Galadari Hotel Ups Colombo Refurbishment Investment to US$ 48.5 Mn 📈

• Galadari Hotels (Lanka) PLC has entered a supplementary agreement with the BOI to significantly increase the value of its ongoing refurbishment project in Colombo 1. • Total investment is now raised from US$ 33.5 million to a substantial US$ 48.5 million. • This marks an additional US$ 15 million committed to the upgrade. • The added financing is jointly secured from UAE-based Mashreq Bank PSC and the company's holding firm, Galadari Brothers Co. LLC. • The expanded project focuses on upgrading the flagship Galadari Hotel, signaling continued commitment to Sri Lanka’s hospitality sector development.