This premium real estate opportunity offers investors a rare entry into a large-scale, pre-approved luxury apartment development in Colombo. It combines high-rise living, smart-home design and long-term tax advantages under a BOI framework. With groundwork completed, confirmed buyer demand and a clear path to profitability, it is positioned as a de-risked, high-potential project for international investors seeking exposure to Sri Lanka’s growing property market.
Why this opportunity stands out
Set-up, as presented. The developer states that the land is privately owned and would be positioned as security; the terms of any security structure would be set out in the investor pack. Project materials say approvals are secured and piling is complete, and that the main construction bid has been placed with a reputable international contractor (budgeted at ~USD 100M).
Developer-reported market interest. The developer reports that over 100 interested customers have been identified, 143 of 580 units are reserved (expressions of interest and reservations), USD 23M of sales value is reserved and USD 4.5M in advances has been collected.
Project overview
Scale and design
- Two 50-floor towers: 2 basements + 8 podium levels + 40 residential floors
- Total construction area ~1.1M sq ft; sellable area 590,000 sq ft
- Ceiling height 12 ft; apartment sizes 550–4,000 sq ft
- Architectural design by P&T Architects (Singapore)
Unit mix (examples)
| Type | Size (sq ft) |
|---|---|
| 2 bedroom | 576 / 898 |
| 3 bedroom | 1,110 / 1,241 / 1,260 |
| 12 suites | 2,506 |
| 6 duplex penthouses | 4,213 |
| 2 grand penthouses | 4,156 |
Pricing and positioning
- Average target price ~USD 338 per sq ft (lower floors ~20% below average, upper floors ~20% above)
- Positioned ~20% below selected Tier-1 Colombo competitors
- “Smart apartment” specification: German appliances, phone-controlled lighting
Land and regulatory
- Land: 180 perch (≈1 acre + 20 perch), privately owned
- Indicative land value ~USD 18M (USD 100,000 per perch)
- Described as eligible for BOI incentives, subject to BOI approval terms and conditions
Tier-1 lifestyle features
- Residential-only privacy: no hotel or mall mixed into the building
- Chauffeured limousine service (fleet of 20 Mercedes-Benz cars for residents, fuel cost only)
- Helicopter access concept for owners, a first in Sri Lanka
- Private mini cinema, 360° revolving sky restaurant overlooking the Indian Ocean
- One of Sri Lanka’s highest sky bridges
- 24/7 medical centre with on-site ambulances; defibrillators on every fifth floor
Investment and returns (as presented)
| Item | Figure |
|---|---|
| Projected sales value | USD 200M |
| Estimated project cost | ~USD 134M |
| Projected profit | ~USD 66M (some materials state USD 50M) |
| Indicative payback | ~4 years |
| Funding timeline | Y1 USD 35M · Y2 USD 35M · Y3 USD 30M |
| Profit split | Flexible, subject to negotiation |
The developer states willingness to sign agreements for ROI assurance and to structure security using assets and profit-share mechanisms; those terms would be set out in the investor pack. Investors should validate all assumptions through due diligence.
Figures are as presented by the project owner or public sources and have not been independently audited. This page is general information, not investment, legal or tax advice. Investors should complete their own due diligence.
Frequently asked questions
Where is the project located?
In the heart of Colombo, Sri Lanka’s commercial capital, in one of the city’s most desirable residential zones. The exact address is shared with qualified investors.
What approvals does the project have?
The project materials state that all statutory approvals have been obtained and that the land is fully privately owned. The project is described as eligible for BOI incentives, subject to BOI approval terms and conditions. Investors should confirm the current approval status and any incentive terms in due diligence and in the investor pack.
What stage is the project at?
Piling and foundation works are complete and the project is ready to proceed to full construction in a “plug & play” format with no outstanding planning barriers.
How much investment is required?
About USD 100M in total, staged as USD 35M in year 1, USD 35M in year 2 and USD 30M in year 3, depending on the engagement structure.
What is the return potential?
Per the project materials, the projected sales value is about USD 200M with a projected project profit of roughly USD 50–66M (an indicated ROI of about 50–66%) and a payback period of about four years. Investors should validate the assumptions in due diligence.
Is there proven demand?
According to the developer, more than 100 buyers have expressed interest, 143 reservations have been recorded (expressions of interest and reservations), and about USD 23M of sales are described as reserved, including USD 4.5M in advances collected. These figures have not been independently audited.
Who is the investment suitable for?
Qualified investors, investment groups, private funds and developers seeking exposure to an emerging real estate market with growth potential.
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