Sanken Group Archives

September 8, 2023

Catering to the increasing demand for luxury urban living, Sri Lanka’s leading private sector bank HNB PLC, renewed its partnership with premium real estate developer, Capitol Towers Ltd of the renowned Sanken Group, to offer housing loans and special promotions to HNB Club and Priority Circle members.

Housing a range of high-end, stylish apartment units, the promotion is exclusively available for prospective homeowners of Capitol TwinPeaks, and is only valid until 31.03.2024. Capitol Towers Ltd. Chief Operating Officer Dhammike Wasanthakumara, Capitol Towers Ltd. Senior Sales Manager Chandrasekeram Thuwaregan, HNB Deputy General Manager – Retail Banking Group, Sanjay Wijemanne and HNB Head of Personal Financial Services, Kanchana Karunagama were present at a ceremony held to renew the partnership.

“We are excited to offer the next generation of affordable luxury to our highly select Club and Priority circle customers, with a wide range of custom financial services and special promotions. Market trends indicate that many residents are shifting towards urban living, as they offer comfort, convenience and additional facilities in addition to being an investment opportunity. As banking partner to the nation, we will always work towards ensuring our customers have the most competitive rates and facilities available in the country,” said HNB Head of Personal Financial Services, Kanchana Karunagama.

During the promotion period, HNB will offer their priority customers convenient and flexible home loans at some of the most competitive rates in the market. Committed to delivering maximum value to its customers, the bank also provides convenient and flexible repayment options tailor-made to their budget.

HNB’s dedicated agents will also provide doorstep mortgage advisory services by assisting customers with all legal documentation needed for the facility.

“The renewal of our partnership with HNB is a testament to their continued excellence and services for the industry, and is indicative of our commitment towards offering the best financing possible for prospective homeowners,” stated Capitol Towers Ltd. Chief Operating Officer Dhammike Wasanthakumara.

Capitol TwinPeaks is a 50-storey twin skyscraper with 475 luxury Apartments located at No. 24, Staple Street, Colombo 02. The complex is set to offer a range of world-class amenities and services, including star-class restaurants and bars located at the 50th level where the twin towers are connected by a Sky Bridge; South Asia’s highest. Capitol Towers Ltd, a subsidiary of Capitol Developers Ltd and a member of the Sanken Group, developed Capitol TwinPeaks in collaboration with Sanken Construction Pvt Ltd and P&T Group Architects of Singapore. With nearly 80% its inventory sold and over 250 Apartments handed over to the owners, Capitol TwinPeaks is entering into the final leg of its sales drive.

With 254 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Over the recent past, the bank was ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine. HNB has a national rating of A (lka) by Fitch Ratings (Lanka) Ltd.

HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020. The bank further won the Award for the Best Retail Bank in Sri Lanka for the 11th time at the Asian Banker Awards 2020, in recognition of its sustainable growth and continuous improvements in processes, products and services amidst a challenging macroeconomic environment.

August 30, 2020

Capitol TwinPeaks breaks the traditional method of import financing mould by activating a Usance LC facility, with a 720-day payment settlement period secured through an offshore partner
Capitol TwinPeaks is now able to import raw material until project completion in end June 2021 sans foreign exchange outflow from the economy

Colombo, Sri Lanka – August 2020 – Hatton National Bank (HNB) and People’s Bank together with the Sanken Group signed an agreement, on 12th August 2020, to ensure balance funding, for the completion of “Capitol TwinPeaks” – the 50-storey twin-tower mixed development project located at Staple Street, Colombo 2.

The recently signed partnership stands as a testament with a vote of confidence by the banks in the Sanken Group’s capacity to deliver on its real estate promise for its investors and residents, whilst also acting as a signifier to potential international and local clientele of the strategy Sanken has envisioned to aid in uplifting the nation.

Speaking with Managing Director – Capitol TwinPeaks, Rohana Wannigama commented “The Group made the strategic decision to complete ‘Capitol TwinPeaks’ Superstructure well ahead and to order most of the crucial imports, ahead of schedule, especially to mitigate foreign currency fluctuation risks. This organised and precision planning of Sanken, which is deeply rooted in our Japanese-Mitsui DNA has allowed the project to maintain safety, product quality, timely delivery and also to keep cost escalations under control. All balance raw material that are to be imported are getting cleared by relevant local authorities at present, leaving no reason for the work process to slow down. Through the financial partnership with HNB and People’s Bank, we aim to expedite the remaining construction work, whilst also adhering to Central Bank regulations, in order to support the continued growth of the Sri Lankan economy.”

As a resultant of post-COVID-19 restrictions imposed by the Central Bank to control foreign exchange outflow from the country, a large percentage of the real estate industry is currently facing delays when establishing letters of credit to import materials for finishes. An additional major hindrance is the freezing of importation of some vital raw materials for the construction sector. However, the Sanken Group has been able to structure a Usance LC facility through their bankers and an off-shore partner to overcome this foreign exchange outflow restriction whilst ensuring an uninterrupted inflow of imported raw materials necessary for Capitol TwinPeaks, the project has been able to vastly reduce the strain on import payments affecting the real estate contribution to national growth. Capitol TwinPeaks has been able to continually inject foreign exchange into the local economy through foreign currency investments made directly by the project’s expatriate and foreign buyers.

Concluding, Chairman, Sanken Group – Mahen Weeresekera noted “We commend HNB and People’s Bank for their positive approach to the opportunity to partner with Sanken Group as we go forward in the construction process to provide a completed project. Through our timely decision-making, we are able to ensure a final, quality product for our customers, whilst easing the strain on a currently recuperating economy.”

Resulting from the Sanken Group’s forward-thinking, the present and future clientele of Capitol TwinPeaks can be reassured that the Sanken Group’s Contractor and Developer partnership shares the common goal of ensuring the completion of the project, through a multifaceted approach in overcoming financial and material challenges, currently apparent across the globe.

December 10, 2017

Sanken Construction is going full steam ahead with the construction of the iconic Capitol TwinPeaks and in fact is well ahead of schedule. Completing the first year of its 4-year build as one of the most coveted luxury projects in the city’s upscale area, Capitol TwinPeaks at 24, Staple Street, Colombo 2, will offer the privacy and exclusivity of a purely residential project. Located on the waterfront of the picturesque Beira Lake, it offers proximity to prestigious shopping malls, hospitals, schools and all other conveniences. Capitol TwinPeaks is one of four giant real estate projects coming up along the lake, which will transform the area into the premier address in Colombo and a preferred lifestyle destination among these skyscrapers. Scheduled to be ready for occupation by end-2020, Capitol TwinPeaks is envisioned for a rarified lifestyle and no effort has been spared to extend every imaginable creature comfort for its residents.

This ambitious project is being developed by Capitol Developers, a member of the reputable construction conglomerate, the Sanken Group. All properties developed by Capitol Developers have been contracted to Sanken Construction (Pvt) Ltd., the most trusted name in the construction industry, which guarantees timely delivery of the apartments to buyers along with the hallmark construction quality of the Sanken brand.

Sanken has a reliable track record in world-class quality construction, which reflects its roots in the Fortune 500 Japanese Mitsui Construction Company. Rooted deep in the global corporate environment through Mitsui, Sanken is the pioneer and forerunner of the construction industry in the island.

The Sanken Group has over 12 subsidiaries and associate companies dealing primarily with the construction trade – San Piling, San Mech, San Trading, Mesas International, Vonlan Construction, San ReadyMix, Sanhill Engineering, City Concrete, J&S Metal Crushers and internationally with Sanken Australia and Sanken Precision (Engineering India). Backed by engineering excellence and superior quality systems, the company has become synonymous with quality construction, spearheading some of the most prominent landmark structures in the country. Gregory’s Seventh Sense, On320 Apartments, Empire, Emperor, Cinnamon Red and The Movenpick to name but a few.

With the significant expansion in the international business, a fully dedicated company for international construction was formed as Sanken Overseas (Pvt.) Ltd in 2004, and it has since grown to be a multi-faceted conglomerate offering services par excellence, through the acquired expertise and innovative diversity of the group’s sister companies.

Sanken is the most trusted name in the construction industry today, synonymous with timely delivery along with its hallmark construction quality.

HNB offers exclusive benefits on home loans for Capitol TwinPeaks Apartments

HNB and People’s Bank partner with the Sanken Group to finance “Capitol TwinPeaks” together, to completion

Sanken Group’s Capitol Developers completes one year of Capitol TwinPeaks