East Coast’s first international real estate project launched by Canadian investors

Thursday, 1 February 2018 00:00 - - {{hitsCtrl.values.hits}}

By Shannon Jayawardena

East Coast’s first international real estate and foreign development investment is to be launched by Ideal Developments and Pura Resorts Canada by April 2020 consisting of 50 luxury resort chalets and 62 villas down Nilaveli, Trincomalee.

The $50 million investment which is a maiden project for Ideal Developments and Pura Resorts comes in three and four bedroom layouts, each featuring expansive gardens, light filled interiors, parking space, private swimming pools and glass walled living and dining areas.

Pura Resorts Managing Director and Ideal Groups Corporate Affairs Director Sri Nithya Omkarananda said: “Our concept of Pura is the theme of pure. We want to build our resorts around untouched, virgin nature, nature at its highest form and offer this experience to the people.”

“When we came to Sri Lanka we looked at different options and saw that Nilaveli was an untouched place with great beauty and growth for tourism. We ended up purchasing this 26 acres property which is right next to the Nilaveli Beach Hotel. This land has lush greenery, large trees and is truly very beautiful,” he added.

The company’s vision is to build a huge landscape of land with pure nature while maintaining the equilibrium between economics and environment. Omkarananda stated that whilst each villa is a sanctuary of its own, over 300 jobs will be created by the end of the project.

Pura Luxury Villas Architect Philip Weeraratne emphasised on the fact that: “The central theme of nature is an integral facet and the utmost care is being taken to preserve the existing trees and landscape. The natural stream that runs through the site is incorporated into the design, while large expanses remain as a preserved jungle.”

It is only 18% of the land that has been incorporated for construction while 82% land is to be kept as open space for walkways, jogging tracks, pools and lawns. Prices for these luxury villas commence at $680,000 and reach up to $1.1 million.

Envision CEO and Interior Architect Siddharth Chavda said: “What we wanted to do was give a very understated, rustic and luxurious look. We just basically took off and brought the exteriors to the interiors.”