The Ministry of Finance, Planning and Economic Development of Sri Lanka has announced that the Government of Sri Lanka (GoSL) has launched an Expression of Interest (EOI) for local and international investors regarding the divestiture of Canwill Holdings (Pvt) Limited, as part of its state-owned enterprise reform programme.

The GoSL is pursuing the full divestiture of its 100% shareholding in Canwill Holdings (Pvt) Limited, the parent company of Sinolanka Hotels & Spa (Pvt) Ltd and Helanco Hotels & Spa (Pvt) Ltd. The process involves a two-stage competitive bidding: first, soliciting EOI from eligible local and international investors, followed by a detailed bidding phase for shortlisted parties. Interested parties can access the full REOI document via the Ministry's website. 

The property, bordering the Indian Ocean, offers arguably the best vantage point in Colombo with views of Colombo Port City, Port of Colombo, Galle Face Green, Lotus Tower and the emerald hinterland.

The property features an impressive 47-storey structure with 458 rooms and an additional 100 serviced apartments, all situated on 2.32 acres of prime oceanfront real estate.

The divestiture targets qualified investors with experience in hospitality or related sectors. A virtual Pre-EOI meeting was held on January 21, 2026, at 12:00 PM Sri Lanka Time (SLT) to address clarifications on the REOI and transaction. Attendance was optional and did not affect EOI eligibility. Interested parties registered by emailing canwill@mo.treasury.gov.lk to receive the meeting link. 

EOIs must be submitted by February 16, 2026. Submissions should follow REOI guidelines, including proof of financial capability, track record, and compliance with Sri Lankan regulations.