Sri Lanka unit of Sotheby’s International Realty becomes global marketing agents for subsidiary of ITC Limited, India
The Sri Lanka unit of Sotheby’s International Realty has been appointed as global marketing agents for Sapphire Residences at Colombo 1 by Welcom Hotels Lanka (Private) Limited (WLPL), a subsidiary of ITC Limited, India, a local media report stated.
Situated on Colombo’s prime ocean front location on Galle Face, the 132 apartments and penthouses of Sapphire Residences and the 5-star ITC One hotel will be completed by 2021, a statement issued by the company has been quoted as saying.
“ITC One at Colombo 1, including the Sapphire Residences, represents a very significant long-term commitment by ITC Ltd in the future of Sri Lanka,” Nakul Anand, Executive Director of ITC Limited has reportedly said.
Sri Lanka Sotheby’s International Realty is part of the Sotheby’s International Realty network and provides independent brokerage service with marketing and referral programs for luxury properties.
OSL take:
The appointment of the Sri Lanka unit of Sotheby’s International Realty by India’s ITC India to perform the role of the global marketing agents for one of ITC’s projects in Sri Lanka is a clear indication of the value of real estate in the island nation. The development agenda launched by the Sri Lankan government has increased the value of real estate in Sri Lanka’s commercial capital, Colombo. Foreign businesses/investors could look at investing in real estate in Sri Lanka since their value is an upward trend.
| Article Code : | VBS/AT/20180713/Z_2 |