The port city provides the highest quality commercial, entertainment, medical, education and lifestyle opportunities, said a press release on Friday.

Exchanging views with President KCCI Junaid Esmail Makda during his visit to Karachi Chamber of Commerce and Industry, Simon Tham informed that the Port City, Colombo would be spanning over 269 hectares of reclaimed land from the sea, which would become South Asia's premiere residential, retail and business destination, offering unmatched planned city living along the warm waters of the Indian Ocean.

The development would comprise of five different precincts including the Financial District, Central Park Living, Island Living, The Marina and the International Island, he added.

He informed that this mega project was being developed by the Sri Lankan government and CHEC Port City Colombo Pvt. Ltd of China, a subsidiary of China Communications Construction Company Limited. It was expected to take 25 years to complete, and the aim is for the city to be a shining rival to Hong Kong, Dubai and Singapore.

The reclamation of 269 hectares of land for the project was completed in January and the second phase, construction of basic infrastructure for Port City Colombo was expected to be completed in about 12 months.

President KCCI Junaid Esmail Makda enquired about the ownership rights of foreign investors, facilities being offered, land lease policy for Port City Colombo and other relevant queries.

He assured to circulate the information about the Port City Colombo amongst potential businessmen and investors from KCCI's platform.

While highlighting the potential of Pakistani market, he pointed out that Pakistan was strategically located to become Asia's premier trade, energy and transport corridor. It was also the gateway to the energy rich Central Asian States, the financially liquid Gulf States and the economically advanced far eastern tigers.