City of Dreams, a $1.2-billion integrated luxury resort and casino, has launched in Colombo, marking South Asia’s first project of its kind. Developed by John Keells Group in partnership with Melco Resorts & Entertainment, the property is intended to strengthen Sri Lanka’s position in the high-end tourism and gaming market.
Signalling Global Investor Confidence
“It is not just about buildings. It is about building confidence. It is about rewriting narratives, that Sri Lanka is a place of opportunity. It is about showing the world, and ourselves, that we can compete, we can lead, and we can dream big again,” John Keells Group chairman Krishan Balendra said at the unveiling.
The development is expected to generate jobs in construction, hospitality, technology, retail and related sectors. John Keells Group expects revenue from hotel operations, banquets, restaurants, retail leasing, office space and apartment sales. Balendra said the project’s scale signals to global investors that Sri Lanka is “open, stable and investable”.
Lawrence Ho, chairman and CEO of Melco Resorts & Entertainment, said Sri Lanka’s location gives it access to important feeder markets.
“Sri Lanka is perfectly positioned as a gateway to key feeder markets, including India, China and Russia, with India in particular showing tremendous growth in its affluent middle and upper classes,” he said. “Sri Lanka could become to India what Macau is to China, a premier gaming and entertainment hub.”
Colombo’s proximity to India, Ho added, strengthens its potential as a destination.
Raising Gaming Standards and Local Talent Development
On gaming regulation, Balendra said Melco’s entry would help raise industry standards. “Before the regulations were gazetted, there was no proper framework,” he said. “We wouldn’t have brought in a world-class operator like Melco without one. Their gold-standard compliance in other jurisdictions will now set the benchmark in Sri Lanka.”
Melco will also oversee training and development for Sri Lankan staff in gaming and hospitality. “Supporting local talent development and creating meaningful career opportunities for the Sri Lankan workforce will be a key focus,” Ho said.
Bookings are rising, Balendra said, with the winter tourism season expected to outperform last year. Alongside its hotel and casino, the complex includes event and MICE (meetings, incentives, conferences and exhibitions) facilities, residential units and office space.
The correspondent was in Colombo at the invitation of City of Dreams Sri Lanka
