Asia Capital would be our ideal partner in these ventures as the team there is made up of highly talented and experienced individuals and the company has much prospects for growth.”
Established in 1968, Belluna Co., Ltd. operates in the mail order industry in seven segments:
General Mail Order, Specialty Mail Order, Retail Store Sales, Solution, Finance, Property, and Other and is headquartered in Ageo, Japan.
The driving force of Belluna’s success is its portfolio approach, which achieves a balance between growth and profitability.
The company possesses a comprehensive database and other management resources that have been cultivated through its mail order business, and has expanded into related fields to realise steady and continuous growth.
Asia Capital PLC is the largest investment bank in Sri Lanka to be listed on the Colombo Stock Exchange.
As a group, Asia Capital has identified strong potential in the property, leisure and real estate sectors and is focused on these avenues of growth.
However, while focusing on the leisure sector Asia Capital will continue to maintain its strong footing in investment banking operations.
