Singapore’s Kreate Design to rent out floor space at Lotus Tower for casino and other entertainment purposes

21 November 2022 12:55 am Views - {{hitsCtrl.values.hits}} 12 Bookmark

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From left: Dr. Arosha Fernando - Coordinating Secretary to State Tourism Ministry, Diana Gamage - State Tourism Minister Cyntia Chan - Business Development Director of Kreate Design Pte Ltd of Singapore and Major General Prasad Samarasinghe - CEO of Colombo Lotus Tower Management Company Pvt Ltd

Lotus Tower Management Company (Pvt) Ltd (LTMC) last Friday entered into an agreement with Singapore-based renovation and interior design company Kreate Design Pte. Limited to lease out one floor of the tower base of the Lotus Tower for a casino and entertainment area, including water sports.

LTMC is expected to receive US$ 1.4 million a year for the leasing out the floor consisting of 44, 000 sq.ft. However, during a media conference held on Friday to sign the agreement, Tourism State Minister Diana Gamage said the investment would bring in US$ 1 billion over the next three years. But she failed it back up the figure with any evidence.

“This will enable Colombo Lotus Tower as a hub to develop trade, investment and tourism activities between Singapore and Sri Lanka,” Gamage said. A statement issued following the media briefing claimed a fully-fledged casino and an entertainment area including water sports will be developed at the Lotus Tower within the next six months.Under the terms of the 10-year agreement with Kreate Design, LTMC will receive a six month refundable deposit and the company is to begin operations from next April. There will be a 10 percent increment on the lease every two years.

Comments - 12

D T Monday, 21 November 2022 08:36 AM

This Chinese built tower is going to generate lot of wealth to Sri Lanka and this is going make SATAN INDIA very jealous. Now the Americans have abandoned India and joined China, so the SATAN INDIA would not even dare to think about sabotaging the Lotus Tower. Sri Lanka: 1 China: 1 USA: 1 India: 0

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Ganu denu Monday, 21 November 2022 04:02 PM

Wish, all the foreign debts can be repaid at the earliest. How long can the CB tell the creditors 'Passe Dennam'

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Jude Monday, 21 November 2022 09:20 AM

Along with casinos comes expensive prostitutes, drug dealers, More croked politicians etc. Yeah!!

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NIghtOwl Monday, 21 November 2022 09:35 AM

This is a shell company with less than 10 employees. LIkely to be saga than real. lets wait and see

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Sunil Monday, 21 November 2022 09:39 AM

"Casino". The very word smells of sin and nefarious activities. Who else but a dastardly lady can be full of smiles when betraying the assets of the nation for sin industries that will certainly horrifically harm our culture in years to come? Let this country earn its wealth by rightful ways.

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Jason Monday, 21 November 2022 11:37 AM

Kreate Design Pte. Limited website is really badly done. Website is built using Wix which is generally wouldn't be used by well established organisations. Domain was first registered in Domain Name: KREATEDESIGN.COM.SG Creation Date: 22-May-2018 15:54:56 Modified Date: 20-Apr-2022 13:34:09 Expiration Date: 22-May-2023 15:54:56 Administrative Contact: Name: LEW HON HOONG (SGNIC-PER20233187)

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Lion Monday, 21 November 2022 02:31 PM

This is like a drop of water compared to an ocean

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Bandara Monday, 21 November 2022 04:57 PM

Hey DT, every where the Chinese have gone the country has been ruined, SL is no exemption, with wasteful proejcts like Hambantota Port,Airport, Stadium and Port City which has not and will never eran anything other than being a burden on the tax payer to return. Show me a single country where Chinese investments have created properity for the locals

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Disgusted Monday, 21 November 2022 06:22 PM

I guess none of you have read about Crown Casino in Australia, go have a read. Casino's are also a place where transactions of money laundering, prostitution, drugs and the likes take place. Dirty money can be turned into clean cash. I know nothing about this Singapore company, so I cannot comment, they may be honourable, but we have that many dishonourable individuals in government and high places who will eventually call the shots and get rich in the process. The country needs a independent commission or independent body to monitor the Casino's operations.

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Gamini Monday, 21 November 2022 09:13 PM

44.000 sq ft is a bit over one acre (43560sq.ft/ac). Is it possible to have one acre of area in one floor? We have heard these fairly tales lately. Disneyland, 1 million Chinese tourists in 2023, 1 b US$/mo from remittance, 4.2% inflation next year from the current 70% in a country where the Rupee has depreciated around 8.5% /year for 40 years, stronger rupee. Pure fantasy!

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Lampriya Palangodage Tuesday, 22 November 2022 12:25 AM

Gon Diana is still laughing and destroying the country! Cultivating Ganja; now Casino; then prostitution lead by Gee Kum and Dian Gam - Selling fast to Mynas!!

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Moh Sleiman Tuesday, 22 November 2022 06:20 AM

I just cant Believe that SRI LANKANS Are so damn stupid to believe DIANA GAMAGE storey,44.000Sq ft space in the first floor of a Building it is one acre of a land,This woman is nuts,she has not gone further than 8th grade,Yes with the casino,she should introduce high class protitutes for the Politicians,she will do great.

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