Mar 09 (LBO) – A group of Singaporean investors will put in US$ 6 million to build a luxury condominium complex in hill country Kandy. A pilot project for Dynasty Developments Pvt Ltd, construction of the apartments block is to begin end March this year and be completed by third quarter 2007.
About 12 of the 53 luxury apartments have already been sold, costing between Rs9 million for apartments and Rs41 million for penthouses.
The Board of Investment approved company hopes to eventually set up new projects in coastal areas and tourist hot spots like Nuwara Eliya.
“Our intention is to go beyond Kandy into other major cities as well, like Nuwara Eliya or other coastal towns,” Ajith Jayaratne, Chairman of Dynasty Developments, told journalists on Thursday.
A SriLankan Airlines amphibious Air Taxi service that operates to Sri Lanka’s hill capital Kandy, is expected to be an added attraction.
-Zainab Ibrahim: email@example.com