URBAN GATEWAY Archives

April 19, 2022

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Kelsey Developments PLC’s (Kelsey Homes) robust fundamentals and strategic investments together with the company’s deep ties with its customers and business partners enabled the pioneering real estate developer to tide over challenging market conditions and register modest yet steady revenue growth during the third quarter of FY 2021 – 22.

Sustained interest in units in CENTRAL PARK JA-ELA and URBAN GATEWAY KOTTAWA projects helped Kelsey Homes secure total reservations with an expected sales value of LKR. 4.66 Bn, as of 31^st December 2021 with the revenues set to be recognized in the coming months with project progress. The company reported LKR. 149.92 million in revenue for the 9 months ended 31^st December 2021

“Kelsey Homes has established itself as a trusted pioneer offering distinct, premium properties that provide exceptional value to customers. We strive to empower more Sri Lankans here and overseas to reap the benefits of investing in real estate through our portfolio of ultra-modern living spaces that come with the finest amenities and a world of benefits. This in turn has enabled us to deliver steady returns to our investors while continuing to add value to all other stakeholders,” said Eardley Perera, Chairman of Kelsey Developments PLC.

“Despite challenging global and local economic conditions and prevailing uncertainties, we have faith in the growth potential of Sri Lanka’s real estate sector. We look forward to working more closely with our business partners including banks, contractors and suppliers to see how we can collectively provide better living environments for Sri Lankans support their aspirations in these trying times.”

While the pandemic had a significant impact on business operations through 2020 and 2021, Kelsey Homes successfully concluded the sales of all units of CENTRAL PARK JA-ELA Phase I and II in FY 2020-21 and is now on the verge of completing the sale of all units in Phase III of the project. The Company had acquired an 82 perch prime property in Nugegoda, a neighbourhood that has high market value and demand, to begin construction of an iconic 100-unit apartment complex during 2022. Holding inventories to the tune of LKR. 2.06 Bn in estimated sale value, as of 31^st December 2021, the developer is currently focusing its efforts on the sales of its existing projects while actively seeking out other properties for future developments.

“Our record of delivering high-quality living spaces that also serve as great investment vehicles for over 35 years has helped us emerge as one of the nation’s preferred real estate developers. Our commitment to delivering highly valuable, premier living spaces is reflected in the multitude of recognitions we received at the recent PropertyGuru Asia Property Awards (Sri Lanka) where we bagged the Best Lifestyle Developer in Sri Lanka and the Best Architectural design in Sri Lanka awards for Central Park, Ja Ela as well as commendations in the Best Condo Development (Colombo Metropolitan Region) and Best Housing Development (Colombo). This has enabled us to maintain our sales and revenue growth despite prevailing market conditions. We are seeing steady demand from a growing segment of prospective homeowners who appreciate the value offered by our affordable housing units like Central Park which are high on features and amenities. Encouraged by the response, we look forward to offering more units of this kind to enable more Sri Lankans to realise their dream of owning a home,” said Lalinda Kalubowila, Chief Executive Officer of Kelsey Developments PLC.

Kelsey Homes has a rich legacy of shaping the country’s residential property landscape for over 35 years with over 200 real estate and housing projects and more than 2,000 highly satisfied customers. The Company has grown into one of the country’s most trusted premier developers, renowned for beautifully designed, high-quality homes delivered within expectations. Its focus on quality and innovation, astute management of its resources and operations and strategic investments together with the strength of its parent company, Janashakthi Group; give it the firm footing required to drive sustained growth in a post-COVID-19 world.

January 20, 2021

Last 2 units remaining for aspiring homeowners to purchase.

Gated Development of 30 Housing Units
Last 2 units available
650m to Kottawa Highway Interchange
4/5 Bedroom and 4/5 Bathrooms,
LKR 22.9 million upwards
Exclusive discount of LKR 1 million
Ready to Occupy by March 2021

20^th January 2021, Colombo: URBAN GATEWAY, the exclusive gated development in Kottawa has been a highly sought after property since the unveiling of its Model unit back in January 2020. Supported by the impeccable, trustworthy credentials of Kelsey Homes, 28 units of the project has been booked by very satisfied customers who are planning to occupy in March 2021 and there are only the last 2 units remaining for aspiring homeowners. Each housing unit at URBAN GATEWAY is priced from Rs.22.9 Million upwards, with the price per sq. ft being one of the lowest in the market at the moment. Potential buyers can enjoy a discount of Rs. 1 Million if they make a reservation by 31^st January 2021.

Eardley Perera, Chairman of Kelsey Developments PLC said “We are pleased with how far the development of URBAN GATEWAY Kottawa has come. In spite of the prevailing situation, we have managed to bring this development to near completion. We look forward to continuing to provide affordable gated developments like URBAN GATEWAY for aspirational homeowners in the future”

Lalinda Kalubowila, CEO of Kelsey Developments PLC said, “We are thrilled with the high occupancy of URBAN GATEWAY Kottawa and we’re looking forward to meeting prospective buyers for the remaining housing units. We are pleased that we have a near complete development now at URBAN GATEWAY and we are confident that the compound will be fully occupied by March in line with our original plan.”

URBAN GATEWAY Kottawa consists of 30 housing units set in a gated development. There are two types of units consisting 1700sqft (floor area) + 600sqft (rooftop), each with 4 or 5 air conditioned bedrooms and a maid’s quarters. All housing units are equipped with fittings and fixtures of the highest quality, including kitchen cabinets with hood and hob; a garden space; a covered parking space and an open plan rooftop. Homeowners will also have amenities such as a gymnasium, swimming pool, clubhouse and 24/7 security within the gated development.

Moreover, the location provides convenient access to the city of Colombo and the Southern Province, with easy access to both the Southern Expressway and the Outer Circular Expressway from Kottawa. With the upcoming improvements to the country’s infrastructure, URBAN GATEWAY is the ideal location for those who require access to the network of Expressways.

About Kelsey Homes: Kelsey Homes (Pvt) Ltd., is a premier property developer in Sri Lanka, with a rich heritage and a portfolio of over 200 real estate and housing projects and 2000+ satisfied customers. A fully owned subsidiary of Kelsey Developments PLC (a member of the Janashakthi Group of companies) Kelsey Homes is an industry pioneer that has delivered an array of living solutions and exclusive developments. Established in 1983, the company is a truly trusted developer known for delivering on its promises. The company is also dedicated to providing customers with high quality, beautifully designed homes within a gated environment and, 24-hour security. E.g.: TEMPLER’S SQUARE, Templer’s Road, Mount Lavinia. This is a highly successful project completed by Kelsey Homes, and it comprises of an exclusive gated housing development of 100 houses. These elegant homes set on six acres of prime land have had unprecedented value appreciation in the succeeding years. As a reflection of the company’s confidence and commitment, all homes include a 12-month defects liability period.

Kelsey Homes Continues Steady Growth in Q3 2021 Despite Challenging Times

URBAN GATEWAY by Kelsey Homes: Ready to Occupy by March 2021