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Developers of The Ritz-Carlton Hotel and Residences in Sri Lanka celebrate milestone

Developers of The Ritz-Carlton Hotel and Residences in Sri Lanka celebrate milestone

The One Transworks Square Ltd. in Sri Lanka, which is the developers of The Ritz-Carlton Hotel and Residences Colombo, recently celebrated achieving the construction milestone of 200 m (323 m Tower A) with its construction partners Shougang Construction Group Co. Ltd. (SGCG), local media reports stated.
During the ceremony held on the 50th floor of the tower A, One Transworks Square Chief Executive Officer Janaki Siriwardhana, together with the management team and other stakeholders such as the project management team of Prop. Chithra Weddikkara of QServe and Shiromal Fernando of CSE – Civil and Structural Consultants to the project and his team had reportedly joined with the SCGC team in Sri Lanka to celebrate the occasion live with the SCGC management team in Beijing via a video call. 
Siriwardhana has been quoted as saying in the Daily FT, “It is an outstanding milestone achieved by SCGC and all other construction partners, especially at these trying times. We will continue this momentum forward despite the current economic conditions to ensure timely delivery of the residences and the hotel.” 
She has thanked the SCGC team both in Sri Lanka and in Beijing for the commitment and the quality of construction work carried out by them. 
SCGC Managing Director Haifeng Liu has said, “We are proud to be a part of this landmark project in Sri Lanka and determined to carry out the construction work as planned and to the quality that is expected of such project.”
On the 54th floor of Tower A, the Ritz-Carlton Hotel and the Residence will see its completion in the latter part of 2022.

According to reports, currently, over 60% of the apartments of The Ritz-Carlton Residences Colombo have been purchased by both local and foreign buyers making the project as one of the success stories on pre-sales for the ultra-luxury condominium market in Sri Lanka. 

OSL take:

The milestone reached by the Ritz-Carlton Hotel and Residences is indicative of the ongoing development projects in the country. They also show the growth potential of Sri Lanka’s economy. Also, Sri Lanka’s geographical positioning in the Indian Ocean, ease of doing business environment and the many trade agreements as well as trade concessions enjoyed by the country have made the island a business hub in the South Asian region. 

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Article Code : VBS/AT/20200910/Z_1

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