John Keells Group Teams up with Melco for Cinnamon Life Integrated Resort project

2nd May, 2024 Member Updates

The John Keells Group (JKH) recently announced forging a partnership with Melco Resorts & Entertainment Limited (Melco) for the Cinnamon Life Integrated Resort project. This collaboration marks a significant milestone in the development of this venture.

Under the terms of the partnership, Melco, a globally recognized leader in casino and integrated resort operations, will manage the gaming facility at the Cinnamon Life Integrated Resort. With an investment exceeding USD 1 billion, the resort promises to redefine luxury and entertainment in Sri Lanka.

As part of this collaboration, the integrated resort, previously known as ‘Cinnamon Life Integrated Resort’, will now be rebranded as ‘City of Dreams Sri Lanka’, aligning with Melco’s flagship integrated resort brand. This landmark development is set to become South Asia’s first fully-fledged integrated resort, attracting tourists and driving economic growth in Colombo.

‘City of Dreams Sri Lanka’ will feature a range of amenities, including a 687-key hotel under the ‘Cinnamon Life’ brand, an exclusive 113-key hotel managed by Melco’s ultra-high-end luxury hotel brand ‘Nuwa’, and a sprawling 500,000 square foot shopping and entertainment complex.

Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco, said, “We are thrilled to be part of this landmark development in Sri Lanka and to be in partnership with John Keells. We believe Sri Lanka has immense potential and this opportunity complements our existing portfolio of properties.
“Furthermore, City of Dreams Sri Lanka is expected to serve as a catalyst for stimulating tourism demand and promoting economic growth in Sri Lanka, drawing inspiration from the successful examples set by similar integrated resorts in other jurisdictions. We will continue to work closely with our esteemed partners and the Sri Lankan Government to ensure the success of this venture, and we expect to make a significant and positive impact on the local community and economy.”

Construction of the resort is progressing rapidly, with the ‘Cinnamon Life’ hotel and related facilities nearing completion and scheduled to open by the third quarter of 2024. Melco’s expertise in luxury hospitality and gaming will enhance the resort’s appeal, establishing it as a premier destination in the region.

Melco’s commitment to excellence is evident in its portfolio of award-winning integrated resorts across the globe, including properties in Macau, the Philippines, and Cyprus. With over 20,000 employees and a market capitalization of approximately USD 2.9 billion, Melco brings unparalleled expertise to the ‘City of Dreams Sri Lanka’ project.

With construction well underway and operations expected to commence in mid-2025, ‘City of Dreams Sri Lanka’ is poised to set new standards in luxury and entertainment, further solidifying Sri Lanka’s position as a premier tourist destination.