A state-of-the-art family entertainment venue known as Fantasy Island is coming to Sri Lanka. The entertainment park will be located in the Colombo suburb of Battaramulla.

Sri Lanka’s state-owned Board of Investment (BOI) has signed an agreement with foreign investors to develop the pioneering attractions site.

The Melchers Group is to build the Fantasy Island project at a cost of $4 million. The venue will feature a 40-metre Ferris wheel, a huge waterplay area with waterslides and other attractions, and an indoor snow facility.

Alexander Melchers, the Melchers Group managing director in South East Asia and founding investor of Fantasy Island, commented:

“Sri Lanka has made great progress to build hotels and infrastructure. Now, the Fantasy Island is the beginning of the next development phase of the tourism industry.

“We will provide a purpose-built, state-of-the-art family entertainment attraction to cater for international and local tourists and residents. I am very confident in the business outlook in Sri Lanka. We represent German, Singaporean, and Swiss investors who believe in the long-term potential of Sri Lanka,” Melchers added.

Michael Perera, chairman of the Sri Lankan office of the Melchers Group, CMC Engineering Export, said:

“In phase 1, the investment of more thn $4 million will bring inclusive attractions for the entire family which are truly unique to Sri Lanka.

“Fantasy Island will create over 60 employment and career development opportunities for the community.”

Fantasy Island is due to be completed in 2020.