The Six by CPG completely sold out prior to ground breaking

Tuesday, 7 December 2021 00:59 - - {{hitsCtrl.values.hits}}

CPG Chairman Kumar Sangakkara and CEO Reza Magdon-Ismail at the ground breaking

Crystal Property Group (CPG) has proven strong demand remains for luxury leisure-based property developments, with The Six by CPG breaking ground.

The Six is a project consisting of six carefully curated and unique beach villas located on the beautiful shoreline of Midigama. It represents CPG’s second project, after Crystal Sands, which will be officially opened in January 2022. CPG’s third project, Digana by CPG, will launch sales in a couple of weeks with plans for a fourth and a fifth project already in the pipeline.

Chairman Kumar Sangakkara states: “We are gradually realising CPG’s vision as a trusted company that delivers quality, turn-key and hassle-free leisure based real estate offerings to domestic and international clientele. Our motto is to under promise and over deliver, with the needs of clients maintaining pre-eminence throughout all our decision-making processes.”

CEO Reza Magdon-Ismail highlights from the company’s inception, a key principle is that CPG will be ‘in it’ with all villa owners as co-investors for the long-run. There are very few real-estate companies in Sri Lanka that have generated a consistent hassle-free yield to investors over a long period of time. CPG is confident it can break new ground in this area. Indeed, that ‘The Six’ will be managed by the award-winning Teardrop Hotels gives CPG comfort that anyone wishing to rent out its villas will benefit from strong yields in years to come.

CPG is proud that even during a pandemic that decimated Sri Lanka’s tourism industry, it sold four villas valued at over $ 5 million. CPG will keep the remaining two as they see significant upside potential both at ‘The Six’ and Sri Lankan tourism in general.

This reinforces CPG Founder and Sri Lankan Australian Dr. Dinuk Jayasuriya’s optimistic view for Sri Lanka’s future. “The last few years were very difficult from a country perspective, however in 2019, Sri Lanka was voted the number one tourist destination to visit by Lonely Planet and even in 2021, was voted in the top five places to visit Conde Nast Travelers. Sri Lanka’s natural beauty has not changed during the last five years and will not change during the next 10. Investors that purchase leisure-based products in this emerging market now, stand to benefit in years to come.”

The Six broke ground on 25 November and will be completed by mid-2023.