š BOI Signs US$ 5.1 Mn Agreement with Vella to Expand 98 Acres Resort & Spa
The Board of Investment of Sri Lanka (BOI) has signed a landmark US$ 5.1 million agreement with Uva Greenlands Estate (Pvt) Ltd (part of the Vella Group) to transform the 98 Acres Resort & Spa in Ella into a global ultra-luxury benchmark. ā¢ Investment & Timeline: A US$ 5.1 million transformation project to be executed across two phases over a 36-month period. ā¢ Economic & Regional Impact: The expansion is set to generate approximately 150 direct employment opportunities, driving economic growth in the Uva region and supporting Sri Lanka's high-value tourism economy. ā¢ Strategic Context: This marks the second BOI venture for the Vella Group, following their successful Ravana Pool Club in Ella. The project aligns with national efforts toward experiential, sustainable luxury hospitality to enhance global competitiveness.