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Sri Lanka’s Prime Grand real estate project resumes operations

Sri Lanka’s Prime Grand real estate project resumes operations

The flagship luxury project of Sri Lanka’s Prime Group, Prime Grand, has resumed operations in accordance with #RestartSL protocols announced by the government of Sri Lanka.
According to reports, Prime Group which stands strong in their contribution towards the economic regeneration in the country, celebrated a key milestone of ‘Prime Grand’, the award-winning project crowned the Best Luxury Condo development in Sri Lanka in 2019 by Asia Property Guru Awards.
Just a few days prior to the curfew imposed to contain the spread of Covid 19, the group held the topping off ceremony on the 11th of March which marked the completion of the super structure celebrating the final cement pour.
The ceremony was graced by key stakeholders of the project including the Chairman and Co-Chairperson of Prime Group Brahmanage Premalal and Sandamini Perera, Chairman of MAGA Engineering Capt. M.G. Kularatne, Chairman of DG5 Suranjith De Silva, Managing Director of CSEC Shiromal Fernando, Managing Director of VForm Consultants Lalith Rathnayake and other key individuals. Prime Grand boasting 37 stories rising 160 meters into the sky is the first and only high rise in the prestigious Colombo 07, host to Sri Lanka’s longest elevated infinity pool.
“Celebrating the topping off of Colombo 07’s tallest skyscraper signaled that we are at the forefront of driving the Sri Lankan real estate industry towards new heights that leverage on high-end luxury,” Brahmanage Premalal, Chairman of the group has told the local media.
“Prime Grand will be in a class of its own bearing the country’s most prestigious address, with the finest finishes and luxury amenities. As the first and only high-rise in Colombo 07, our residencies are specially designed for utmost privacy and will have uninterrupted views over the city. Therefore I am positive that this project would be one of those key construction projects that would flourish with the influx of post-COVID-19 investments, in the new Sri Lanka we are building. The interest for this development had not decreased despite the COVID-19 pandemic and we have continued to receive positive inquiries about the project throughout”.
Prime group along with the construction giant MAGA Engineering has ensured all preventative health measures are followed through and the safety of all the stakeholders on-site and off-site is well maintained.
“We are also proud to be the first and only real estate company to receive an A- (Stable) credit rating, for the first time in the history of Sri Lanka’s real estate sector. The rating provides transparency to-wards our financial stability, assuring our clients a safe haven for their valued investments with us” Brahmanage Premalal has added.

OSL take:

Many large scale real estate development projects that were on hold during the Covid 19 lockdown have now resumed operations. Given Sri Lanka’s resumption of economic activities much faster than other countries in the region, business opportunities in Sri Lanka are expected to open up faster than anticipated. Also, Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment, the many trade agreements as well as trade concessions enjoyed by the country will undoubtedly help Sri Lanka regain its position as a business hub in the South Asian region. This will create many business/investment opportunities in Sri Lanka’s real estate development as well as construction sectors.

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Article Code : VBS/AT/20200619/5

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