Sri Lanka’s Prime Group completes and sells ‘Heritage Galle’ luxury villa project to customers. - Opportunity Sri Lanka
Sri Lanka’s Prime Group completes and sells ‘Heritage Galle’ luxury villa project to customers.

Sri Lanka’s Prime Group completes and sells ‘Heritage Galle’ luxury villa project to customers.

Ada Derana: Prime Group, celebrated the completion of yet another exceptional, heritage inspired luxury living experience in the city of Galle. “Heritage Galle” the first and only luxurious villa project in the city of Galle is fully sold-out and the keys to the houses which boast of luxury and intimacy, were handed over recently, adding to the increasing list of fully completed individual housing projects by the Prime Group.
The key features of Prime Group projects are the convenience, connectivity and community of the carefully selected locations in all product offerings. The luxurious villa project ‘Heritage Galle’ is located in one of the most sought-after addresses in Galle. “This was a good investment made by my father,” said one occupant beaming with pride at his luxurious home. “There is a lot more potential here in Galle and it is the tourist capital of Sri Lanka,” he added. Another occupant of ‘Heritage Galle’ said that he came once, and there was no need to supervise after that as everything was being done very well. Another described his house as a quality product. “The house is beautifully finished,” said another proud owner. A housewife who spoke about her new home said that it has exceeded her expectations.
Deputy CEO of Prime Lands (Pvt.) Ltd. Ruminda Randeniya said, “Every completed project and handover with certificate of conformity are special for us at Prime Group. It is the culmination of a great team effort to deliver high quality housing in conformity with all regulatory requirements. ‘Heritage Galle’ is the fifteenth fully completed luxurious villa project delivered to our discerning clientele. Prime Group is proud to be the only developer in Sri Lanka who could keep to the promises and deliver fully completed projects even in these times of economic uncertainty. We truly believe that “Heritage Galle” is proof of our promise of creating liveable and lovable neighborhoods for our customers.”
“We at Prime Group strive to maintain the trust of our customers. We are humbled and happy that we could hand over two more condominium projects to our customers during last month – “Java 25” and “Desire” located in Colombo 5. We have four more projects nearing completion which will be delivered to the customers within the next three months.” Randeniya concluded.
Prime Group is ranked as the ‘Most Respected Real Estate Organization’ for four years and the ‘Most Awarded Real Estate Entity’ for two consecutive years, ‘Great Place to Work’ recognized Prime Group for six years as a team that works with commitment, passion and purpose.
Prime Group has ongoing and completed projects with a portfolio of 30 individual housing projects, land projects spread across 18 districts in the country and more than forty apartment projects located in Colombo and the suburbs; a testament to delivering on their promises to customers, and to the group’s financial stability. This was reaffirmed by the latest credit rating upgrade assigned to both Prime Lands (Pvt) Ltd., and Prime Lands Residencies PLC by the Independent Rating Agency ICRA LANKA LIMITED (Subsidiary of Moody’s Investors Service) from [SL] A- (stable) to [SL] A (stable) in April 2022.

OSL take:

The sell out of the luxury villa project completed in the Southern city of Galle is indicative of the growing demand in the house and property sector. The economic activities and the country’s target of becoming an emerging business destination in the South Asian region have all had a positive impact on Sri Lanka’s real estate sector driving up the value of lands, house and property in Sri Lanka. The country’s geographical positioning in the Indian Ocean and the strong trade ties would further boost opportunities in Sri Lanka, thereby ensuring that investments in the country’s house and property segment would definitely provide a quick return on investment. Foreign businesses/investors could therefore explore the growing opportunities in Sri Lanka’s house and property sector.

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Article Code : VBS/AT/09082022/X_4

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