Sri Lanka has the potential to become for India what Macau is to China, according to Lawrence Ho, Chairman of Melco Resorts & Entertainment Ltd., as the Hong Kong-listed gaming and hospitality giant inaugurated its first South Asian property—City of Dreams Sri Lanka—in Colombo on Friday.
“Sri Lanka can be to India what Macau is to China,” Ho declared during the launch of the $1.2 billion luxury integrated resort, developed in partnership with Sri Lanka’s leading conglomerate, John Keells Holdings PLC.
“Macau remains the largest gaming market globally,” he added. “Colombo, being the closest major city to India, offers immense potential, especially with an integrated resort of this caliber.”
Decade-Long Project Comes to Life
The high-end development, over a decade in the making, features two luxury hotels, premium residences, adult gaming facilities, fine dining restaurants, a retail mall, and expansive event venues.
A star-studded grand opening ceremony is slated for tonight, with Bollywood icon Hrithik Roshan headlining the evening’s entertainment.
Targeting High-End Markets: India, Middle East, Russia, China
Designed to attract affluent international travelers, the ocean-facing property is aimed at markets including India, the Middle East, Russia, and China.
“Sri Lanka is ideally positioned as a gateway to key feeder markets,” said Krishan Balendra, Chairperson of John Keells Holdings. “India, in particular, is experiencing rapid growth in its affluent middle and upper classes. Leveraging our global expertise and property portfolio, we aim to attract high-end travelers seeking exceptional experiences in a unique destination like Sri Lanka.”
A Signal to Global Investors
Balendra emphasized that the scale of the City of Dreams Sri Lanka project sends a strong message to global investors that the country is back on track after years of political and economic instability.
“This $1.2 billion project is expected to create a powerful multiplier effect on the Sri Lankan economy,” he said. “Thousands of jobs will be created across sectors including construction, retail, technology, and hospitality. It also brings significant foreign direct investment (FDI).”
He noted that this is John Keells’ most ambitious undertaking yet, and expressed confidence in its impact on the country’s GDP.
“Today is not just the launch of a milestone development—it’s a defining moment for Sri Lanka. This is the largest private sector investment in the country’s history. It’s our declaration of belief in Sri Lanka’s future. Despite challenges from economic crises to the global pandemic, we chose to invest, not withdraw.”
Long-Term Commitment to Sri Lanka
Ho also shared his personal connection with the project, recalling his first visit to Colombo in 2013 when he was presented with the building’s renderings.
“We’ve built some incredible properties around the world, but this one seemed impossible at the time,” he said. “And today, we are standing inside this iconic structure.”
He described the development as a strategic collaboration aimed at elevating Colombo’s status among global cities, leveraging Melco’s proven expertise in luxury hospitality and entertainment.
“This project is about more than building a resort,” Ho said. “It’s about enhancing Sri Lanka’s global profile and contributing meaningfully to its tourism economy. Developments of this scale stimulate demand for local products, services, and talent.”
Resilience Through Adversity
Balendra recounted the project’s early days, noting that it was conceived as early as 2010, shortly after Sri Lanka’s decades-long civil war came to an end.
“We stayed committed despite numerous setbacks—the Easter Sunday bombings, the COVID-19 pandemic, and the economic crisis,” he said. “The relative stability we see today creates a timely opportunity to position Colombo as both a regional and global tourism hub.”
Legal Framework for Gaming Paves the Way
A formal legal framework for gaming, introduced in 2023, paved the way for Melco’s entry into the Sri Lankan market. The company has secured a 20-year license to operate adult gaming facilities within the City of Dreams complex.
Positive Early Indicators
Balendra also revealed that winter bookings across John Keells’ hotel properties—including the newly launched resort—are currently ahead of last year’s figures, suggesting strong early interest and momentum.
Melco Resorts & Entertainment operates world-renowned integrated resorts in Macau, Manila, and Cyprus. The City of Dreams Sri Lanka marks its first venture into the South Asian region.
