45 storeyed Rs. 3 bn apartment high-rise to emerge in Rajagiriya

* Developer/ architect Milroy Perera of  "Kandalama fame" says only one of its kind in
the world with 160 apartments

* Environment friendly: Trees to grow right up to  the tallest floor

* Infrastructure to include swimming pool, tennis  and squash courts, 200 parking slots



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By Ravi Ladduwahetty


Colombo’s ever changing skyline will soon see a dramatic transformation with a brand new 45 storeyed apartment complex with 160 units to be built with local investment of Rs. 3 billion in the outskirts of Rajagiriya.


The piling and the civil works will commence early May and it is going to be the tallest high-rise in Colombo when it is completed in June 2014, the developer/ architect Milroy Perera told The Island Financial Review yesterday


The project will be constructed in a 200 perch (1.25 acres) block personally owned by him off Buthgamuwa Road, Rajagiriya which is almost adjacent to his private residence.


Milroy, co- architect to the iconic Geoffrey Bawa in the leisure rich- blue chip Aitken Spence conglomerate owned Kandalama Hotel, completed in 1994 amidst political controversy and turmoil, said that the fundamental difference between the Kandalama hotel and the current high-rise, will be that in contrast to Kandalama which was a horizontal structure, this will be a vertical structure.


"The entire concept will be an eco- friendly structure where each of the apartments will have fruit trees which includes some of the rare species of mango such as Gira Amba, Mee Amba and others which are gradually facing extinction along with other foliage and vegetables as well.


Each of the floors will have 2,000 square feet while the other related infrastructure will have a swimming pool, two squash courts, badminton court and a tennis court which will be over the roof of the car park.


He said that the possibility of having fruit trees was easy with each of the floors having a height of 22 feet and trees would be grown diametrically opposite on alternative floors.


Some of the unique features which will be available will be that solar electric cells will be fitted on the roof which will provide solar power to the complex while the sewage will be treated on site while water will be recycled to drip irrigate the plants. "This will be an exclusive combination of solar power generation, recycling of water and where there will be a heat convertor fixed to the air conditioning system which will generate hot water for the complex as well this will meet 60% of the hot water requirement of the complex," he said.


The project will be developed under the corporate name Clear Point Residencies (Pvt) Ltd will be a joint venture between Milroy, his sister Ms Sunetra Abeywickrema and construction giant Maga Holdings who will also be the contractors to the project. It will put in 55% of the equity of Rs. 500 million. The rest of the equity holders will be Milroy and his younger sister Ms Sunetra Abeywickrema who will be given equity for the land. There will be four Maga nominees on the Clear Point Residencies Board including Chairman Capt M.G. Kularatne while Milroy will have three nominees


The financial strategy would be to complete the piling of the project, the foundations and the structures which will be followed by pre-selling the rest of the complex which will bring in the funds for the completion.


The disgusting aspect of the entire project is that the Sri Lanka Land Reclamation Corporation has taken a period of three years for the site approvals, despite the Urban Development Authority having approved the project early. The SLLRC is yet prevaricating. There had also been the need for the approvals of the Department of Agrarian Services as his residential land has been classified as a paddy land !


 
 
 
 
 
 
 
 

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