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Luxury Apartments and RE News:
59 Stories Diamond Tower by largest Indian real estate investor
Larsen and Toubro - HT
India's engineering and construction conglomerate Larsen and
Toubro Ltd (L&T) is to build Sri Lanka's tallest building - the
59-storey and 246 metre high Diamond Tower in Colombo.
A joint venture between L&T and the Sri Lankan public sector
National Housing Development Authority, Diamond Tower will be
completed by May 2011, the state-owned Daily News reported
Friday.The $150-million complex to be built over an area of 1.5
million square feet will be a virtual township with luxury
apartments, service apartments, commercial space and parking lots.
It will be the first of its kind in Sri Lanka, the newspaper said.
Indian firms have recently entered Sri Lanka's private
construction market. They are building high-rise, high-end
residential complexes in Colombo. |
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Havelock City first phase ready by June
CDN :
read more
One of Sri Lanka’s newest residential complexes, Havelock City, the
largest single mixed development will complete its first phase by mid
2008.
“By now we have been able to sell 100 apartments,” COO of Overseas
Reality and DGM Marketing of Havelock City Remaz Ghouse said at
Havelock City yesterday.
| He said Havelock City
will soon redefine Colombo’s sky line and offer customers the
convenience of being in The upcoming Havelock City in Wellawatte.
the heart of Colombo with facilities beyond what other apartment
complexes offer. This project has been designed by Chinese
architects and constructed by them. |
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BOI signs deal for 60 storey-Colombo’s tallest tower: Colombo,
BOI
Read
More
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Flash! BOI yesterday signed an
agreement for a new 70 storey building with NEB Rapid
Infrastructure Projects Pvt. Limited of Bangalore, India. The
building will be the tallest in Colombo and is expected to be
completed in about three to four years. It will be built in Battaramulla at the cost of US$120 million and will provide
employment for large numbers both directly and indirectly.
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The new tower by NEB projects is
described as a mixed development project, which means that it
will include office space, commercial and residential sections. |
JKH in $ 500 m
investment project to reclaim sea land for mega city in Colombo:
Daily
Mirror Read More
Enterprise Development and Investment Promotion Minister Dr. Sarath
Amunugama said yesterday that the Board of Investment has approved a
proposal by John Keells Holdings (JKH) to reclaim sea land close to
the Colombo port area and develop a modern mega city. He said that the
project with an investment of US$ 500 million will reclaim 450 acres
outside the Colombo port. The Minister expects the reclaiming land
project to be finished within 2 years. Sri Lanka conglomerate John
Keells Holdings Group will lead the 450-acre (182 hectares) land
reclamation project
KevCove Apartments by 2010:
Malaysian conglomerate to build mega tower with 228 apartments (DN,
Read More)
Mitrajaya Group a renowned Malaysian
conglomerate based in Kuala Lumpur has extended its global reach to
invest in Sri Lanka’s housing sector. The concrete outcome of the
concept will be realized in the form of a BOI approved project, the 40
storey “Kew Cove” apartment homes, in the heart of Colombo.
The multi-million dollar investment will be jointly managed by
Mitrajaya Development Sdn, Bhd, Malaysia and Mitrajaya Development
Lanka (Private) Limited.
The imposing tower block consisting of 228 units of apartments and 4
units of duplex apartments, will sit on an exquisitely laid out
landscape with a magnificent frontage adjoining Beira Lake. The
panoramic view of the Indian Ocean is an added bonus.
Construction of Sri Lanka's third
tallest Twin Tower
The 38 and 42 storeyed Twin Tower will comprise 178 apartments
consisting of Penthouse, Standard, and Studio, type apartments.
Construction on The Dawson Grand commenced on October 1, 2006 and is
scheduled to be completed within 38 months. Keangnam, the Korean
construction giant has invested US $ 60 million to construct Sri
Lanka's third tallest 38 and 42 storeyed Twin Tower super luxury
apartment complex, The 'Dawson Grand', in Colombo 2. The construction
of the project commenced on October 1, 2006.
Managing Director Sri Lanka branch office Noh Han Choon said that this
is their biggest investment in Sri Lanka. "Our previous biggest
investment in Sri Lanka was the Royal Park Residencies for which the
company invested US $ 400 million," he said.
Asked if the tension in the North East has driven away their future
investment plans for Sri Lanka he answered in the negative. "Violence
happens all over the world and is something we are used to. Any
investment has its risks," he said.
Construction on The Dawson Grand commenced on October 1 and is
scheduled to be completed within 38 months. The twin storeyed
apartment complex will comprise 178 apartments consisting of
Penthouse, Standard, and Studio, type apartments. The Korean
architectural firm 'Space Group' is responsible for the design of The
Dawson Grand while their local partners are Design Group 5. A
workforce of 600 to 1,000 [ at peak time ] of which less than 4% will
be Korean, the rest being Sri Lankan, will comprise the construction
team of this ambitious project. Chairman and Director General (BOI)
Prof. Lakshman Watawala said this investment would once again prove a
landmark building in the country.
"The investments in the condominium development is on the rise," he
said.
"This investment is an eye opener for other investors and proves Sri
Lanka is a good destination to invest," he said.
The Dawson Grand apartments are now on sale and a model apartment
could be viewed at Bauddhaloka Mawatha, Colombo 7.(DN)
Puravankara Projects to foray into Sri
Lanka
TIMES NEWS NETWORK -
Read more
BANGALORE: The real estate boom in India has lured many international
developers to come and set-up-shop in the country. On the other hand,
Indian property developers are intensifying their foray into foreign
territory.
The latest drift seems to be towards Sri Lanka with Bangalore-based
Puravankara Projects all set to make its foray there. Puravankara
Projects has acquired 26 acres on the outskirts of Sri Lanka’s capital
city Colombo. The company plans to build close to 300 super-luxury
villas on this property.
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