John Keells Holdings (JKH) has finalised the design concept for the new 800-apartment joint venture residential development project Tri-Zen in Union Place, Colombo 2 with Indra Holdings.
JKH Chairman Susantha Ratnayake said schematic designs are currently underway for Tri-Zen, which is a unique development that will target a broader section of the market with apartments offered at attractive price points.
“Pre-sales have commenced and initial bookings are very encouraging,” he added.
JKH’s Property industry group pre-tax profit in 3Q was down 83% to Rs. 34 million on account of the third quarter of the previous year which included recognition of revenue on 7th Sense on Gregory’s Road residential development.
“The construction of Cinnamon Life is progressing well with the super structure approximately 50% complete. Parallel to the ongoing construction work of the super structure, the installation of the façade of the hotel will commence shortly. The construction work on the main access point via a six-lane bridge is nearing completion. The pre-sales of both the residential and commercial space continues to be encouraging,” JKH Chief Ratnayake added.