Real Estate

EditorNovember 20, 2017
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7min340

Space Italia and Space Office opened its doors to the general public with a high profile event graced by H. E. Paolo Andrea Bartorelli, Italian Ambassador in Sri Lanka, who was the Chief Guest for the occasion, and many other dignitaries. The event was also represented by Jacopo Galli CEO, and Ash Gujral Export Manager of Mobilificio Santa Lucia.




The Showroom located at No. 98, Jawatte Road, Colombo 5, is very eye catching, complementing the fine details of the furniture displayed. Following the successful launch of the exclusive furniture showroom “Space” just one year ago, the owners of Space have gone above and beyond to add some up market European style and design to their collection. Space Italia, showcases products from Italian brands such as, Santa Lucia, for exquisitely designed furniture for homes and commercial venues, as well as from, Alta Cucina Italiana, providing designer kitchens, for those craving just that little bit of extra style in their homes.

Space Italia is the exclusive agent for both Santa Lucia products and Alta Cucina products in Sri Lanka and the Maldives. Once more it is wonderful to see that Sri Lanka is being approached by famous European brands, and proves that the local consumers’ tastes and styles have also changed over the years, with people yearning for a taste of exclusivity even in their homes.

Santa Lucia is a leading furniture design and manufacturing company in Italy, with over 52 years of experience in the field. First started in Prata di Pordenone in Italy in the year 1965, the founders boast of a passion for wood and furniture. The Company currently has two production sites, and are in the forefront of production systems with continuous investment and an eye for anticipating what the consumer of the future will need. Santa Lucia designers know that their styles and designs need to change with time to reflect the changes in society.

The Santa Lucia branded pieces are available for purchase from their new showroom and can also be made to order with a variety of design and colour options, the range provides complete bedroom suites, including beds, bedside cupboards, wardrobes and racks, as well as items for the living room. While Santa Lucia is considered to be a high end brand, all items are available at very affordable prices, and are value for money.

Alta Cucina kitchens, joins several other companies in Sri Lanka bringing European design and style to your homes, but with the difference being that they are available at prices that are far less than many that are currently available in the market, with options to fit your budget. Alta Cucina products are made to order, and may be customized to your requirement and pricing.

Space Office, is the newest venture by the exclusive furniture showroom “Space bringing exclusive pieces of furniture for an elegant office. From Management tables and chairs, to Boardroom furniture to workstations, Space Office caters to all your needs, and will even customize their products to suit your requirements. These easy to install pieces, will add that little bit more pizzazz to your workplace, creating an ambience which will not only appeal to your employees but to your clientele as well, creating lasting impressions. They will help you create a workspace that embraces creativity and inspiration, with beautiful artistic, yet elegant pieces of fine office furniture.

The showroom provides the consumer with products in different options, whether it be the materials used, the colours, styles or designs. For the corporate magnates who are in the forefront of the economic community, there are beautiful pure leather pieces of furniture, adding so much more to the ambiance that they would expect in their office. Whether it be wood, steel, leather or fiberglass, you have the option of selecting what catches your eye, according to your budget.

All items are available at very affordable prices. From reception or lobby all the way up to your Chairman’s office, can be furnished with just one visit to the new Showroom. Their very helpful sales personnel will be more than happy to assist you with your requirements. Space Office intends to continuously change their designs, catering to the needs of the market believing in that companies too like to change their styles and designs, their interiors, to suit the changing times.





EditorNovember 16, 2017
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2min350

Sri Lanka’s pioneer in innovative and affordable luxury living, Iconic Developments Pvt Ltd announced an agreement with Maga Engineering Private Limited, the country’s largest construction firm, to serve as engineering partner to its upcoming project, Iconic Galaxy.

According to Iconic Developments Chairman, Apurva Parikh, Maga Engineering was selected based on the firm’s reputation as one of Sri Lanka’s most reliable and respected players in the construction sector, coupled with their proven financial stability and unparalleled technical capabilities.

“Maga Engineering was our first and most obvious choice because they are experienced, efficient and have been involved in scores of similar projects. This partnership is a win-win for Iconic Developments and all our customers because they can look forward to owning a home that is constructed to perfection,” he said.

He further expressed that Iconic Developments was confident that Maga Engineering had the expertise and sense of creativity to do justice to the modern design of the apartment dreamed up by award-winning architect Samira Rathod.

Maga Engineering is one of the most trusted construction companies in South Asia, delivering high-quality buildings and infrastructure for over three decades. From concept to conclusion, Maga continues to work with an array of stakeholders – from investors and developers to public agencies and regional communities. As the largest construction company in Sri Lanka, its work has enriched all sectors of the economy, from healthcare and hospitality to transport and water supply.

Iconic Galaxy will offer un-paralleled experiences to their customers featuring meticulously designed and thoughtfully planned modern, chic amenities including landscaped gardens, a large clubhouse facility and a gym, swimming pool, and children’s play area. The building also comes with 24×7 security and a convenient shopping store, in order to provide maximum value for money to buyers and investors.  The project is due for completion in November 2021.


EditorNovember 16, 2017
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6min560

There is little argument that both Colombo and the city of Galle are two of the most developed urban regions in Sri Lanka. What’s significantly common about these two regions is that they are not just economically developed, but they are also highly celebrated travel destinations that offers so much for locals as well as international travelers. As such, these regions attract a large number of property hunters, who seek high-end residential or commercial properties in or near these two cities.

The real estate market in Colombo

Being Sri Lanka’s most developed city, Colombo is home to the widest variety of properties spanning from luxury and mid-range apartments, studio apartments, Luxury and mid-range houses,  high end and affordable commercial spaces, found anywhere in Sri Lanka. Its growth in infrastructure, technology and economy has resulted in many investment projects which includes, The Colombo port city, which draws its first investment of USD 1 billion in mid-2018.

As a result of the above, when compared to other regions of the country like Galle, Colombo indicates the highest demand for properties that correlates with its increasing prices. Hence the residential properties that you see in Colombo are constructed to offer you the most comfortable life within the city.

According to Lamudi research, Vertical living which was introduced to Sri Lanka not so long ago, is gaining the highest popularity within the commercial capital in comparison to cities like Galle. Thus, at present, a property hunter is given a plethora of options such as Altair, Iconic Galaxy, Capitol Twin Peaks and many more to choose from, which aligns with their requirements.

Colombo shows the highest price levels in comparison to other cities, especially for luxury apartments and modern houses. Additionally, an increase in land prices was also observed in the city of Colombo over the recent past. Currently, average luxury apartment sale prices range between LKR 60 – LKR 100 million. Luxury houses with a minimum of 2 bedrooms indicate an average sale price of LKR 10 – LKR 50 million. The rental prices for commercial spaces in Colombo indicate an average price between LKR 50 – LKR 100 thousand per month. However, price levels for such properties vary according to consumer requirements, facilities offered, locations and the area of the space.

However, the future of Colombo’s real estate market will largely depend on the expected infrastructure developments, which would come due to the proposed Western Region Megapolis Planning Project (WRMPP).

The real estate market in Galle

According to Lamudi’s in-house Real Estate Market Report of Sri Lanka for 2017, the city of Galle has been recognised as one of the fastest emerging metropolitan regions in the country for luxury properties. Real estate agents in the region have indicated that the demand for such properties seems to be growing at a stable rate for the past few years.  Thanks to its strategic positioning, Galle is currently attracting many foreign investors looking to leverage the Galle Marina and experts believe that many job opportunities can be created through Luxury yacht building and marina development.  One of the main factors that contributes to the growing real estate industry within the city is its inexplicable value in tourism.  Thanks to developments like Weligama Bay Marriott Resort & Spa, Fairway Galle, Amary Galle, Galle Beach Hotel, and infrastructural developments like the Galle Port, the city now offers a myriad variety of property including many short-term rental options.

In comparison to Colombo, property prices are low in Galle. Yet price levels have been increasing since the end of the 30 year civil conflict. Currently, luxury apartments for sale starts at 30 million. While long term rental prices for luxury villas range from 50 -100 thousand per month, monthly rental prices for Luxury houses may range from 10 – 50 thousand depending on the facilities included.

Nevertheless, the future of Galle seems to be a greener one. Due to its regional economic growth credits to the tourism industry, Galle may become the location of high-end properties with developments such as Fairway Galle focusing on a more sustainable future.

ABOUT LAMUDI

Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 13 countries in Asia, the Middle East and Latin America, with close to a million real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to- use platform to find or list properties online.


EditorNovember 13, 2017
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5min370

Sunday, 11th November 2017, Colombo: Blue Mountain Achillieon won the ‘Best Condo Architectural Design’ at a gala event at the ‘Asia Property Awards’ held on 8th November 2017 at Sands Expo & Convention Centre, Marina Bay Sands, Singapore. This will be the 24th accolade that Achillieon has won internationally. Blue Mountain Group Chairman Dr. Hiran Hettiarachchi also represented Sri Lanka’s property sector at the prestigious regional summit, where he delivered a speech at the summit and took part in a panel discussion on ‘Digging deeper into the project of the century: One Belt One Road.’

Achilleion’s iconic design and structure of the development is being supported by the global real estate titan, Palmer & Turner (P&T) Group Singapore, heralded as the No. 2 ranked residential developer in the world. P&T is reputed for only working in high value projects around the world, being extremely selective about the credentials of the property and its potential in becoming a landmark project. Enhancing the property’s value even further, the complex’s plush interiors are being curated by Index Design, a leading interior design practise also based in Singapore, which reflects the ultra-modern and latest international style that the apartments will deflect.

Commenting on the win at the prestigious Asia Real Estate Summit, Dr. Hiran Hettiarachchi (MBBS-Colombo & MBA-Australia) – Group Chairman of Blue Mountain, said, “I am truly honoured with our win and am pleased that our company was able to bring glory to Sri Lanka yet again. I am proud to showcase the strength and quality of our growing real estate industry. I was privileged to speak before leaders from Asia’s property markets and to be part of the distinguished panel of judges. China’s ‘One Belt One Road’ initiative has repercussions for the region and I am pleased to be able to share my views at the panel discussion, as it is important for Sri Lanka too, to realize how it will be impacted. This opportunity extended to me is a triumph for Sri Lanka’s property market and I am hopeful that it will help position the country as an attractive destination for real estate investments. The Blue Mountain Group has charted a bold and ambitious vision through its projects, especially Achilleion, which will herald Sri Lanka’s first seven-star luxury apartment.”

Achilleion was recently recognized as one of the top three apartments in the Asia-Pacific region, at the Asia Pacific Property Awards 2017. The iconic real estate development received a record number of eight awards including two 5-Star awards and emerged as the only Sri Lankan real estate development to be honoured at the event. This recognition enabled Blue Mountain’s Achilleion to compete against global real estate titans for the title of ‘Best Apartment in the World’ at the ‘World Property Awards 2017’, in November later this year.

The Asia Real Estate Summit is the premier gathering of top-level business leaders and industry experts to exchange ideas, build partnerships, gain industry insights and discover the most outstanding projects in Asia. The Summit covers the biggest issues driving real estate development, investment and growth in Asia and across the world. The format is fast-paced: keynote speeches and panel discussions are interspersed with shorter talks and presentations, as well as international networking lunch and coffee breaks, with early evening cocktails to end the day.

The Blue Mountain Group of Companies, in a relatively short period of time, has grown into a dynamic corporate that is rapidly revolutionizing Sri Lanka’s real estate industry. Today, Blue Mountain has become a full service real estate company in Sri Lanka which has diversified operations that extend across the areas of land sales, apartment developments and construction. The company is one of the most trusted and reliable real estate companies in the country.


EditorNovember 6, 2017
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4min1180

Blue Mountain Group Chairman Dr. Hiran Hettiarachchi will represent Sri Lanka’s property sector at the prestigious ‘PropertyGuru Asia Real Estate Summit’ on 8th November 2017 at Sands Expo & Convention Centre, Marina Bay Sands, Singapore. The finest minds in real estate from the Asian region will converge at the event to share their expertise. Dr. Hiran Hettiarachchi has been invited to deliver a speech to the august audience after which he will take part in a panel discussion on ‘Digging deeper into the project of the century: One Belt One Road.’ This informative discussion will explore outlook and opportunities across ASEAN markets and will be moderated by Winston Lee – Regional Head of New Projects at PropertyGuru. The eminent Panel will consist of Tom Miller – Author and Senior Analyst, Gavekal Research; Rafiq Jumabhoy – Managing Principal, Orkney Investments; Dr. Hiran Hettiarachchi – Chairman, Blue Mountain Group; and Evelyn Lim – Executive Director, Tax Advisory, BDO.

Commenting on the prestigious invitation to be part of the eminent panel, Dr. Hiran Hettiarachchi (MBBS-Colombo & MBA-Australia) – Group Chairman of Blue Mountain, said, “I am privileged to be invited to speak before leaders from Asia’s property markets and to be part of the distinguished panel of judges. China’s ‘One Belt One Road’ initiative has repercussions for the region and I am pleased to be able to share my views at the panel discussion, as it is important for Sri Lanka too, to realize how it will be impacted. This opportunity extended to me is a triumph for Sri Lanka’s property market and I am hopeful that it will help position the country as an attractive destination for real estate investments. The ‘PropertyGuru Asia Real Estate Summit’ will witness the presence of more than 100 regional experts from the real estate, design, finance and government sectors, and will showcase new strategies and cutting-edge innovations in the industry. The Blue Mountain Group has charted a bold and ambitious vision through its projects, especially Achilleion, which will herald Sri Lanka’s first seven-star luxury apartment.

The ‘PropertyGuru Asia Real Estate Summit’ will gather more than 20 global experts, 40 industry leaders, and 100 delegates from around Asia to explore key topics such as property and technology – ‘Proptech’ – and the impact of China’s One Belt One Road – OBOR initiative, and insights on the region’s evolving property markets.

The PropertyGuru Asia Real Estate Summit is the premier gathering of top-level business leaders and industry experts to exchange ideas, build partnerships, gain industry insights and discover the most outstanding projects in Asia. The Summit covers the biggest issues driving real estate development, investment and growth in Asia and across the world. The format is fast-paced: keynote speeches and panel discussions are interspersed with shorter talks and presentations, as well as international networking lunch and coffee breaks, with early evening cocktails to end the day.

The Blue Mountain Group of Companies, in a relatively short period of time, has grown into a dynamic corporate that is rapidly revolutionizing Sri Lanka’s real estate industry. Today, Blue Mountain has become a full service real estate company in Sri Lanka which has diversified operations that extend across the areas of land sales, apartment developments and construction.  The company is one of the most trusted and reliable real estate companies in the country.


EditorNovember 5, 2017
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5min710

Game-changing innovation set to revolutionise the construction industry

D.P. Jayasinghe Piling Co. (Pvt) Limited, one of the leading companies in the field of construction, and piling in Sri Lanka, unveiled a game changing innovation for the local construction industrywith the launch of Sri Lanka’s first and only 3000mm diameter drilling rig at a ceremony held at the Waters Edge recently.

The launch, graced by General Manager of BAUER Equipment Malaysia Robert Neukaeuper and Upali Jayasinghe – Chairman/Managing Director of D.P. Jayasinghe Piling Co., and was witnessed by a large number of industry experts, including leading engineers, consultants, as well as top management teams from several private organisations and government institutions related to the construction industry.

Manufactured by BAUER Maschinen Group of Germany, the Bauer BG 39 hydraulic drilling rig is expected to take Sri Lanka’s construction industry to the next level in terms of quality, speed, flexibility and convenience. Powered by a CAT C 15 engine that produces 433 kW a 1,850 rpm, the BG 39 includes a maximum drilling diameter of 3000mm and a maximum drilling depth of 60m. It boasts of 389 kNm torque and is capable of completing pile boring within shorter time periods when compared to the other piling machines available in the country at present. Despite a total weight of 178 tonnes, the BG 39 can be safely transported and assembled in any part of the country within 48 hours.  The new machine will complement the wide range of drilling rigs available at the company that ranges from 600m to 2000m in diameter, all of which are from BAUER Maschinen Group.

Established in 2013, D.P. Jayasinghe Piling Co. offers a highly-personalised service through its dynamic team of expert service personnel that delivers a complete solution to all clients. It has set a benchmark by utilising only technologically-advanced equipment sourced from Sri Lanka’s market leader and German specialists in foundation engineering machinery, BAUER Maschinen Group. D.P. Jayasinghe Piling Co. has successfully completed over 50 pile construction projects to date covering a wide array of projects such as housing developments, apartment complexes, hospitals and many more. Some of the mega piling projects completed by the company since inception include the Mihidupura Housing Project at Edmonton Road – Colombo 05, One Colombo Project for TATA Housing Development at Slave Island, Ayurveda Hospital Building-Stage II – Colombo 08, Apartment Complex at Ward Place, Colombo 07 for Prime Land Residencies and Waste Water Pumping Station Project of Colombo Municipal Council – Wanathamulla, Bambalapitiya and Vystwyke Road.

Commenting on the game-changing innovation, Upali Jayasinghe – Chairman/Managing Director of D.P. Jayasinghe Piling Co. stated, “There are a significant number of large-scale private and public projects being planned for the immediate future across the island as Sri Lanka continues to expand her urban landscapes and country-wide infrastructure. Some of these include projects such as apartment complexes, hospitals, hotels, highways and overhead bridges. Using the BG 39, not only can clients cut down on the time and costs, they are also guaranteed of a superior quality finish. I can confidently say that we are the No.1 in the country when it comes to quality and this new drilling rig will further boost our standing in the local construction industry and enhance our reputation as a company that provides world-class, innovative solutions to our valued clientele.”

D.P. Jayasinghe Piling Co. is a subsidiary of D.P. Jayasinghe Group of Companies, an organisation founded by Deshabandu D.P. Jayasinghe in 1960 as a transport company. Over the years, D.P. Jayasinghe Group of Companies has progressively evolved to become a conglomerate specialising in diverse aspects across multiple industries. The group’s portfolio comprises of transport, heavy machinery, construction, real estate and property, warehouse complex and container yards.


EditorNovember 4, 2017
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5min820

Already occupied by satisfied owners, the on time delivery of Capitol 7 once again entrenches the credentials of Capitol Developers as the foremost real estate development company in the country. Capitol 7 stands tall against Colombo’s skyline as one of the high profile luxury apartment projects. A satisfied investor, Uditha Fernando, is enjoying high rentals on his Capitol 7 apartment. Here, he explains why investing in an apartment at Capitol 7 was one of the smartest investment decisions he made:

Q: Why do you claim that investing in Capitol 7 was one of your smartest investment decisions?

A: It has been undoubtedly one of the most financial savvy decisions I made because the value of the apartment has already multiplied since I booked it a year ago. Moreover, since then the rentals have also risen, so I am able to rent out my apartment for a high rental amount. I also have confidence that given the appreciation of the property in such a short time, I will be able to make a tidy profit if I decide to sell it in the future. I believe investing in a quality project such as Capitol 7 is a safer bet than any other financial investment I could have made.

 

Q: What attracted you to capitol 7?

A: At the outset, the first plus point about the project that’s stuck me was the developers. Capitol Developers is a well known name in the real estate industry and I knew that investing in any of their projects would hold me in good stead. My first concern was to safeguard my investment and ensure it appreciated reasonably, all of which I achieved with this investment. Moreover, the location of the property in Colombo 7 was a big attraction for me. I knew finding tenants for the apartment would not be a problem in this area since there are many leading local and international schools in the immediate vicinity. Capitol 7 is designed for contemporary living and is located in the exclusively residential area of Rosmead Place.

Q: Are the tenants of your Capitol 7 apartment also happy with the experience of living there?

A: Yes, they are thrilled with the facilities at Capitol 7 such as a gymnasium, a rooftop swimming pool and a beautifully landscaped rooftop garden that offers the most stunning vistas, simply perfect for relaxation and recreation. They especially appreciate the strong sense of community at the apartment building as most residents are like-minded professionals. The elegance of the construction and amenities makes it a great choice for families. Further, considering the power cuts taking place in the city, they are relieves to have a standby power generator.

Whether as an investment or as a place to live in, Capitol 7 is the preferred choice for the happy customers who can envision a fulfilling lifestyle in its imposing structure. Capitol Developers has to its credit Capitol Residencies on Dharmapala Mawatha, HR Residencies on Havelock Rd, Capitol 7 in Rosmead Place, Capitol Elite in Horton Place and the business city hotel, Cinnamon Red. This newest project, Capitol Twin Peaks, a luxury apartment project, will feature a unique Sky Lounge, offering a magnificent view of Colombo, the Beira Lake and even the coastal line and harbour.


EditorOctober 31, 2017
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2min1130

Monday, 30th October 2017, Colombo: Blue Mountain Group’s most iconic real estate development to date, Achilleion, recently announced 2nd November 2017 as the last day for prospective customers to view the majestic model apartment at Achilleion to experience 7-star luxury at its best.

After the date, the model apartment will make way for the construction of the luxury project which is already underway on the land which is valued at Rs. 2.3 billion. The 7-star residence is set to offer unprecedented levels of luxury, innovation and exclusivity and its unique design concept has already won a string of international accolades.

Achilleion was recently recognized as one of the top three apartments in the Asia-Pacific region, at the Asia Pacific Property Awards 2017. The iconic real estate development received a record number of eight awards including two 5-Star awards and emerged as the only Sri Lankan real estate development to be honoured at the event. This recognition enabled Blue Mountain’s Achilleion to compete against global real estate titans for the title of ‘Best Apartment in the World‘ at the ‘World Property Awards 2017‘, in November later this year.

This state-of-the-art complex will also feature Sri Lanka’s first-ever sky bridge, the tallest sky restaurant by sea and an infinity pool, which will offer breath-taking views of the Indian Ocean and the vibrant Marine Drive stretch.

Blue Mountain advises those interested in experiencing the world’s first model apartment, created purely for viewing atop a 7 storey building, to reserve personalised tours on: 0714260260 prior to visiting the site, so as to gain first-hand experience of upscale living.



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