Thursday Dec 12, 2024
Thursday Dec 12, 2024
Wednesday, 5 May 2021 00:00 - - {{hitsCtrl.values.hits}}
Crystal Sands by Crystal Property Group (CPG) is due for completion in August 2021; located in the Galle District, it will be Sri Lanka’s first boutique beachfront apartment complex. All 26 Crystal Sands’ Sky Villas boast home to revolutionary automation technology and lavish balcony sunset Jacuzzis.
CPG, having sold most of its Sky Villas, has partnered with NDB Bank for the sale of five Sky Villas. This limited time offer involves investors paying 20% now and resume repayments from May 2023. This means you could pay as little as Rs. 10 million, move into your Sky Villa in August 2021, and benefit from rental returns until May 2023 without paying anything more.
Dinuk Jayasuriya expressed: “We at CPG acknowledge that with COVID, some investors are uncertain about rental returns that happen over the next two years … and this gives them some grace period. With the belief that tourism will rebound by mid-2023, this offer would be a very good deal.”
CPG Chairman Kumar Sangakkara said: “We are clearly living in a COVID environment. However, we believe that in two years the worst of COVID will be over and tourism will resume and be on the rise. Israel is a prime example of a country, post vaccination, that has returned to normalcy. Our plan is to sell five more Sky Villas and keep some ourselves, so we can also benefit from the inevitable tourism rebound.”
CPG CEO Reza Magdon-Ismail acknowledges that what CPG is offering is a very attractive deal hence why it’s being limited to only five Sky Villas. “When tourism bounces back, it will bounce back strong, and there will be limited supply in the Sri Lankan market. Some astute buyers are considering paying 20% now, believing COVID will be over in December 2022, and then re-selling their Sky Villa for a capital gain even before paying the remaining 80% in May 2023. For CPG, selling these five villas now would mean post building completion in August 2021, we won’t have plans to sell many more.”
Crystal Sands is a truly turnkey solution. It offers an impressive array of facilities including around-the-clock reception and security services, a private chef, and a concierge. Other attractions within the luxury complex are a rooftop infinity pool, a rooftop bar and restaurant, and a state-of-the-art wellness centre. Investors receive their Sky Villas fully furnished and have them managed by a leading Sri Lankan hotel company, which means they can live in them when they choose to, and have it rented out hassle free at other times.
Visit www.crystalsands.lk or call +94 772 292 202 for further information.
