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2 billion rupee, 15-floor office complex, the state investment promotion agency said. The project is implemented through Lee Hedges Investments Ltd, a unit of Lee Hedges Plc which is in the pioneer group.
The building will be in a 3 acre plot in Kollupitiya, an upmarket suburb of Colombo, the Board of Investment of Sri Lanka said. The BOI gives tax breaks for large investments.
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The building will have a colonial façade. Its architects are Design Consortium, a Colombo-based firm.
It will have 112,000 square feet of office space, three floor of parking.
The Pioneer group chaired by S R Vamathevan has built several apartment complexes, the BOI said.