Elpitiya Plantations PLC has recently entered into a Shareholder’s Agreement with Sim Leisure Group to develop and operate an ESCAPE brand theme park in Galle, Sri Lanka.
This partnership will formalise and strengthen the business relationship between these two companies. The investment in the theme park is estimated to be over US$4 million, according to Ceylon Daily News.
ESCAPE Galle will be the first one in Sri Lanka
The ESCAPE theme park is expected to cover 30 acres. Construction for Phase One is expected to start in the financial year ending 31 December 2020. Currently, the park is expected to open to the public at the beginning of the financial year 2021.
At a time when the coronavirus pandemic is affecting construction and the attractions industry around the world, this investment and agreement shows the commitment and confidence of both parties in the project.
Elpitiya Plantations and Sim Leisure see tourism growing
ESCAPE Sri Lanka will be the first of its kind in the country. Sri Lanka has a population of over 20 million and a growing tourism industry. Elpitiya Plantations and Sim Leisure therefore see a lot of potential in the new park.
Sim Leisure’s CEO Sim Choo Kheng said that Sri Lanka’s “unpolluted coastline and beaches bring tourists from all over the world and its tourism industry is growing at an incredible pace. Furthermore, the cost of doing business in Sri Lanka is relatively low.”
He continued saying that”We will have the first-mover advantage of building the first world-class attraction in Sri Lanka.”
ESCAPE Galle will build upon the success of ESCAPE Penang, Malaysia. The theme park features play attractions such as climbing zones, obstacle courses, zip lines and waterslide.
Sim Leisure wants to expand on the success of its ESCAPE brand and develop parks in China and the rest of Asia.