32-level Renuka Tower to be latest skyscraper

Galle Face Properties Ltd., a part of Renuka Holdings Plc, has announced the start of construction of a 32-level mixed development in Colombo 3.

Titled ‘Renuka Tower,’ it will have A Grade premium office space, office amenities, service suits, recreations areas and ample parking at the venue between Beira Lake and Galle Face Green.

The project will be funded by equity and debt. The equity investment in the subsidiary will be in excess of Rs. 3.2 billion and a portion of the equity will be funded by a prospective overseas invest at a future date, the company said.