On September 16, 2014, under the witness of President Xi Jinping and the then President of Sri Lanka Mahinda Rajapaksa, CCCC and the Ministry of Ports and shipping of Sri Lanka formally signed a concession agreement. The Port City Colombo is a comprehensive super-large investment construction project built by CCCC and its subsidiaries and the Sri Lanka Ports Authority. The project takes reclaiming the land from the sea, land development and real estate development as a whole, and will rebuild a brand new CBD in Colombo. The newly added area of the project is 269 hectares, of which about 178 hectares are planned for commercial development. The project is expected to create more than 83,000 job opportunities, and it will be able to house about 270,000 people after completion. On January 16, 2019, the 269 hectares of reclaimed land for the project was completed. This city, hailed as one of the "5 new cities that are set to shake up the future" by Forbes, will become a new engine for the economic development of Sri Lanka.