Vella Signs USD 5.1 Million Agreement with BOI Sri Lanka to Transform 98 Acres Resort & Spa

A visionary expansion focused to position Ella and 98 Acres Resort & Spa on the World Map as A Global Luxury Benchmark.

Colombo, Sri Lanka Uva Greenlands Estate (Pvt) Ltd has signed a landmark agreement with the Board of Investment of Sri Lanka (BOI) on 29th May 2026, marking a defining milestone in the evolution of 98 Acres Resort & Spa, Sri Lanka's celebrated luxury retreat nestled in the breathtaking highlands of Ella.

The transformative USD 5.1 million investment will unlock a bold new chapter for 98 Acres Resort & Spa, redefining the boundaries of ultra-luxury hospitality in Sri Lanka and cementing the island's reputation as a premier destination for discerning global travellers.

Set to unfold across two phases over 36 months, the expansion will create approximately 150 direct employment opportunities, generating meaningful economic impact for the Uva region and reinforcing Sri Lanka's standing as a high-value tourism economy.

This marks the second BOI project under the Vella Group’s travel and tourism sector, further solidifying the growing presence in Sri Lanka's luxury tourism landscape.

Group’s first BOI venture, the acclaimed Ravana Pool Club in Ella, is an award-winning landmark setting a compelling benchmark for experiential hospitality celebrated on the world stage.

With the upcoming expansion of 98 Acres Resort & Spa, the Group is poised to build on that success, once again raising the bar for world-class tourism in Sri Lanka.

Eranda Abeyratne, Director and Co-Founder of Vella, captured the vision behind the investment

"We believe it is our shared responsibility to elevate Sri Lanka's tourism industry to the next level.

This investment reflects our commitment to introducing a new era of refined luxury and world-class hospitality creating greater value for the industry and the country, while redefining what destination hospitality truly means in Sri Lanka."

The expansion is a testament to Vella Group's unwavering long-term vision: delivering immersive, experience-led hospitality that is globally competitive yet deeply rooted in Sri Lanka's extraordinary natural beauty and cultural identity.

With this agreement, Vella Group and BOI Sri Lanka signal a shared ambition to position the country not merely as a tourism destination, but as a benchmark for sustainable luxury hospitality in Asia.

About Vella Group

Vella Group is a diversified Sri Lankan conglomerate with interests across hospitality, adventure tourism, tea, retail, leisure and lifestyle-led experiences.

Its portfolio includes Sri Lanka’s most distinctive destinations and brands, including 98 Acres Resort & Spa, Walaa Kulu, Villa le Maas Tota, Flying Ravana Adventure Park, Ravana Pool Club, Kiri Kopi Cafés, Uva Halpewatte Tea Factory, Halpe Tea Exports and Ceylon Tea Supermarkets.

Rooted in experience, innovation and people-led growth, Vella Group continues to create unique experiences from Sri Lanka to the world.

Photo caption from left to right - Ranga Abeyrathne – Co-Founder/ Director, Eranda Abeyrathne - Co-Founder/ Director, Dr. Sulakshana Jayawardena-Actg. Chairman, Mrs. Renuka Weerakone - Director General.