ITC Sapphire uber-luxury residences launched in London

Friday, 23 November 2018 00:00 - - {{hitsCtrl.values.hits}}

ITC Hotels unveiled their uber-luxury ‘Sapphire Residences’ located in the heart of Colombo to an international audience comprising real estate and investment communities, Sri Lankan diaspora and the media at London’s prestigious Dorchester Hotel on 14 November. Sri Lanka’s High Commissioner to the United Kingdom, Manisha Gunasekera, was the Chief Guest at the event, which was also supported by the High Commission.

Welcom Hotels Lanka Ltd., a 100% subsidiary of ITC Ltd. India, and Sotheby’s International Realty, unveiled the Sapphire Residences by YOO Inspired by Starck. Scheduled for completion in 2020, the development comprises a majestic 224-metre tall residential complex, set alongside a 140-metre high hotel complex. Located on the elegant Galle Face Green stretch in the ceremonial heart of Colombo, Sapphire Residencies is poised to redefine luxury vertical residential living in Sri Lanka and in the region.

At the launch, High Commissioner Gunasekara remarked that, “Colombo, located at the very heart of the Indian Ocean, is very cosmopolitan, yet peaceful, surrounded by the serenity of the blue-green Indian Ocean and the lush emerald beauty of the tropics.” She welcomed “the presence of ITC Hotels in Colombo, and the launch of ITC’s first ever branded residential project, as the ideal vehicle for potential investors to explore the booming real estate market in Sri Lanka and expanding investment opportunities.”

Welcom Hotels Lanka Ltd. Managing Director Arun Pathak in his remarks stated that their objective was to develop a new icon for Sri Lanka on this ultra-prime Colombo coastline, which would gain recognition across the globe. He also said that the capital’s high-end luxury residence prices are competitive compared to many other countries in Asia, and this would be a major selling point.

YOO Founder John Hitchcox, Oxford Business Group Asia Editor Patrick Cooke, and Sotheby’s International Realty Director (Sri Lanka) Petar Petrovic were among the dignitaries that attended the launch.

In Sri Lanka, property developers have now begun offering products on par with top global urban destinations. Accordingly, several top residential development brands such as: Shangri-La, The Ritz-Carlton, JW Marriot, Cinnamon Life, and Altair have come up across Colombo city, redefining urban living spaces and lifestyle, with more to come.