Work on Indocean’s 65-storey tower to commence this August
May 25, 2012, 7:44 pm
Indocean Developers announced that it would commence construction of a 65-storey luxury residential tower with restaurants and entertainment facilities on two acres of prime property in the heart of Colombo in August.
"The Urban Development Authority (UDA) of Colombo, supported by foreign investment, is in advanced stages of developing the shoreline around Beira Lake. Situated in the heart of the Sri Lankan capital, the man-made lake is already surrounded by major productive use buildings such as offices, hotels, shopping malls, apartments, banks and commercial and leisure establishments.
A 10-acre parcel of land originally belonging to the erstwhile Colombo Commercial Company is now being undertaken for redevelopment. Spanning an impressive lakeshore stretch, the waterfront will be converted into an all-pedestrian boardwalk and promenade bordered by fashion, retail, restaurants, spa and entertainment services," the Indian property developer said.
Indocean Developers (Pvt) Ltd, a venture of Indian property group South City Projects (Kolkata) Pvt. Ltd. (SCPKL), has acquired two acres of this land to build a high end, eco-friendly 65-storey condominium tower.
"The exclusive residential tower is looking to target expatriates, Non-Resident Sri Lankans and HNIs among others. In-house facilities will include a swimming pool, gym, lounge, function room, play area for children, tennis courts etc," it said.
"Located opposite Beira Lake, the 400-apartment development with top-of-line finishes, by Indocean is expected to be launched shortly, with piling work commencing in August. It has already created extensive interest in Sri Lanka’s real estate and HNI circles.
"Kolkata-based SCPKL, established in 2000, is one of the largest property groups in India. SCPKL has an impressive track record developing large-scale residential and commercial projects, including the record-making, tallest South City residential tower in Kolkata, and the South City shopping mall covering a million sq.ft, making it the largest mall in the country, also in Kolkata. In addition, the company has built numerous IT Parks, industrial estates and townships in Chennai, Hyderabad, across Gujarat and in Kolkata.
"In their first overseas venture, SCPKL has commissioned world renowned architect Moshe Safdie and his team at Safdie Architects to design an iconic residential tower. At 65-storeys the building will be the tallest in Colombo, and is to be Moshe Safdie’s first project in Sri Lanka.
"Among the recent ‘creations’ by the versatile architect, urban planner, educator, theorist, and author is the much-admired Marina Bay Sands Integrated Resort in Singapore. A building which has not only defined the country’s skyline but also has substantially increased visitor arrivals to the island-nation, thereby giving the economy a great boost.