Prime Residencies’ ‘One Tangalle’ commences construction
Daily FT: With the promise of an oasis of indulgence, where the endless blue sea meets the tranquil embrace of a serene lagoon, Prime Residencies PLC, Sri Lanka’s leading real estate developer has commenced the construction of ‘One Tangalle’, an ultra-luxurious boutique development in southern beachfront living. The official ground breaking ceremony for the project took place on 26 April in the presence of homeowners, consultants and all other stakeholders.
Located among Sri Lanka’s most sought-after coastal destinations in the South, One Tangalle is the latest addition to Prime Group’s prestigious ‘One Collection’ portfolio. The construction, undertaken by the renowned Tudawe Brothers, is expected to be completed in 2027.
With over 30 years of trusted excellence, Prime Group has tailored One Tangalle for discerning homeowners seeking privacy, and unparalleled comfort setting a new standard for luxury in Sri Lanka.
The development features 38 meticulously designed two and three-bedroom spacious lagoon-sea villas, ranging from 1,350 to over 2,000 square feet spacious living areas, ideal for residents seeking a high-end lifestyle with all the conveniences of serviced apartments.
Each unit is crafted with meticulous attention to detail with floor-to-ceiling glass windows, lagoon and sea views from each apartment, open kitchens, and a dedicated concierge. Residents enjoy world-class amenities including a rooftop infinity pool, fitness centre, cigar lounge and bar, games gallery, outdoor BBQ area and state-of-the-art building security services.
Known for its breath-taking beaches and rich biodiversity, Tangalle is rapidly emerging as a sought-after destination for discerning travellers. The area is home to several popular attractions, including the Mulkirigala Monastery, Hummanaya Blow Hole, Rekawa Turtle Hatchery, and Kalametiya Bird Sanctuary, all within a short distance from One Tangalle. The area is also known for its fresh seafood, local cuisine, vibrant community, and water sports.
OSL take:
The ongoing economic activities and overall economic expansion have all resulted in the overall growth in the country’s house and property development sector. Reports by the Central Bank of Sri Lanka have also reported the increasing land value in economically active areas in the country. The increasing housing and property development projects being launched by local businesses engaged in the development and construction sectors are a clear indication of the increasing business potential in these sectors. With Sri Lanka working on becoming a regional hub supported by the country’s geographical positioning in the Indian Ocean and the strong trade ties enjoyed with many foreign countries, the business/investment opportunities in the house and property development sectors could witness a continuous growth ensuring lucrative business ventures for foreign businesses/investors. Foreign businesses/investors could also look at expanding operations through partnerships or joint ventures with local businesses engaged in the house and property development sectors in Sri Lanka.
| Article Code : | VBS/AT/20250520/Z_4 |