One tower of Dusit Thani Sri Lanka's Beachfront Balapitiya was sold out last week stamping investor confidence, not only for the project but also for Sri Lanka.
This 14-floor beachfront tower consists of 44 apartments.
Indola Group Director Ajit Wijesinghe said that one-third of the second tower which is being built under the first stage too has been sold.
“The buyers are Sri Lankan expatriates and surprisingly foreigners, some whom have not even visited Sri Lanka.”
Wijesinghe said that they have a very strong marketing arm and had done several road shows in London, Australia and other countries which resulted in the sale of apartments. “Some apartments were also purchased upfront,” he said
Wijesinghe said that the buyers were from Australia, the UAE, Japan, the UK and Singapore.
“In a bid to attract more buyers we will be hosting another road show at Mandarin Orchard Hotel, Singapore in Saturday (27)."
He said that one of the biggest selling points of Dusit Thani Sri Lanka's Beachfront Balapitiya was the high return of investment.
Investors receive a freehold title and guaranteed returns of 6% nett per annum for five years that is paid quarterly in US dollars.
There is the potential of approximately 30% in capital gains over two years and no ongoing costs at all.
Additionally, apartment owners can use their apartment up to 21 days per annum free of charge.
Construction of the project has already started and the major contract was awarded to Sino Great Wall International Engineering Pvt Ltd (SGW) from China.
The project is being developed over three phases including a promenade featuring 15 international restaurants, cafes and bars, a luxury spa, sauna and gymnasium, 2,500 sq. metre convention centre, five swimming pools (including a rooftop infinity pool), a rooftop tennis court, a multi-faith chapel, 24/7 concierge, luggage, and security and valet services.
Sino Great Wall International Engineering is a listed company on the Shenzhen Stock Exchange and has many years of experience in construction, particularly in the overseas market.
“One of the reasons we chose Sino Great Wall Engineering is their experience in building five-star hotels around the world.”
The five-star property is designed by renowned Singaporean architectural firm Design Team 3 and managed by Thai hotel and apartment operators, Dusit International, one of the world leaders in authentic Thai hospitality.
Located on 500 metres of absolute pristine beachfront, each of the 514 apartments will feature a large private balcony, f-star designer interiors and stunning, uninterrupted ocean views.
The project is Sri Lanka’s one and only luxury beachfront high-rise investment apartments.
The event reaffirmed The Beachfront as Sri Lanka’s soon to be ‘go to destination’ with the property scheduled to open in end 2018. SS
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