Jul 10, 2017

1996 Iconic Tower halted due to lack of capital! Featured

Construction of the 1996 Iconic Tower, a tribute to the cricket World Cup win 21 years ago,  has been abandoned due to a lack of a 150 million dollar capital, according to reports reaching Sri Lanka Mirror.

The 330 million dollar project was to come up in a plot of land in Colombo given to the winning cricketers by the government of Chandrika Kumaratunga, as well as an additional two acre land acquired from the UDA.

The players had been promised apartments and profits from the project in return for their land contribution.

Team captain, present minister Arjuna Ranatunga, mediated to get Sripathi Group of Bombay to make the investment for the 96-floor mixed-use development, with 376 residential apartments, 92 penthouses, and amenities like a pool, gymnasium, spa, and outdoor sky decks.

It had even carried out a pooja, and already invested around Rs. 300 million on the project, according to reports reaching Sri Lanka Mirror.