Sri Lanka’s BOI signs $ 9.08 million investment deal for luxury condominium in Colombo 3
Daily FT: Colombo’s real estate sector is set to witness the rise of a new luxury residential landmark, as investor and developer, One 2 One Ltd., has signed a $ 9.08 million agreement with the Board of Investment (BOI) to develop ‘The Maison’ — a high-end condominium project in Colombo 03.
The 15-storey (14 floors) super-luxury apartment complex, located in Abdul Gaffoor Mawatha, will feature 48 exclusive penthouses, each spanning over 2,000 square feet.
The project, undertaken through the developer’s newly established property construction company within the SMI Group, aims to redefine urban luxury living with world-class amenities and design.
There are four apartments on each level, providing complete seclusion. In terms of ventilation and lighting, each room is illuminated by a combination of natural and artificial light sources. Air circulation and natural and artificial light are both included in the closet. Fans and natural and artificial lighting are both included in the amenities that are provided in restrooms. Wait periods are kept to a minimum thanks to the presence of two elevators that service the forty-eight extraordinarily magnificent residences.
The condominium is in a prime location in the heart of Colombo 03 and is ideally suited for families because it is close to all the best schools, hospitals, restaurants, supermarkets, shops, and entertainment venues in the city. Further, it will bring ease of doing business to “business-minded executives.” The location ensures constant, rapid access to the financial centre of Colombo businesses.
With a total of 48 units, each with air conditioning is provided with the utmost privacy. With a total of three bedrooms and two and a half bathrooms, including a master suite, each apartment offers a spacious living space. Tiles of superior quality are used in the bedrooms. An expansive living area serves as the apartment’s focal point, while a light-filled balcony completes the ambiance by providing breathtaking views of the city and the faraway ocean. Stylish, high-end furnishings that adhere to European standards adorn the property. There is a toilet and a maid’s quarters in the unit as well.
In addition to high-speed internet and entertainment opportunities, all of the units come with FTTH telephone connections. A fire and smoke detection system that is part of a central gas system that also includes gas detectors, a fully redundant standby generator for all services. All flats equipped with split-type air conditioners, temporary garbage collection rooms and wet and dry garbage collection chambers are available on each floor for the collection of recyclable and biodegradable trash. There is one designated parking space for each unit and two slots for guests.
OSL take:
Sri Lanka’s ongoing economic activities and overall economic expansion have all given a push to the country’s key economic sectors resulting in the expansion of business/investment opportunities. The increasing business confidence in Sri Lanka is evident by the interest shown in the country by foreign businesses/investors as well as the growth recorded by the local house and property sector. The increase in the launch of house and property projects in Sri Lanka, especially in the country’s commercial capital, Colombo, and the report by the Central Bank of an increase in land values in Colombo all indicate the increasing growth and business potential in Sri Lanka’s house and property sector. With the country on targeting on becoming a regional hub, Sri Lanka’s house and property sector will provide many lucrative business/investment opportunities for foreign businesses/investors.
| Article Code : | VBS/AT/20250312/Z_4 |