First mixed development project in Sri Lanka’s Central Province reaches completion
The construction of the first-ever mixed development real estate project in Sri Lanka’s hill capital, Kandy, has reportedly been completed.
Dynasty Residencies is a 19-storey residential apartment complex with superior amenities developed by GVR Lanka, which is a real estate and property development company approved by Sri Lanka’s Board of Investments (BOI and founded by a Sri Lankan-born, US-based entrepreneur.
The developer’s aim had been to create a unique high-end lifestyle residential development to bring much-needed economic growth in the second largest city in Sri Lanka, climbing the ranks as the next best investment destination after Colombo.
Statistics have shown that 70% to 80% of all tourists who visit the country make a trip to Kandy. This coupled with the target of 4.5 million tourists that are projected to arrive by 2020, it is expected that there will be an increasing demand for star-class accommodation units in Kandy, the local media has reported.
This project is the first and only apartment complex to be constructed within 30 metres from the Mahaweli River, proving to be another unique characteristic of this complex.
According to reports, Dynasty Residence is the first apartment complex to win US Green Building LEED (Leadership in Energy and Environmental Designs) Gold certification in Sri Lanka.
OSL take:
The completion of a mixed development project in Sri Lanka’s hill capital, Kandy, is indicative of the growing business/investment opportunities in areas outside the country’s commercial capital, Colombo. In similar fashion, foreign businesses/investors could explore business/investment opportunities in areas outside Colombo.
| Article Code : | VBS/AT/09042019/Z_6 |