Japan’s Belluna Company invests US$ 450 million in Sri Lanka’s luxury property market
Japan’s Belluna Company Ltd. has reportedly expressed its confidence in Sri Lanka with an investment of US$ 450 million in the country’s growing luxury property market.
Belluna’s project in Sri Lanka is 447 Luna and it offers a strong value proposition for prospective buyers seeking luxury real estate in Colombo, the local media has reported.
The project is backed by Belluna Co. Ltd. Japan and Asia Capital PLC, reports have further stated.
According to reports, Belluna Company is a Tokyo Stock Exchange (First Section) listed company and a significant player in the global real estate industry, with projects spanning Myanmar and Los Angeles, USA.
447 Luna Tower is Belluna’s first luxury apartment project in the country, and the Japanese developer has spared no expense to make sure it reflects its roots, the famed Japanese prowess for perfection and precision, the local media has noted.
The company’s other ongoing projects include a 300-room city hotel on Marine Drive in Colombo 3, an ultra-luxurious 57 room resort in Galle named Le-grand which opened in August 2018, as well as their first resort endeavour with Marriott International, debuting the “Westin Maldives Miriandhoo Resort” entailing 70 villas opened in October of 2018, along with a recently acquired multi development project residing on the borders of the Beira Lake, the local media added.
447 Luna Tower located in the heart of Colombo at Union Place is scheduled to be completed by 2020.
OSL take:
Investment of US$ 450 million by Japan’s Belluna Company is indicative of the high level confidence foreign companies have on the Sri Lankan economy. The development programme of the Sri Lankan government along with the many progressive economic policies adopted by the country have made Sri Lanka an attractive business destination for foreign businesses/investors. Most of them are currently exploring business/investment opportunities in the island nation.
| Article Code : | VBS/AT/15032019/Z_1 |