PINNAWALA, Sri Lanka, October 24 (ePRESS) — Marking a major milestone for the country’s hospitality and real estate sectors, construction has begun on Elephant Vast Resort, the first-ever luxury boutique apartment-and-hotel complex in the Pinnawala area.
The ambitious project represents an investment exceeding Rs. 2 billion, making it the largest private-sector leisure and real estate investment in the region.
Main investor Dr. H. Ratnayake has allocated a 14.5-acre site for the development and has already invested about Rs. 300 million to start construction.
According to Architect Ranga Soysa, Project Consultant and Chairman of Ariel Assets Real Estate Development Strategies, the first set of apartments is expected to be completed by the end of next year.
“Although many tourists visit Pinnawala, only a few stay overnight. Our goal is to increase guest stays to around seven nights through traditional wellness and rejuvenation packages,” Soysa said.
The project will feature three categories of luxury homes, available for purchase or lease, aimed at guests seeking long-stay wellness experiences. It will also include 60 villas and a 30-room boutique hotel, blending modern luxury with eco-friendly design.
Soysa added that the development team plans to expand the concept to Thalpe, Hewaheta, Bolgoda, and Panama by 2030, with a total investment of Rs. 8 billion, adding 150 more villas and hotel rooms. These projects are expected to create around 700 direct jobs.
Marketing for the Pinnawala project has already begun in collaboration with Dr. Prem Jagyasi, an Indian expert in medical tourism and global wellness, and a UAE-based real estate company.
“We have already sold about 30 apartments, including 12 purchased by foreign investors,” Soysa noted.
Beyond boosting tourism, the project aims to strengthen local communities by creating new income sources and reviving Sri Lanka’s traditional arts and culture.
The team has already launched a cultural series to promote rural talent, beginning with a performance at the Fort Railway Station in Colombo. Future events are planned in Galle Fort, Ella, and Dambulla, leading up to a grand cultural festival in Ambuluwawa next August.
The Elephant Vast Resort project signals a new wave of investment and innovation in Sri Lanka’s post-pandemic tourism landscape — with Pinnawala set to emerge as a premier wellness and eco-luxury destination.
