Canadian investment in Sri Lanka’s Eastern Province to set up
Canadian investment in Sri Lanka’s Eastern Province to set up mixed development project

Canadian investment in Sri Lanka’s Eastern Province to set up mixed development project

A mixed development project consisting of luxury living combined with star class hospitality services is being mooted in Sri Lanka’s Eastern Province by Ideal Developments Canada and Pura Resorts Canada.
The chosen destination for the project is Nilaveli in the Trincomalee District.
The PURA Luxury Resort will reportedly have 50 luxury resort chalets and 62 luxury island homes ready for occupation by April 2020.
The promoter has told a media conference in Colombo last week that Ideal Developments is a multi-faceted company engaged in the development of residential and commercial real estate throughout Greater Toronto.
Managing Director of Pura Resorts Inc and Director of Corporate Affairs Ideal Group, Sri Nithya Omkarananda has said: “Our entire concept is built around having five star resorts and vacation resorts in destinations that have untouched beauty – raw, virgin surrounds – lush greenery and large trees that form the backdrop to oceans, waterfalls and rivers, basically, offering nature, paradise, luxury, joy and inspiration.”
According to reports, Ideal Developments founded by Sri Lankan Shaji Nada, collates design-forward strategies to create exceptional projects that showcase leading-edge architecture and technology, boasting an impressive portfolio of upscale custom luxury homes.
A media statement on the project has stated that the 62 spacious vacation villas at PURA come in three and four bedroom layouts, each featuring expansive gardens, light-filled interiors, parking, private swimming pool and glass-walled living and dining areas blurring the line between indoor and outdoor space with complete privacy.
The project’s chief architect Philip Weeraratne has been quoted as saying that maintaining the central theme of nature is an integral facet and utmost care is being taken to preserve the existing trees and landscape. “The natural stream that runs through the site is incorporated into the design, sometimes even meandering through guest rooms, while large expanses of the site remains as preserved jungle,” Weeraratne has said.
The mixed development project is to be launched in several overseas countries as well – namely, Canada, UK and Australia in February.

OSL take:

The move by the Canadian based businesses to invest in a mixed development project in the Eastern Province in Sri Lanka is one of the first such programme to take place outside of Sri Lanka’s commercial capital, Colombo and its suburbs. The project has opened up the possibility for similar programmes being mooted in different parts of Sri Lanka by foreign investors along with local partners.

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Article Code : VBS/AT/20180206/Z_3

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