CREDAI Chennai Presents $15B Port City SEZ
CREDAI Chennai hosted an interaction between its member developers and representatives of Port City Colombo on 29 September 2026 at the ITC Grand Chola in Chennai. The event was designed to introduce the Port City Colombo project to the Chennai real‑estate community and to provide exposure to a world‑class development that could present cross‑border business opportunities.
The programme was attended by senior officials including Thiru A.R. Rahul Nadh, IAS, Member Secretary of the Chennai Metropolitan Development Authority (CMDA), CREDAI Chennai President Mehul H. Doshi, and Mr. Thulci Aluwihare, Deputy Managing Director of CHEC Port City Colombo (Pvt) Ltd. CREDAI office bearers, member developers, industry representatives and Port City Colombo delegates were also present, allowing direct dialogue and information exchange.
Port City Colombo is described as a modern, master‑planned city spanning 269 hectares along the East–West maritime route. It is Sri Lanka’s first foreign‑currency‑designated multi‑services Special Economic Zone (SEZ) and the country’s largest public‑private partnership development project, governed by the Colombo Port City Economic Commission. The development is projected to cost approximately US$15 billion and aims to attract high‑value foreign direct investment. Targeted sectors include financial services, information technology and digital services, global trading, maritime and logistics, professional services, and regional headquarters operations. Upon completion, the project is expected to generate significant employment, facilitate knowledge transfer and contribute to long‑term economic growth for Sri Lanka.
CREDAI President Mehul Doshi highlighted that the master plan of Port City Colombo aligns with Tamil Nadu’s consideration of establishing an AI city, suggesting the Sri Lankan project could serve as a model for similar initiatives in India. Deputy Managing Director Thulci Aluwihare emphasized Chennai’s natural proximity to Colombo, the strength of the local real‑estate ecosystem, and South India’s importance as a market for Port City Colombo, expressing intent to continue dialogue and explore mutual investment interests.
The interaction provided CREDAI members with the opportunity to assess the development framework, regulatory incentives, and potential collaboration areas in real‑estate development, construction, design and allied services, based on their individual business priorities.