Crystal Property Group raises Rs180mn equity investment from Singapore firm

CPG-Directors

Dr Dinuk Jayasuriya, Reza Magdon-Ismail, Kumar Sangakkara & Brett Negus

Crystal Property Group Pvt Ltd (CPG), developers of Sri-Lanka’s first boutique condo hotel Crystal Sands – Villas in the Sky (www.crystalsands.lk) successfully raised a LKR 180 Million equity investment from a Singapore based investment firm focused on coastal real estate development. With this investment CPG will focus on further growth opportunities in Sri-Lanka’s real estate space.

Kumar Sangakkara – Director – Chairman of CPG said: I’m excited about this new investment. Our focus for CPG, is to be recognized as a trusted brand that delivers projects of true value, furthering Sri-Lanka’s positioning as a premier destination with multiple real estate investment opportunities.”

Dr. Dinuk Jayasuriya – Director – Founder of CPG said: “When I founded the Company in 2016, as a Sri-Lankan Australian, my vision for CPG was to drive forward the potential of Sri-Lanka’s real estate and create a positive impact on the Sri-Lankan Economy. With this strategic investment, we can come closer to realising this goal.”

Reza Magdon-Ismail – Director – CEO of CPG said: “This strategic partnership provides us with a strong platform to establish our first development Crystal Sands as a premium product in the serviced condominium space. With construction successfully underway, we are now focused on ensuring a finished product of the highest standards and establishing an operational and service model that provides a first-class experience to anyone that visits our Villas in the Sky. With this foundation in place we are now looking ahead with intent, to develop multiple real estate assets that generate attractive yields and experiences for CPG, our investors and end users.”

Media Release