Iconic Galaxy Archives

December 29, 2022

Iconic Galaxy recently started handing over their luxury apartments to customers following the project completion in October 2022, with JLL, Sri Lanka’s premiere real estate property management company, inaugurating their office with a ceremony. JLL helps buy, build, occupy, manage and invest in a variety of assets including industrial, commercial, retail, residential and hotel real estate.

Iconic Galaxy comprises 269 units ranging between Two to Five-bedroom apartments. Following the landmark success of 110 Parliament Road, Iconic Developments affirmed its confidence in Rajagiriya as the ideal location for its next residential development, Galaxy. Popularly known as the ‘new city center’, this upscale precinct is a green haven, with the Royal Colombo Golf Club to the west, the sprawling Diyawana Oya Lake to the south, and lush, mangrove-lined canals to the North and East. Rajagiriya has a network of quality public and private schools, hospitals and financial institutions, and every leisure facility – from luxury hotels and retail destinations, to fine dining.

Rohan Parikh, Chairman of Iconic Developments commented, “The Iconic Galaxy apartments are expected to command premium rental income and a very high Return on Investment for our existing and future buyers. We are grateful to the team at JLL for making us a part of their inauguration ceremony and for their incredible support to us throughout the handover process. We are positive that through the support we have received from JLL, this project will be a sanctuary to those looking for a retreat-like, tranquil experience that is closely intertwined with nature and at the same time features all modern comforts and connectivity.”

“We are very excited to partner with Iconic Developments’ newest creation in the heart of Sri Lanka, Iconic Galaxy. JLL is a fortune 500 company that specializes in real estate and investment management with annual revenues of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. We create safe and healthy spaces that promote productivity, wellbeing, and sustainability and it will be our constant endeavor to achieve and maintain the same with Iconic Galaxy,” said Sanjeev Nair, Senior Director – Work Dynamics & Property Management, JLL Sri Lanka.

JLL was the first International Property Consulting firm to establish operations in Sri Lanka in 2011 and currently manages 50+ facilities catering to multinationals, corporate offices and condominiums, including Iconic’s project 110 Parliament Road and the most recent Galaxy where JLL inaugurated the property management office with an opening ceremony on 30th November 2022 and officially kick started operations to support an elevated condominium living experience for the residents.

At Iconic Galaxy, world-class design and elegance come together in these bright, airy, temperature-controlled residences with large windows and open air decks. Unparalleled views and the finest finishes make your apartment a place you’d love to come home to. Throughout the 7 club floors, you will find an array of exquisite recreational activities and convenient services for residents. The luxury apartment complex also offers private guest suites for overnight visitors, and on-site conveniences that include a supermarket, business center, and spa. Last 20 luxurious and spacious units are now open for sale. For more information, reach out to us on +94 777 70 80 90.

November 29, 2022

Iconic Galaxy recently started handing over their luxury apartments to customers following the project completion in October 2022.

The project comprises 269 units ranging between Two to Five-bedroom apartments. Following the landmark success of 110 Parliament Road, Iconic Developments affirmed its confidence in Rajagiriya as the ideal location for its next residential development, Galaxy. Popularly known as the ‘new city center’, this upscale precinct is a green haven, with the Royal Colombo Golf Club to the west, the sprawling Diyawana Oya Lake to the south, and lush, mangrove-lined canals to the North and East. Rajagiriya has a network of quality public and private schools, hospitals and financial institutions, and every leisure facility – from luxury hotels and retail destinations, to fine dining.

Rohan Parikh, Chairman of Iconic Developments commented, “The Iconic Galaxy apartments are expected to command premium rental income and a very high Return on Investment for our existing and future buyers because of the sheer finesse, impeccable quality and grandeur that all its amenities have to offer. Galaxy by Iconic is a sanctuary to those looking for a retreat-like, tranquil experience that is closely intertwined with nature and at the same time features all modern comforts and connectivity”

World-class design and elegance come together in these bright, airy, temperature-controlled residences with large windows and open air decks. Unparalleled views and the finest finishes make your apartment a place you’d love to come home to. Throughout the 7 club floors, you will find an array of exquisite recreational activities and convenient services for residents. The luxury apartment complex also offers private guest suites for overnight visitors, and on-site conveniences that include a supermarket, business center, and spa. It’s an entire range of options for you and your family.

Spread across the rooftop, these landscaped hanging gardens foster community building, rest and rejuvenation. From the amphitheater to the rooftop café to the Zen gardens, there are many avenues for residents to relax and create memories.

“We are delighted and amazed at the completion of Iconic Galaxy and thrilled to see its outcome. I am glad we have handed over our apartments here, centrally situated in the city and with such luxurious amenities,” said Shiraz Dawood, Country Director/ COO of Iconic Galaxy.

October 4, 2022

October 04, 2022: One of Sri Lanka’s leading real estate developers, Iconic Developments, organised a Pirith Chanting ceremony followed by almsgiving to Maha Sangha on September 24. The ceremony was held to celebrate the beginning of the official handover of Iconic Galaxy apartments to its customers and invoke blessings on all Iconic Developments employees, including Iconic Developments Managing Director Rohan Parikh.

The event was held at Iconic Galaxy premises under the patronage of Rohan Uchil, President- Construction and Shiraz Dawood, Country Director and COO of Iconic Developments. Under the first phase, 100 units will be handed over to apartment owners.

As a brand that attracts many investors to the island nation, Iconic Developments has asserted its commitment to put Sri Lanka on the investment map and display all its luxuries to the world beyond. With its two existing magnificent residential complexes, Iconic Developments is set to launch its third project Iconic Skye as part of its commitment to elevate Rajagiriya as the hotspot of some of the fastest-growing properties in Sri Lanka

November 19, 2021

Colombo – November 17, 2021: As Sri Lanka’s thriving real estate sector attracts increasing investor interest, the Ceylon Chamber of Commerce (CCC), in partnership with Iconic Galaxy, recently hosted an immersive and comprehensive webinar titled ‘Why Sri Lanka is Becoming the Ideal Real Estate Investment Attraction’, focusing on understanding and exploring real estate investment opportunities in the country.

With reputed industry leaders in the developer, advisory and banking sectors, the webinar served as an insightful conversation that captured a 360-degree overview about whether this was the right time to invest in real estate in Sri Lanka and why.

The expert panel comprised of Iconic Developments Managing Director Rohan Parikh, Jones Lang LaSalle Head of Sri Lanka Jerry Kingsley, National Development Bank (NDB) Vice President – Branch Network Management and Product Development Zeyan Hameed, and was moderated by KPMG – Sri Lanka Senior Manager – Real Estate Advisory Division Gihani Hewavitharana.

Among the main topics discussed were the growth of the real estate sector in Sri Lanka, the benefits for Sri Lankan homeowners and the avenues and opportunities for investment.

The floor opened with Jerry Kingsley on an advisory front as he dove into the specifics of how the priorities of a typical Sri Lankan homebuyer, office space buyer and investor has changed following the COVID-19 pandemic.

“For office buyers, it was noteworthy that health and safety have become a top priority since COVID-19. Another thing that has changed is the flexibility in office spaces. Many are focusing on their office spaces’ co-working aspect and have taken steps to revitalise and ensure optimum workspace is utilised. For the average homebuyer, their home has turned into a workspace, a school or something greater. Therefore, it is important that their homes are bigger, with more amenities and smart home configuration to adjust to the technological increase in the new normal,” said Kingsley.

From an advisor’s noted that investors are looking at multi-asset classes, industrial logistics, healthcare and hotels as a part of their diversification initiative. Another eye-catching difference between developers and investors is the increased focus on sustainability. Most investors are now taking steps to integrate sustainability solutions into all their projects.

Rohan Parikh, Managing Director of Iconic Developments, stated that this post-pandemic era would be the best time to invest in Sri Lanka.

“The main reason for this is because, in Sri Lanka and Colombo, the construction cost is higher than the land price, which is usually the opposite as opposed to countries like India and Malaysia. Therefore, when we make investments in Sri Lanka, it is sure to be a safe investment because it will not be exposed to price fluctuation,” he noted.

He also noted that new concepts for adapting homes to the new realities have already started to emerge. For one, the healthfulness of a building and its shared spaces is now considered a vital amenity. More inventive designs will continue to appear and put the richness of architecture at the heart of change.

Parikh also stated that Sri Lanka is an ideal investment space because of the demand in the local market. With 70% to 80% of buyers being Sri Lankans, 25% being non-residential Sri Lankans and just 5% of condominiums being sold to foreigners, Sri Lanka’s local demand for condominium and luxury spaces has increased.

Jerry Kingsley noted that the super-luxury market might not gather as much velocity as the luxury condominium market due to the high construction costs.

“The current global pandemic has had a significant effect on the construction industry, and the challenges faced are manifold. The most obvious being delays caused to construction companies. Idling workers and escalating interest result in increased costs for the companies. Restarting sites while ensuring social distancing and other safety measures prescribed by the Government, will be time-consuming and costly, leading to an increase in costs and prices,” he said.

Looking at the banking sector, the CCC opened the floor to Zeyan Hameed of NDB. He immediately debunked the myth that people request home loans purely due to their limitation of income.

“We are often under the impression that most people request for home loans due to their lack of income, but many investors and developers are also part of our target audience. As a bank in the post-pandemic era, we are committed to giving the maximum support to consumers. Interestingly, in the past few months, the property search in Sri Lanka has gone up by 79%, which is directly proportional to the number of people who have requested home loans since. Meanwhile, 95% of the investors that we see are Sri Lankans or non-residential Sri Lankans,” he said.

Hameed also noted that the bank could also facilitate that properties are valid; the legal aspects of a purchase are also fully vetted to ensure that the consumer gets as much transparency as possible. He also explained some of the payment schemes that NDB offers to those looking to invest in and purchase home loans for residential purposes.

Overall, this could prove to be an optimal time for smart buyers as developers offer discounted prices to buyers. Those choosing the right project to invest in could see a strong return on their investment in the long run. However, picking the correct developer and project is key.

Finally, the three panelists conversed on how Colombo is a city full of promise. Sri Lanka will expand its borders from the commercial capital, which will reduce any land limitations that developers or investors might face. On an advisory level, with insights from a developer in Sri Lanka and a representative to ensure that the legal aspects of real estate investment are taken care of, the webinar established that investment in Sri Lanka is the right path to go on.

July 30, 2021

The Privé penthouse apartments, which are the most private suites at the self-contained luxury living space, the Iconic Galaxy, are in high demand, signalling heightened interest amongst prospective homeowners and investors, infrastructure developer Iconic Developments (Pvt) Ltd said.

The recently launched penthouse apartments provide the most exclusive accommodation within the Iconic Galaxy luxury complex. As they are situated on the topmost floors of the building, the penthouses offer the best and most pristine views of the surrounding vicinity. In addition, they are very closely located to the club, the terrace, and the observatory of the self-contained apartment complex, increasing accessibility to these facilities.

“COVID-19 has heightened the necessity for prospective homeowners to find self-contained, self-sufficient and secure living, and our penthouses offer the ideal culmination of these requirements,” Iconic Developments (Pvt.) Ltd Managing Director, Rohan Parikh said.

In addition to all the amenities and features present in the Club apartments, the Privé spaces are exclusively fitted with luxury furnishings, including a premium finish, and upgraded hardware on the classic wooden main doors for durability. Moreover, the Privé modular kitchens feature an advanced kitchenette from the house of Nolte including a sophisticated take on the standard hob, hood, and oven. The kitchens are also equipped with added appliances such as a dishwasher and microwave while the bathrooms consist of premium Brushed Nickel bathware from Kohler, an upgrade from the previous Chrome finish

“The Privé spaces definitely feature some of the best work from Iconic Developments. Such attention to detail on the finishing and working with top brands to ensure high standards for the furnishings and appliances appears to have positioned these penthouses as an ideal investment for the future due to the long-term resilience of the properties,” mentioned Mr. Parikh.

These spaces go further by merging innovation with functionality to optimize the modern living experience. This involves basic home automation for lights and fans which can be controlled by touch switches as well as connected to an iPad or mobile phone device for easy access. Buyers are also offered the possibility of adding more automated amenities such as curtains, air conditioners and televisions at an added cost. As such, the ability to interlace modernity with meeting the practical needs of homeowners such as comfort, accessibility and security has led to the heightened interest in these Privé apartments.

“Our apartments are not only self-contained and self-sufficient but also offer prospective buyers a safe and secure environment for worry-free living. Iconic Galaxy provides card-access entry to the apartment corridor lobby at their respective floors from the lift lobby and many other measures to ensure our Club and Privé residents feel comfortable and at ease at their homes. It is thrilling to see the attention our penthouses have been receiving from prospective homeowners, seeing as this is an ideal time to invest in such a property,” Parikh commented.

Located in the upscale precinct of Rajagiriya, the internationally-minded and locally inspired apartment complex is perched on the trunk route of the Buthgamuwa Road. Providing its residents with world-class amenities and services, including a business centre, supermarket, electric vehicle charging points, and car wash, the complex caters to the modern era’s growing need to be self-reliant. Additionally, Iconic Galaxy was recently recognized in the residential high-rise development category for Sri Lanka at the Asia Pacific Property Awards 2020-21.

June 28, 2021

Leading infrastructure developer Iconic Developments pledged to maintain the urban green ecosystem created within the main structure of its latest high-end modern self-contained luxury living space, the Iconic Galaxy, situated in Rajagiriya’s upscale locality.

Commemorating World Environment Day this June, Iconic Developments Managing Director Rohan Parikh said: “The UN declared 2021- 2030 as the decade of restoration following a proposal and a resolution by over 70 countries rallying for the protection and revival of ecosystems. While there are many initiatives under the theme of protecting different facets of the environment, we should pay particular attention to our urban areas.

“Even though urban areas occupy just 3% of the earth’s land surface, it accounts for 70% of all carbon emissions. Despite the steel, concrete, crowds and traffic, the condition of our ecosystems profoundly affects the quality of our lives. A well-functioning urban environment can help clean our air and water, cool urban heat islands, shield us from hazards and provide opportunities for rest and play.”

As such, the entire rooftop of around 12,000 square feet at the Iconic Galaxy is dedicated to house a fragrant garden, Zen garden and children’s play area, to name a few. Constructed to strict environmental standards, the one of a kind rooftop incorporates the lush greenery of Rajagiriya in the Iconic Galaxy and doubles as a natural cooling mechanism for the building and a solution to urban heat islands.

Notably, the rainwater harvesting system installed at the apartment complex will be used to maintain the gardens and the car wash facility, providing residents with a convenient opportunity to make an eco-friendly choice.

“Environmental sustainability has been a part of every single step in creating the Iconic Galaxy. Colombo is one of the very few green cities in the world, and we made sure this was reflected in the substantial green spaces we allocated. As pioneers in the construction industry, it is of utmost importance to us that we create for the future,” Parikh continued to comment.

Notably, the project set the benchmark in environmental sustainability during the construction process with the flood-proof foundation, which allowed for 60% of the land to be used for water retention with drainage systems in place to divert storm water back to the canal.

Further, a state-of-the-art compact wastewater treatment plant will be installed to purify sewage and wastewater.

The Iconic Galaxy is set to deliver 285 super-luxury, two, three, four and five bed-roomed apartments amidst a plethora of world-class amenities and services. In addition, the apartment complex will be home to a 7-level private club worthy of a 5-star hotel, private guest suites for overnight visitors and on-site conveniences that include a supermarket, business centre, beauty salon and laundromat. The apartment complex was also recognized in the residential high-rise development category for Sri Lanka at the Asia Pacific Property Awards 2020-21.

April 27, 2021

Iconic Galaxy, the highly coveted luxury apartment complex by leading infrastructure developer Iconic Developments, experienced a surge in apartment sales given the search for self-sustained living spaces in the current pandemic landscape.

Combined with unprecedented low interest rates and convenient payment options offered by financial partners of the project, the developer has sold more than 80% of the 285 units available in the upscale locality of Rajagiriya.

“The pandemic had a significant impact on the perception and requirements of personal and safety needs of a home. It is no longer about just disconnecting from the world but ensuring that your home is situated in a self-contained environment equipped with amenities to make day to day living comfortable. As such, we are delighted with the significant demand and interest in the Iconic Galaxy and are proud to be offering a beautifully designed property that buyers expect and deserve,” Iconic Developments Managing Director Rohan Parikh said.

Constructed in line with international standards, Iconic Galaxy is equipped with world class amenities, offering unparalleled views and multiple conveniences at affordable rates.

Among the many features drawing buyers to Iconic Galaxy is the state-of-the-art 7-level private club, serviced guest suites, concierge service, and on-site conveniences that include a mini supermarket, business centre, banquet hall, rooftop cafe, beauty salon, spa complex, laundromat and electric car charging facilities.

Prospective homeowners of the Iconic Galaxy can avail of convenient payment options in addition to hassle-free home loans offered in partnership with leading Sri Lankan banks DFCC, HNB, NDB, Sampath Bank, Commercial Bank and Standard Chartered Bank. These multi-faceted partnerships offer customers special discounts and flexible repayment options.

The Iconic Galaxy will deliver 285 super-luxury, two, three, four and five bed-roomed apartments amidst a plethora of world-class amenities and services to complement the buyers’ lifestyles. Located in the prime of Rajagiriya’s upscale locality, the apartment complex is accessible from two roads and perched on the trunk route of the Buthgamuwa Road.

March 9, 2021

Leading infrastructure developer Iconic Developments announced that the unprecedented low interest rates on home loans, combined with the wide array of banking partnerships available for prospective homeowners of their apartment complex Iconic Galaxy, has contributed to building a safe and favourable landscape for investment.

Having earned its most loyal homeowners a value of around 20 – 30 per cent on their initial investment, Iconic Development’s construction of their newest luxury apartment complex is nearly fully complete are internationally minded and locally inspired and designed to the ‘pulse’ and ‘texture’ of Rajagiriya, imbibing the culture and the aspirations of the people.

“The COVID-19 pandemic and subsequent lockdown showed us the importance of building the ideal home – one which is self-contained and self-sufficient for peace of mind during these stressful times, but with the elegance and luxury to make day-to-day living a pleasure. The Iconic Galaxy truly fulfils those aims, and we’re delighted that we can offer this level of comfort and convenience to our prospective homeowners.

Through multiple financial partnerships with several banks, we have widened the scope of financing options available for homeowners. Adding to this, interest rates on home loans have recently plunged to single digits – customers should take advantage of these favourable conditions and take the leap of investing in the home of their dreams,” commented Iconic Developments (Pvt.) Ltd. Managing Director, Rohan Parikh.

The annual industry report published by the Research Intelligence Unit reaffirmed that the real estate industry as a whole has shown remarkable tenacity and resilience, despite the challenges posed by the pandemic. The eminent recommendation of the report was that the present time is especially favourable for investment, given the low-interest rates in the market.

Enhancing the ease with which customers are able to invest in an apartment, Iconic Developments has built strong financial partnerships with Sri Lanka’s premier financial institutions. Offering flexible payment options and special home loans for apartment buyers, Iconic Galaxy is affiliated with top Sri Lankan banks DFCC, HNB, NDB, Sampath Bank, Commercial Bank and Standard Chartered Bank.

The first to introduce a flood-proof construction and a rooftop landscape, the Iconic Galaxy will deliver 285 super-luxury, two, three, four and five bed-roomed apartments amidst a plethora of world-class amenities and services to complement the lifestyles of the buyers.

Located in the prime of Rajagiriya’s upscale locality, the apartment complex is accessible from two roads and is perched on the trunk route of the Buthgamuwa Road. True to its name, Iconic Galaxy provides a 7-level private club worthy of a 5-star hotel, private guest suites for overnight visitors and on-site conveniences that include a supermarket, business centre, beauty salon and laundromat.

January 20, 2021

Leading Indian infrastructure developer Iconic Developments is making headway towards timely completion of the construction of its luxury apartment complex Iconic Galaxy, located in Rajagiriya, and aims to hand over the apartment keys to the first customer by November this year.

“The progress we’ve made is tremendous, and the pace we maintained throughout all the obstacles of the last year is monumental. Our luxury apartment complex Iconic Galaxy will truly redefine the meaning of luxury living, and undoubtedly raise the benchmark in Rajagiriya and the surrounding vicinity. Through such great efforts and support, we are proud to announce that we are aiming to hand over the apartment keys to our first customer by the end of this year,” Iconic Developments Managing Director, Rohan Parikh said.

With the difficulties that were faced over the past year, mainly due to the unforeseen global pandemic that brought most economies to a complete halt, Iconic Developments alongside construction partner MAGA Engineering, was quick to re-strategize and ensure that the development of Iconic Galaxy continued seamlessly.

The 350-strong workforce is closely monitored and restricted to stringent protocols and precautions by supervisors, reassuring that nobody would be at risk of contracting the virus. Facilities are also in place to safely and swiftly deal with a situation if an employee within the construction zone was to test positive.

All onsite construction employees are subjected to temperature checks and periodical hygiene checks and must maintain strict sanitary measures. High use areas such as restrooms and eating areas are frequently sterilized as well. Any vehicle that enters the premises is also disinfected at the entrance with all employees encouraged to follow social distancing.

“We’re confident in the procedures we’ve undertaken to ensure the health and wellbeing of the workers, and we’ve also incorporated site safety measures which include site entry temperature checks, COVID-19 compliant personnel training, hand sanitizers and handwashing facilities to name a few,” Parikh added.

The Iconic Galaxy is set to deliver 285 super-luxury, two, three, four and five bed-roomed apartments amidst a plethora of world-class amenities and services. Accessible from two roads, the apartment complex is perched on the trunk route of Buthgamuwa Road. The apartment complex will be home to a 7-level private club worthy of a 5-star hotel, private guest suites for overnight visitors and on-site conveniences that include a supermarket, business centre, beauty salon and laundromat. A three bedroom show apartment has also been set up for prospective buyers at the site.

The apartment complex was also recognized in the residential high-rise development category for Sri Lanka at the Asia Pacific Property Awards 2020-21.

January 12, 2021

Leading infrastructure and property developer, Iconic Developments, announces the completion of the main structure of its latest high-end modern self-contained luxury living space, the Iconic Galaxy, situated in Rajagiriya’s upscale locality.

Internationally minded and locally inspired, the apartment complex is constructed and designed to the ‘pulse’ and ‘texture’ of Rajagiriya, imbibing the culture and the aspirations of the people. The completion of the main structure has been on schedule despite unexpected delays due to the pandemic.

“We are delighted to announce this monumental milestone in the creation of the Iconic Galaxy, as the building of this luxury site sets a new benchmark in the local construction industry. It is gratifying to see our vision of a self-contained building, that provides residents with everything they need, come to life,” commented Iconic Galaxy Managing Director Rohan Parikh.

Prospective buyers can visit the revamped Iconic Developments website for a scintillating 360° digital tour of the modern complex, inclusive of a virtual walkthrough and a dynamic customer service portal. Viewers are given the opportunity to explore the unique facilities of the modern complex, including its breathtaking zen gardens, observatory deck, and the model for a fully furnished two-bedroom apartment.

The luxury apartment complex also offers rooftop landscape gardens constructed to environmental standards, a 7-level private club worthy of a 5-star hotel, private guest suites for overnight visitors, and on-site conveniences that include a supermarket, business centre and beauty salon.

The first to introduce a flood-proof construction and a rooftop landscape, which is constructed to environmentally sustainable standards required locally and internationally, the Iconic Galaxy is set to deliver 272 super-luxury, two, three and four bed-roomed apartments amidst a plethora of world-class amenities and services to complement the lifestyles of the buyers.

Situated in the prime of Rajagiriya’s upscale locality, the apartment complex is accessible from two roads and is perched on the trunk route of the Buthgamuwa Road. The property’s excellent location offers easy access to the airport expressway, Colombo Fort and the Southern Expressway. Key features of Iconic Galaxy are its progressive design and aesthetics, offering a host of features like ample car parking, hazard-free underground cabling, 100% power backup and water supply.

Older Posts

JLL inaugurates property management office at Iconic Galaxy

Iconic Galaxy Starts Handover of Apartments to Clients

Iconic Developments organises Pirith ceremony to mark official handover of Iconic Galaxy apartments

CCC and Iconic Galaxy successfully host webinar on Sri Lanka’s prospects as a real estate investment attraction

Iconic Galaxy’s Privé apartments in high demand amongst new homeowners

Iconic Galaxy maintains urban green ecosystems in Rajagiriya

Iconic Galaxy experiences surge in apartment sales

Iconic Galaxy: the best time to invest in the home of your dreams

Iconic Galaxy – Heading towards timely completion despite many roadblocks

Iconic Developments announces completion of Iconic Galaxy main structure