Mulberry Residence to transform skylines of Colombo

With a vision to develop vibrant communities, with a true sense of place, that fit into their surrounding area and meet the needs of local people, Steradian Capital, a privately owned, real estate development and consultancy business, unveiled its plans for an affordable apartment complex, at a ceremony that was held at the Taj Samudra, Colombo.

Located in Colombo 09, Mulberry Residence, is the latest housing complex that is set to transform simplicity into quality and sustainability. Consisting of three towers, each over 15 floors, the ground to 2nd floors, consist of a connecting podium dedicated towards a reception and parking, along with 11 residential floors (3rd-13th floor) and a roof top entertainment space, boasting two swimming pools, a gymnasium and children’s play area (14th floor), is expected to be completed by the end of January 2018. The apartments range from 1,000-1,600 sq. ft., with a mixture of 2-3 bedrooms and have been designed with a meticulous eye towards space planning and detail. 

The development of the apartment complex will be in collaboration with the Yanjian Group, one of the top 250 construction companies in the world. The construction period (including piling) will take 24 months; ensuring customers will enjoy a fast construction period, from conception to tangible living. 

Commenting on the specialty and vision of the project, Steradian Capital Director Hardy Jamaldeen said, “We are delighted and privileged to have the Yanjian Group as our construction partner as they are responsible for some of Sri Lanka’s greatest construction projects. Having understood that development is much more than creating homes, we at Steradian Capital are committed to working with local people and communities. The vision for the project comes from our desire to improve the affordable and professional housing sector in Sri Lanka, as we have identified a need for it. Therefore, we always try to handpick land parcels in areas of high density where there is a need to serve and improve the lives of the local community.”

Mulberry Residence is well connected. Its unique location contributes immensely to its vision of offering convenience to its residents with schools, supermarkets, eateries and entertainment in close proximity to all its main arterial routes. Its common areas and facilities are also one of its unique features as its prime focus is getting the basics of homebuilding right the first time. 

It includes facilities such as 24-hour CCTV camera surveillance to all its entrances and the car park, a rooftop entertainment space and landscaped garden with a walkway that includes a children’s play area and two separate rooftop swimming pools and gymnasiums, exclusively for males and females with much respect given towards privacy. 

“Our main focus is Sri Lanka and we have in-depth knowledge and experience of the local market. Therefore we believe that there is a huge void in the market and less being done towards young professionals and aspiring families. We also believe that our project actually serves a purpose and has an end user, as we consider it a joint venture between the developer and purchaser,” said Steradian Capital Director Archie Warman.

“Quality is tangible; you can always touch and feel it. Our apartments are the best in terms of space planning and this project will build on our fast growing fan base and following. In addition to Mulberry Residence, we are also looking to refurbish existing buildings, which are architecturally beautiful and practical. Sustainability wise we will be able to cut down on C02 emissions and install eco-friendly specifications such as solar panels, LG7 lighting and the latest air conditioning systems,” he further added.

Many banks namely; Pan Asia Bank, Sampath Bank, Commercial Bank, Bank of Ceylon and HNB have already come on board to extend their support for loan facilities at very attractive interest rates and several other major banks are expected to come on board in the near future. This much anticipated project that has been approved by both the Urban Development Authority and the Colombo Municipal Council will initially be managed by Steradian Capital with strict supervision and once the property is built, a management consortium will be formed. The board will be represented by the heads of those who have purchased apartments thus enabling them to have a voice of their own in controlling their surroundings.

The Model Mulberry Residence