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Old April 27th, 2016, 06:51 AM   #1
lordvader
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Balapitiya | DusitThani Sri Lanka Balapitiya Beachfront | 15fl | Proposed

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DusitThani Balapitiya to begin Rs 3 bn hotel
Apr 26 2016

Business
Shirajiv Sirimane [email protected]


An apartment cum hotel complex will be built in Balapitiya for the first time in the Sri Lankan construction history.

Branded as DusitThani Sri Lanka Balapitiya Beachfront, the first phase of the construction will commence in November and will be ready by 2018. The investment would be Rs. 3 billion making it the biggest mixed development project to be undertaken outside the Western Province.

The project will be built by Indola Group Pvt. Ltd, an Australian company into shoes and sports equipment and accessories store and exporting company and Dusit International, a 65 year old Thai based hospitality and education company.

The land has been acquired and the designer for the project is DesignTeam 3, Dusit International Vice President, Rustom Vickers said.

Under the first phase 126 units, accumulating to 248 keys will be built in a single tower of 15 floors.

The first phase will include around 40 rooms, an all-day dining restaurant, specialty restaurant, Pool Bar and Rooftop Bar, Spa, Fitness Centre, Swimming pools, and will also offer around 30 rooms which would be operated as a full service resorts hotel.

Vickers said this will be one of the closest apartment complexes to the beach and is one of the unique selling points. In addition free hold land of the project to foreigners with the new foreign land ownership laws too is another advantage.

“Sri Lanka too is now being looked at a favourable destination for both tourism and investment and this too is another “plus’. The Colombo airport is to be linked to the Southern highway soon and easy and quick access to the property also makes DusitThani Sri Lanka Balapitiya Beachfront’s intentional marketing easier.” “We have already started marketing and have received a good response from accross the world.”

Under the second phase a further 196 units, accumulating to 320+ keys will be built. This will imclude multi-purpose function space to be leased out to international fashion stores and a beach club with multiple F&B outlets.This will another Rs. 3.5 billion investment expected to start end of 2019. Vickers said this project will be a game changer for Sri Lanka and they would be creating and opening up a new destination for investment in Balapitiya.

“We have confidence in Sri Lanka and now we are looking at a carbon copy this project to be built in the Eastern province where we see potential to grow.”
http://www.dailynews.lk/?q=2016/04/26/business/79799

MORE INFORMATION: http://dusitthanisrilanka.com/
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Old March 7th, 2017, 07:30 AM   #2
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Sino Great Wall Engineering to build Dusit Thani Sri Lanka beach property
Mar 07, 2017 07:08 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT – China’s Sino Great Wall International Engineering has got the contract to build a high-rise five-star beachfront property in southern Sri Lanka under the brand of Dusit Thani, Thailand’s hotel and property development company.

Dusit Thani Sri Lanka is promising investors estimated returns of 8% a year or guaranteed returns of 6% net paid quarterly in US dollars for five years on its apartments on a 500-metre strip on the Balapitiya beach.

Buyers can lease back the apartments to Dusit Thani to manage with no ongoing costs. Owners get 21 day free stay each year and can expect potential capital gains.

“One bedroom ocean-view apartments priced from US$244,000 cost less than comparable property in Bali or the Maldives,” said Ajit Wijesinghe, a director of Indola Group, developer of the Beachfront Balapitiya property with hotel management company Dusit International.

Construction on the first phase of the property, comprising 162 apartments, starts 20 March 2017 and will take almost two years, he told a news conference.

“Balapitiya is one of the best beaches on the main tourist strip in Sri Lanka between Bentota and Galle,” Wijesinghe said. “The property is accessible from the southern expressway with a 90 minute drive from the Katunayake international airport.”

“We sold one tower and are now selling the second tower which is going very well,” he added. “We are guaranteeing 6% return which is much better than what you get in other countries. In Australia you’d be lucky to get 1-2%.”

About one third of the buyers are locals, one third expatriates and another third foreign investors, Wijesinghe said.

“We selected Balapitiya as we see a lot of growth potential in the southern beaches,” he said. “Thailand gets 30 million tourists a year and we have only two million. Sri Lanka has a long way to go. The only thing we don’t have is a luxury product down south.”

Paul Dwyer, director of Indola Group, said they expect to earn $200 million from retail sales when the entire property on eight and a half acres is complete.

Good beach front property on Sri Lanka’s southern coast was hard to get with the main road and rail track running close to the beach.

“It took us four and a half years to get the land,” Dwyer said. “Free hold title is very hard to get.”

Dusit Thani Sri Lanka will earn money from apartment sales and a management fee.

About 15% of the second tower has also been sold, Dwyer said.

Single bedroom apartments will be rented out for at least $200 a night.

Investors can buy penthouses for $3.5 million upwards.

Billy Tang, Sri Lanka Branch General Manager of Sino Great Wall International Engineering Pvt Ltd. a listed firm on the Shenzhen stock exchange, said they built the RIU Resort Hotel Project at Ahungalla.

Sino Great Wall International Engineering has also built 100 five-star hotels in China, he added.
(COLOMBO, March 07, 2017)
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Old March 12th, 2017, 03:16 AM   #3
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AHTIC discussion last December on Dusit Thani Balapitiya

https://www.youtube.com/watch?v=x89ytkZHcwk&t=996s
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Old April 5th, 2017, 04:07 PM   #4
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Dusit Thani Beachfront Balapitiya begins work



Dusit Thani Sri Lanka held their groundbreaking ceremony to celebrate the start of construction of The Beachfront Balapitiya, luxury, high-rise investment apartments to be built on 8.5 acres of land with 500 meters of beachfront in Balapitiya.

The project consists of three stages with stage one of the project to be completed by the first quarter of 2019.

The construction will be carried out by Sino Great Wall International Engineering from China who has experience in building five star hotels and apartments around the world. The Groundbreaking ceremony was held at an auspicious time with the blessing of Buddhist monks in attendance of Ajit Wijesinghe and Paul Dwyer, Directors of Indola Group and Hans Ruxue, Vice President and Billy Tang, Sri Lanka Branch General Manager from Sino Great Wall International Engineering.



http://dailynews.lk/2017/04/05/busin...ya-begins-work
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Old April 5th, 2017, 04:13 PM   #5
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Old May 19th, 2017, 07:58 PM   #6
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Old May 19th, 2017, 08:19 PM   #7
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Old May 21st, 2017, 08:55 PM   #8
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Can anyone provide an update on actual construction progress. When I drove past end April, a small crew were still putting up aluminium shuttering.. Seems to be slow progress?

Last edited by sneakyone; May 21st, 2017 at 09:07 PM.
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Old May 26th, 2017, 03:18 AM   #9
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First tower of Dusit Thani's Beachfront Balapitiya sold out


Ajit Wijesinghe (Director, Indola Group), Steve Waugh and Paul Dwyer (Director, Indola Group) at a promotion in Australia

One tower of Dusit Thani Sri Lanka's Beachfront Balapitiya was sold out last week stamping investor confidence, not only for the project but also for Sri Lanka.

This 14-floor beachfront tower consists of 44 apartments.

Indola Group Director Ajit Wijesinghe said that one-third of the second tower which is being built under the first stage too has been sold.

“The buyers are Sri Lankan expatriates and surprisingly foreigners, some whom have not even visited Sri Lanka.”

Wijesinghe said that they have a very strong marketing arm and had done several road shows in London, Australia and other countries which resulted in the sale of apartments. “Some apartments were also purchased upfront,” he said

Wijesinghe said that the buyers were from Australia, the UAE, Japan, the UK and Singapore.

“In a bid to attract more buyers we will be hosting another road show at Mandarin Orchard Hotel, Singapore in Saturday (27)."

He said that one of the biggest selling points of Dusit Thani Sri Lanka's Beachfront Balapitiya was the high return of investment.

Investors receive a freehold title and guaranteed returns of 6% nett per annum for five years that is paid quarterly in US dollars.

There is the potential of approximately 30% in capital gains over two years and no ongoing costs at all.

Additionally, apartment owners can use their apartment up to 21 days per annum free of charge.

Construction of the project has already started and the major contract was awarded to Sino Great Wall International Engineering Pvt Ltd (SGW) from China.

The project is being developed over three phases including a promenade featuring 15 international restaurants, cafes and bars, a luxury spa, sauna and gymnasium, 2,500 sq. metre convention centre, five swimming pools (including a rooftop infinity pool), a rooftop tennis court, a multi-faith chapel, 24/7 concierge, luggage, and security and valet services.

Sino Great Wall International Engineering is a listed company on the Shenzhen Stock Exchange and has many years of experience in construction, particularly in the overseas market.

“One of the reasons we chose Sino Great Wall Engineering is their experience in building five-star hotels around the world.”

The five-star property is designed by renowned Singaporean architectural firm Design Team 3 and managed by Thai hotel and apartment operators, Dusit International, one of the world leaders in authentic Thai hospitality.

Located on 500 metres of absolute pristine beachfront, each of the 514 apartments will feature a large private balcony, f-star designer interiors and stunning, uninterrupted ocean views.

The project is Sri Lanka’s one and only luxury beachfront high-rise investment apartments.

The event reaffirmed The Beachfront as Sri Lanka’s soon to be ‘go to destination’ with the property scheduled to open in end 2018. SS


http://www.dailynews.lk/2017/05/26/b...itiya-sold-out
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Old May 26th, 2017, 07:51 PM   #10
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Quote:
Originally Posted by Ragnarok123 View Post
First tower of Dusit Thani's Beachfront Balapitiya sold out


Ajit Wijesinghe (Director, Indola Group), Steve Waugh and Paul Dwyer (Director, Indola Group) at a promotion in Australia

One tower of Dusit Thani Sri Lanka's Beachfront Balapitiya was sold out last week stamping investor confidence, not only for the project but also for Sri Lanka.

This 14-floor beachfront tower consists of 44 apartments.

Indola Group Director Ajit Wijesinghe said that one-third of the second tower which is being built under the first stage too has been sold.

“The buyers are Sri Lankan expatriates and surprisingly foreigners, some whom have not even visited Sri Lanka.”

Wijesinghe said that they have a very strong marketing arm and had done several road shows in London, Australia and other countries which resulted in the sale of apartments. “Some apartments were also purchased upfront,” he said

Wijesinghe said that the buyers were from Australia, the UAE, Japan, the UK and Singapore.

“In a bid to attract more buyers we will be hosting another road show at Mandarin Orchard Hotel, Singapore in Saturday (27)."

He said that one of the biggest selling points of Dusit Thani Sri Lanka's Beachfront Balapitiya was the high return of investment.

Investors receive a freehold title and guaranteed returns of 6% nett per annum for five years that is paid quarterly in US dollars.

There is the potential of approximately 30% in capital gains over two years and no ongoing costs at all.

Additionally, apartment owners can use their apartment up to 21 days per annum free of charge.

Construction of the project has already started and the major contract was awarded to Sino Great Wall International Engineering Pvt Ltd (SGW) from China.

The project is being developed over three phases including a promenade featuring 15 international restaurants, cafes and bars, a luxury spa, sauna and gymnasium, 2,500 sq. metre convention centre, five swimming pools (including a rooftop infinity pool), a rooftop tennis court, a multi-faith chapel, 24/7 concierge, luggage, and security and valet services.

Sino Great Wall International Engineering is a listed company on the Shenzhen Stock Exchange and has many years of experience in construction, particularly in the overseas market.

“One of the reasons we chose Sino Great Wall Engineering is their experience in building five-star hotels around the world.”

The five-star property is designed by renowned Singaporean architectural firm Design Team 3 and managed by Thai hotel and apartment operators, Dusit International, one of the world leaders in authentic Thai hospitality.

Located on 500 metres of absolute pristine beachfront, each of the 514 apartments will feature a large private balcony, f-star designer interiors and stunning, uninterrupted ocean views.

The project is Sri Lanka’s one and only luxury beachfront high-rise investment apartments.

The event reaffirmed The Beachfront as Sri Lanka’s soon to be ‘go to destination’ with the property scheduled to open in end 2018. SS


http://www.dailynews.lk/2017/05/26/b...itiya-sold-out
I think Hotels around the coastline should be more eco friendly and eye catching rather than box buildings .Hotel Kandalama and Hotel Malu Malu doing great .Other wise our whole coastal area will look like heavily populated building box area.which will not be attractive to Tourists and government Should take actions to move Hotels ,Commercial and Residantal activities a little bit away from cost .Beach should be open for public not a private property of a Hotel or Someone
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Old May 26th, 2017, 11:13 PM   #11
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I think Hotels around the coastline should be more eco friendly and eye catching rather than box buildings .Hotel Kandalama and Hotel Malu Malu doing great .Other wise our whole coastal area will look like heavily populated building box area.which will not be attractive to Tourists and government Should take actions to move Hotels ,Commercial and Residantal activities a little bit away from cost .Beach should be open for public not a private property of a Hotel or Someone
Main problems are the Galle road and Matara Railway running close to the beach. Altering these routes would cost billions of dollars which Sri Lanka couldn't afford to spend. Land constrains forced developers to build high-rise structures such as Dusit Balapitiya, Marriott Weligama. On the east coast there are no major issues. Its not difficult to find large amounts for land for luxury projects. Kalpitiya is also suitable.
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Old May 27th, 2017, 02:42 AM   #12
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Main problems are the Galle road and Matara Railway running close to the beach. Altering these routes would cost billions of dollars which Sri Lanka couldn't afford to spend. Land constrains forced developers to build high-rise structures such as Dusit Balapitiya, Marriott Weligama. On the east coast there are no major issues. Its not difficult to find large amounts for land for luxury projects. Kalpitiya is also suitable.
Yeah Kalpitiya, Pasikudah and Kalkudah has an ample amount of sea front lands for such developments. But still, even in 2017 those areas receive just a fraction of tourist each year. And Kalpitiya is mainly for kite surfing and its dominated by budget tourism. So I think these multi-million projects are better to be set off on the southern coast.
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Old June 2nd, 2017, 08:45 AM   #13
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Yeah Kalpitiya, Pasikudah and Kalkudah has an ample amount of sea front lands for such developments. But still, even in 2017 those areas receive just a fraction of tourist each year. And Kalpitiya is mainly for kite surfing and its dominated by budget tourism. So I think these multi-million projects are better to be set off on the southern coast.
I think it's a matter of not being properly marketed. No one has so far taken a risk in going out there to build a proper hotel and market it. Everyone is trying to cash in on the west and southern coasts, because it's 'safe'.

All we need is one established company going and opening a hotel in the east and marketing it well.
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Old June 2nd, 2017, 09:00 AM   #14
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I think it's a matter of not being properly marketed. No one has so far taken a risk in going out there to build a proper hotel and market it. Everyone is trying to cash in on the west and southern coasts, because it's 'safe'.

All we need is one established company going and opening a hotel in the east and marketing it well.
At the moment any company, specially a foreign brand cant market a hotel in the east without domestic airport, charter flights, express way or a speed train.
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Old June 2nd, 2017, 01:13 PM   #15
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At the moment any company, specially a foreign brand cant market a hotel in the east without domestic airport, charter flights, express way or a speed train.
I disagree. What's needed is not roads and trains- people that are already going to the East go for a reason, mostly surfing and kitesurfing. That happened naturally, through word of mouth from foreigner to foreigner: no Sri Lankan agency or company bothered to market it that way. Even during the war tourists were going there in a slow trickle. If a company could market the area as a destination for adventure sports like surfing etc, and come up with events etc to keep it interesting, people will come. A road or train would make the journey easier, but that's not why the East isn't a bigger market right now.

If you were talking about attracting general holidaymakers, then yes, transport and ease of access plays a huge role. But if you meant the crowd that go for a very specific purpose, then no- those guys will go as long as they know it's worth it.
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Old June 15th, 2017, 02:44 AM   #16
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'Dusit Thani Balapitiya project would be a success'

JLL launches ‘Sri Lanka Land of Real Estate Opportunities’ report:

Global real estate consulting firm JLL launched a comprehensive new report titled ‘Sri Lanka – Land of Real Estate Opportunities’. The publication addresses a strong demand for accessible, in-depth analysis into the domestic property market.

Through the new report, JLL aims to create a dialogue on the varied challenges which local and international investors face when engaging in real estate transactions in Sri Lanka, in addition to enumerating on the unprecedented scope of opportunity for valuable investments in the country’s rapidly developing property sector.

“The launch of our report coincides with Sri Lanka’s first wave of high-end real estate development projects in both the residential and commercial segments,” said Steven Mayes, Managing Director, JLL Lanka (Pvt) Ltd. “This marks a significant milestone for the domestic market, which we believe holds the potential to become one of the South Asian region’s most promising success stories.”

“The launch of our report coincides with Sri Lanka’s first wave of high-end real estate development projects in both the residential and commercial segments,” said Steven Mayes, Managing Director, JLL Lanka (Pvt) Ltd. “This marks a significant milestone for the domestic market, which we believe holds the potential to become one of the South Asian region’s most promising success stories.”

He added, “There are challenges that need to be addressed, of course; Sri Lanka is prone to limited but notable downside risks, largely arising out of the currently subdued levels of Foreign Direct Investment and a high fiscal deficit. Nevertheless, we see strong demand for Grade A commercial office spaces.”

Coupled with the major growth potential over the medium-long term catalyzed by major infrastructure development projects like the Colombo International Financial City and the Western Region Megapolis, we believe that the overall outlook for the Sri Lankan real estate sector is strong.” He also said that they see the model of Dusit Thani Beachfront Balapitiya mixed development project as a successful one and a new concept for Sri Lanka. “The pricing is very attractive and the concept of managing by the owners and also giving a two week holiday for the owner per year too is attractive.”

He said that the Dusit Thani Beachfront Balapitiya model where they guarantee a return on investment of 6% too is very encouraging.”

Meanwhile Ajit Wijesinghe, Managing Director of Indola Group, developers of the Dusit Thani Sri Lanka, Beachfront Balapitiya had said, “The Sri Lankan Rupee has devalued more than 40% over the last 5 years, so effectively if you are receiving 13% from a local bank per annum and the rupee devalues 10%, then your actual earnings would only be 3% ( according to national statistics).

It is said that if one purchase a luxury Dusit Thani Beachfront Apartment at Balapitiya, Sri Lanka investments would grow.

In addition to this, we anticipate massive Capital Gains growth potential.”

The management guarantees a 6% return on investment per annum, paid in US$ for 5 years.

http://www.dailynews.lk/2017/06/15/b...uld-be-success
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Old July 30th, 2017, 08:48 AM   #17
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25th July


https://www.facebook.com/dusitthanis...type=3&theater
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Old September 1st, 2017, 05:03 AM   #18
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https://www.facebook.com/dusitthanis...type=3&theater
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Old September 1st, 2017, 07:54 AM   #19
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No proper safety standards on site.
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