VELLA Signs USD 5.1M BOI Deal To Transform 98 Acres Resort & Spa

(MENAFN- Colombo Gazette) A visionary expansion set to position Ella and 98 Acres Resort & Spa as a global benchmark in luxury hospitality

Uva Greenlands Estate (Pvt) Ltd has signed a landmark agreement with the Board of Investment of Sri Lanka (BOI) on 29 May 2026, marking a defining milestone in the evolution of 98 Acres Resort & Spa-Sri Lanka's celebrated luxury retreat nestled in the breathtaking highlands of Ella.

The transformative USD 5.1 million investment will usher in a bold new chapter for the resort, redefining the boundaries of ultra-luxury hospitality in Sri Lanka while strengthening the island's reputation as a premier destination for discerning global travellers. The development will unfold in two phases over a 36-month period and is expected to generate approximately 150 direct employment opportunities, delivering meaningful economic impact to the Uva region and supporting Sri Lanka's positioning as a high-value tourism economy.

This marks the second BOI-approved project under the Vella Group's travel and tourism portfolio, further solidifying its growing footprint in Sri Lanka's luxury hospitality landscape. The Group's first BOI venture, the acclaimed Ravana Pool Club in Ella, has already earned recognition as an award-winning landmark, setting new standards for experiential hospitality on the global stage. With the expansion of 98 Acres Resort & Spa, the Group is poised to build on this success and once again raise the bar for world-class tourism experiences.

Eranda Abeyratne, Director and Co-Founder of Vella, shared his vision behind the investment:

“We believe it is our shared responsibility to elevate Sri Lanka's tourism industry to the next level. This investment reflects our commitment to introducing a new era of refined luxury and world-class hospitality-creating greater value for the industry and the country, while redefining destination hospitality in Sri Lanka.”

The expansion reflects Vella Group's long-term vision of delivering immersive, experience-led hospitality that is globally competitive while remaining deeply rooted in Sri Lanka's natural beauty and cultural identity. Through this partnership, Vella Group and BOI Sri Lanka signal a shared ambition to position the country not merely as a tourism destination, but as a benchmark for sustainable luxury hospitality in Asia.

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