Fairway Holdings to invest USD10.3 mn in mid-income apartment project

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June 22, 2015 (LBO) – Sri Lanka’s Fairway Holdings, a luxury high-rise developer says that they will be venturing into a 10.3 million US dollar mid-income apartment project.

“We have recognized that there is a need for mid-income apartments in the country,” Shivanka De Zoysa, Chief Operating Officer, Fairway Holdings said.

“So with this in mind, we have approached the Urban Development Authority (UDA) to allocate a land in Kolonnawa and awaiting their approval.”

The company has already completed 12 Board of Investment projects and has four ongoing projects.

The apartments will be built on a 195 perch land with the direction of architect Mohan De Silva, the company said.

“It will be a mixed development and consist of 128 apartments with three bedrooms,” Saminda Jayasekera, group Director, Human Resources and Admin told LBO.

“And will also have supermarket, bank and other shops.”

The company’s most recent venture is a luxury apartment project ‘Fairway Galle’ combining the convenience of contemporary living in southern coastal city.