daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > Asian Forums > Asian Skyscraper Forums > South Asia > Sri Lanka > Construction Projects

Construction Projects Updating construction projects be it proposed, u/c or completed



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old April 18th, 2017, 06:36 PM   #21
ak892
Registered User
 
ak892's Avatar
 
Join Date: Apr 2013
Posts: 849
Likes (Received): 1225

I take it one tower will be for just high end apartments and the other will have just hotel rooms, restaurants, banquet/conference rooms etc.

Any chance that there will be a shopping mall?

Would have been good if instead of apartments they made it into offices. Feel like surely the demand for such apartments must be decreasing with the amount of supply currently on offer.
ak892 no está en línea   Reply With Quote

Sponsored Links
Old April 18th, 2017, 07:19 PM   #22
MarbleBeach
Registered User
 
MarbleBeach's Avatar
 
Join Date: Jan 2013
Posts: 414
Likes (Received): 140

Quote:
Originally Posted by Popthepuff View Post
Only 250 million for a project of this magnitude?
MarbleBeach no está en línea   Reply With Quote
Old April 18th, 2017, 10:06 PM   #23
EshE
Registered User
 
Join Date: Oct 2011
Location: Colombo
Posts: 234
Likes (Received): 180

Quote:
Originally Posted by MarbleBeach View Post
Only 250 million for a project of this magnitude?
Its USD 250m, should be quite enough for this project (around LKR 37.5 billion).
__________________

arjahanSL liked this post
EshE no está en línea   Reply With Quote
Old April 19th, 2017, 02:52 PM   #24
Ragnarok123
Registered User
 
Ragnarok123's Avatar
 
Join Date: Jan 2017
Location: Melbourne
Posts: 812
Likes (Received): 1156

https://www.youtube.com/watch?v=zFdfH87SWY4
Ragnarok123 no está en línea   Reply With Quote
Old April 19th, 2017, 07:41 PM   #25
MarbleBeach
Registered User
 
MarbleBeach's Avatar
 
Join Date: Jan 2013
Posts: 414
Likes (Received): 140

Quote:
Originally Posted by EshE View Post
Its USD 250m, should be quite enough for this project (around LKR 37.5 billion).
I was aware that it was in dollars.
MarbleBeach no está en línea   Reply With Quote
Old April 20th, 2017, 04:01 AM   #26
Ragnarok123
Registered User
 
Ragnarok123's Avatar
 
Join Date: Jan 2017
Location: Melbourne
Posts: 812
Likes (Received): 1156

Sri Lanka among top 4 in real estate sector


Horton Square CEO Paul Kelly. Picture by Saliya Rupasinghe
Sri Lanka is fast gaining recognition as one of the top four destinations for investments in the real estate sector for both Chinese and Japanese investors, Horton Square project CEO Paul Kelly said.

Speaking to Daily News Business he said the foreign investors know this trend and are investing in large condominium projects in Sri Lanka. “However I am not sure if Sri Lankans know about this plus factor.”

Kelly said that for Chinese and Japanese their best investment destinations are Australia, USA and Singapore. “However today, all these three destinations (including India) are more expensive than Sri Lanka.”

He said stamp duties in these countries when buying apartments too are very expensive than Sri Lanka and this is a major plus point for Sri Lanka. “In addition building costs per square meter, along with land prices in Sri Lanka too are attractive for foreign investors than in the other countries. This too is another advantage for Sri Lanka.”

He said that for Chinese, Sri Lanka is the closest location when it comes to flying time as well. Kelly said the Chinese also know about the development of the Port City project handled by Chinese consortiums and this has influenced Chinese investors to look at buying condominiums.

In addition the budget proposals which relaxed foreign ownership rules to buy apartments too is another major plus factor for foreign investors.

Commenting on the Horton Square project he said that clearing of land and construction will start from next week and the 75 floor twin tower complex will open by 2020.

The construction of the project is handled by Zhongtian Construction of China and is the largest private sector infrastructure development company in China. The local Architects for the project is Archedium Pvt Ltd.

It will offer 150 rooms in 15 floors for the St Regis apartments and a further 515 apartments for the St Regis Hotels. The bottom 26 floors would be offered for commercial spaces. The total investment he said will move up to around US$ 300 million as they will invest in high quality materials. The total employment generation of this project will be over 1,200. “This is not just another building but a symbol of renewed investor confidence both in the future of Sri Lanka, its growth potential, as well as, the aspirations of her people”.

St. Regis is the luxury brand of Starwood Hotels & Resorts and offers some of the best locations, views, and amenities the world over.

Horton Square will represent a symbol of confidence in Sri Lanka and other international investors will surely follow.
__________________

Dueler, EshE, Popthepuff, Amila963, ak892 and 1 others liked this post

Last edited by Ragnarok123; April 20th, 2017 at 04:11 AM.
Ragnarok123 no está en línea   Reply With Quote
Old April 20th, 2017, 10:56 AM   #27
kp92
Registered User
 
Join Date: Sep 2016
Posts: 247
Likes (Received): 205

Quote:
Originally Posted by Dueler View Post

The traffic on that road is bad enough with Musaeus being there. I can imagine how much worse it'll get with this there.

I wonder why the developers aren't buying out the lands along Galle road, along the wellawatte, bambalapitiya stretches, where those old, run down two story shops and old office buildings stand, wasting prime space in the center of the city.
__________________

Amila963, Ragnarok123, kassapa liked this post
kp92 no está en línea   Reply With Quote
Old April 20th, 2017, 02:47 PM   #28
MarbleBeach
Registered User
 
MarbleBeach's Avatar
 
Join Date: Jan 2013
Posts: 414
Likes (Received): 140

Quote:
Originally Posted by Ragnarok123 View Post
Sri Lanka among top 4 in real estate sector


Horton Square CEO Paul Kelly. Picture by Saliya Rupasinghe
Sri Lanka is fast gaining recognition as one of the top four destinations for investments in the real estate sector for both Chinese and Japanese investors, Horton Square project CEO Paul Kelly said.

Speaking to Daily News Business he said the foreign investors know this trend and are investing in large condominium projects in Sri Lanka. “However I am not sure if Sri Lankans know about this plus factor.”

Kelly said that for Chinese and Japanese their best investment destinations are Australia, USA and Singapore. “However today, all these three destinations (including India) are more expensive than Sri Lanka.”

He said stamp duties in these countries when buying apartments too are very expensive than Sri Lanka and this is a major plus point for Sri Lanka. “In addition building costs per square meter, along with land prices in Sri Lanka too are attractive for foreign investors than in the other countries. This too is another advantage for Sri Lanka.”

He said that for Chinese, Sri Lanka is the closest location when it comes to flying time as well. Kelly said the Chinese also know about the development of the Port City project handled by Chinese consortiums and this has influenced Chinese investors to look at buying condominiums.

In addition the budget proposals which relaxed foreign ownership rules to buy apartments too is another major plus factor for foreign investors.

Commenting on the Horton Square project he said that clearing of land and construction will start from next week and the 75 floor twin tower complex will open by 2020.

The construction of the project is handled by Zhongtian Construction of China and is the largest private sector infrastructure development company in China. The local Architects for the project is Archedium Pvt Ltd.

It will offer 150 rooms in 15 floors for the St Regis apartments and a further 515 apartments for the St Regis Hotels. The bottom 26 floors would be offered for commercial spaces. The total investment he said will move up to around US$ 300 million as they will invest in high quality materials. The total employment generation of this project will be over 1,200. “This is not just another building but a symbol of renewed investor confidence both in the future of Sri Lanka, its growth potential, as well as, the aspirations of her people”.

St. Regis is the luxury brand of Starwood Hotels & Resorts and offers some of the best locations, views, and amenities the world over.

Horton Square will represent a symbol of confidence in Sri Lanka and other international investors will surely follow.
So they increased 50 million just like that ?
MarbleBeach no está en línea   Reply With Quote
Old April 20th, 2017, 06:22 PM   #29
AsankaD
Registered User
 
Join Date: Nov 2016
Posts: 57
Likes (Received): 53

Quote:
Originally Posted by MarbleBeach View Post
So they increased 50 million just like that ?
You know you can't actually predict the cost at the beginning right..
AsankaD no está en línea   Reply With Quote
Old April 21st, 2017, 09:53 AM   #30
MarbleBeach
Registered User
 
MarbleBeach's Avatar
 
Join Date: Jan 2013
Posts: 414
Likes (Received): 140

Quote:
Originally Posted by AsankaD View Post
You know you can't actually predict the cost at the beginning right..
Yes you can! unless they plan to make some expansions mid-way like what JKH did.

Look at their reason for increasing the budget!

As I mentioned before 250 million seems meager when you consider two 75 story towers.
MarbleBeach no está en línea   Reply With Quote
Old April 21st, 2017, 02:10 PM   #31
AsankaD
Registered User
 
Join Date: Nov 2016
Posts: 57
Likes (Received): 53

Quote:
Originally Posted by MarbleBeach View Post
Yes you can! unless they plan to make some expansions mid-way like what JKH did.

Look at their reason for increasing the budget!

As I mentioned before 250 million seems meager when you consider two 75 story towers.
This was listed in the brochure weeks ago...

__________________

nilangagamage, Lakmal85, Ragnarok123 liked this post
AsankaD no está en línea   Reply With Quote
Old April 21st, 2017, 06:37 PM   #32
skydev
Registered User
 
skydev's Avatar
 
Join Date: Dec 2014
Posts: 74
Likes (Received): 31

So I will not be a sri lanka's tallest Structure.
skydev no está en línea   Reply With Quote
Old April 21st, 2017, 09:52 PM   #33
MarbleBeach
Registered User
 
MarbleBeach's Avatar
 
Join Date: Jan 2013
Posts: 414
Likes (Received): 140

Quote:
Originally Posted by AsankaD View Post
This was listed in the brochure weeks ago...

So which one is accurate. Here the height of the building is 254 m...
MarbleBeach no está en línea   Reply With Quote
Old April 25th, 2017, 06:47 AM   #34
lordvader
Moderator
 
Join Date: Oct 2005
Posts: 1,116
Likes (Received): 132

Nice project, bad location. It will sorely stick out as a high rise on Horton Pl. IMHO they should do a land swap or something and build this on a vacant lot near Altair/CCC or on land closer to the city (there are numerous vacant car parks and lands which could be used).
__________________

erathal liked this post
lordvader no está en línea   Reply With Quote
Old April 25th, 2017, 01:56 PM   #35
Nuwan Malala
Registered User
 
Nuwan Malala's Avatar
 
Join Date: Apr 2011
Location: Kandy
Posts: 338
Likes (Received): 219

Quote:
Originally Posted by lordvader View Post
Nice project, bad location. It will sorely stick out as a high rise on Horton Pl. IMHO they should do a land swap or something and build this on a vacant lot near Altair/CCC or on land closer to the city (there are numerous vacant car parks and lands which could be used).
But there are both good and bad with location... The views of/from buildings are blocked by each other when they are located closer. Also it makes the skyline uglier(onthree 20)....They should be built keeping some distance apart from each other.
Nuwan Malala no está en línea   Reply With Quote
Old April 25th, 2017, 06:30 PM   #36
kp92
Registered User
 
Join Date: Sep 2016
Posts: 247
Likes (Received): 205

Quote:
Originally Posted by Nuwan Malala View Post
But there are both good and bad with location... The views of/from buildings are blocked by each other when they are located closer. Also it makes the skyline uglier(onthree 20)....They should be built keeping some distance apart from each other.
Views for residents is irrelevant to the state. The government should have strict zoning regulations for these buildings- as i said before, opening these kind of buildings on already traffic-heavy roads is just stupid.
__________________

erathal liked this post
kp92 no está en línea   Reply With Quote
Old June 14th, 2017, 11:06 AM   #37
MarbleBeach
Registered User
 
MarbleBeach's Avatar
 
Join Date: Jan 2013
Posts: 414
Likes (Received): 140

Any updates on this?
MarbleBeach no está en línea   Reply With Quote
Old June 18th, 2017, 10:06 AM   #38
Nuwan Malala
Registered User
 
Nuwan Malala's Avatar
 
Join Date: Apr 2011
Location: Kandy
Posts: 338
Likes (Received): 219

Earlier Colombo 7 area was not allowed for high rise buildings construction. What happened to the planning rules and regulations???? Under megapolis, planning should go towards better standards. But it seems now they are ruining existing rules and regulations.
Nuwan Malala no está en línea   Reply With Quote
Old June 19th, 2017, 06:43 AM   #39
RameshLokuge
Registered User
 
Join Date: Mar 2017
Posts: 41
Likes (Received): 13

Quote:
Originally Posted by Nuwan Malala View Post
Earlier Colombo 7 area was not allowed for high rise buildings construction. What happened to the planning rules and regulations???? Under megapolis, planning should go towards better standards. But it seems now they are ruining existing rules and regulations.
Hahaha mate, the current government will even fill Diyawanna oya for mega constructions if the investors demand! They are struggling big time with FDI. No matter where it pops up. The government needs to add the FDI numbers to the GDP which is drowning right now. They don't give a damn to stick with its regulations.
RameshLokuge no está en línea   Reply With Quote
Old June 19th, 2017, 08:51 AM   #40
kp92
Registered User
 
Join Date: Sep 2016
Posts: 247
Likes (Received): 205

Quote:
Originally Posted by RameshLokuge View Post
Hahaha mate, the current government will even fill Diyawanna oya for mega constructions if the investors demand! They are struggling big time with FDI. No matter where it pops up. The government needs to add the FDI numbers to the GDP which is drowning right now. They don't give a damn to stick with its regulations.
Like I asked in a previous comment, I wonder why there's no interest by any investor to buy up the parcels of land on either side of the Galle road, which are currently filled with tiny one or two storey buildings, wasting prime city land. Land price might be a reason, but is land in places like Barnes place or around the Beira lake really that much more expensive than those surrounding the Galle road?
kp92 no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 01:07 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2018, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

tech management by Sysprosium