Altair’s luxury apartment complex in Colombo 2 to be the 'tallest such building in South East Asia’


By Steve A. Morrell

Residential sites, high rise apartments, sprawling beach fronts and picturesque yet tranquil settings accompanied the rising demand for comfortable living within and outside Colombo.

Lamudi, a global property portal focusing exclusively on emerging markets offers an easy to use, market oriented presence on line.

Established in 2013 in Berlin, Germany, and spreading a current wide appeal in Mexico Columbia, and Peru, besides in Asian capitals in the Philippines, Bangladesh, Indonesia. Pakistan, and now Sri Lanka, in addition to countries in the Middle East, Lamudi proves to many, an enduring presence of integrity and dependability.

Besides on-going projects in Colombo, beach front developments by Dusit Thani in Balapitiya, for instance, on the Southern coast, will hopefully, transform the laid back fishing village of Balapitiya, from a typically fishing enclave to a slick traveler destination. Add to that concept the smart residential alternative away from the humdrum of the metropolis. The results could be just the right ingredients to beat the plague of traffic snarls.

At a press conference convened last week, Head of marketing and PR, Lamudi Lk, Vivek Sadananthan said the mainstream for traveler destinations decidedly moved to Sri Lanka and its demand driven atmosphere was of traveller interest.

He said Lamudi was, considering its world wide stance, and international connections, currently in an area of positive commitment that would stave off subterfuge or disruption.

Head of Sales and Marketing , Altair, Indocian Developers ( Pvt) Ltd., Jay Dias, said their substantial investment was the construction of a 68 storey building in Colombo 2.It will be the tallest such complex in South East Asia. Expected date for completion was 2018. However, of great interest is the fact that 55 % of apartments were sold and paid for, long before completion. Apartments were priced from 488,000 $, to 3 Million $.

Questioned by the press he said apartments already purchased were by Sri Lankans but he also made the point that for that price, there were more Lankan purchasers of these apartments living abroad. He was confident that all apartments would be fully paid for on completion.

Answering further questions from the press Dias said approval for the building took two years, which he said was expected, because such delays were anticipated. He further agreed that in Singapore approval for buildings was done on line; also that such building plans were submitted in three dimensions. And more importantly, plans were approved in just two hours, and not two years.

He said two years was not too bad, considering that in India such approvals took five years.

"We did not select a Sri Lankan architect, because we have been working with those we know. We are aware of the work Bawa did, so too some others. This did not mean your people were rejected."

Director Dusit Thani Paul Dwyer, explaining the beach extent of Ambalangoda and Balapitiya said the new Dusit Thani Sri Lanka Beachfront, Balapitiya, stage 1 will comprise 136 luxury apartments, located on 450 meters of beach land.

The three stage master plan will include Tower one two and three when completed. It will also include in addition to well built apartments, tourist accommodation for short stays and the Dusit Thani Hotel too would be planned.

Aitken Spence Residencies CEO Shane de Silva said their concentration was on single homes and development of the family unit.

We also interviewed representatives from Commercial Bank. They were unable to expand on the old concept of banking, that loans will depend on collateral.

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