serendib
January 16th, 2006, 11:38 PM
John Keells Holdings Ltd. have recently invested Rs.2 billion ( 20 million us$0 in building the country’s tallest apartment building - ‘Emperor' apartment complex in Colombo 03.
The proposed building will consist of 35 floors with 175 apartments and a presidential suite. The construction is to commence early this year and expected to finish within 52 months.
JKH Managing Director Ajith Gunawardene stated, “This was a Rs.3.5 billion investment and we have almost recovered this investment. The Group is confident that there would be the same response for this project since the demand for apartments are growing in Colombo.”
The Group recently re-branded their hotels under the Cinnamon brand investing Rs.2.1 billion to refurbish and re-brand the Colombo Plaza as Cinnamon Grand last month. The Group is also looking at re-branding Trans Asia as Cinnamon Lake in 2006 followed by their other hotels in Sri Lanka and Maldives to come under the new branding.
Sri Lanka will also see its tallest building, the 45 storied Celestial Residencies being completed in 2007 while construction also began on the Havelock City, which would include an eight-block condominium.
In addition London based investor Phylix Selvadurai will also construct the second phase of the Global Towers at Colombo 6 while several other up market residential complexes have commenced construction.
The proposed building will consist of 35 floors with 175 apartments and a presidential suite. The construction is to commence early this year and expected to finish within 52 months.
JKH Managing Director Ajith Gunawardene stated, “This was a Rs.3.5 billion investment and we have almost recovered this investment. The Group is confident that there would be the same response for this project since the demand for apartments are growing in Colombo.”
The Group recently re-branded their hotels under the Cinnamon brand investing Rs.2.1 billion to refurbish and re-brand the Colombo Plaza as Cinnamon Grand last month. The Group is also looking at re-branding Trans Asia as Cinnamon Lake in 2006 followed by their other hotels in Sri Lanka and Maldives to come under the new branding.
Sri Lanka will also see its tallest building, the 45 storied Celestial Residencies being completed in 2007 while construction also began on the Havelock City, which would include an eight-block condominium.
In addition London based investor Phylix Selvadurai will also construct the second phase of the Global Towers at Colombo 6 while several other up market residential complexes have commenced construction.