Odiliya Residencies breaks ground for Altezza Wattala

From left: Manager Development Shanila Senanayake, Manager Sales Dammika Dissanayake, Group Chairman Gerrard Fernando, Group Chairperson and Managing Director Rohitha Abeygunarathne, CFO Sumith Athanayake and Accountant Shanel Perera

ODILYA Residencies Ltd., the latest addition to the Odiliya Group held the ground breaking ceremony for the construction work of Altezza luxury apartments amongst some distinguished guests, customers, staff and well-wishers on 23 March at the project site No. 202, Aweriwatta Road, Wattala.

Altezza, as its name suggest, is the highest building in the Wattala area with 60 luxury apartments of different floor areas and with all luxury amenities. There are two bed room, three bed room, four bed room and five bed room duplex apartment units housed in this eight-storey building. There is also a pent house on the 7th floor overlooking to the sea side. 

The ideal location of the project will facilitate in all means the busy life style of the customers to experience a peaful and contended life. Located on the Aweriwatta road, just 1km to the Colombo-Negombo main road, the project possesses the advantage of easy accessibility where the railway line, airport expressway, Kandy road and Negombo road are all within close proximity. Further leading supermarkets, hospitals, hotels, restaurants and leading schools make the project location prominent. It is only a 15-minute drive to reach to the Colombo city limit from Altezza Residencies.

All 60 apartment units in the project Altezza are well designed by a renowned firm of Chartered Architects and all construction work will be done using quality building materials from cement to paints and electrical work to plumbing. At the roof top you find a state-of-the-art gymnasium, club house and a swimming pool exclusively for the use of the residents. Being first in the Wattala area, Altezza Residencies will stand tall with a blend of urban outlook in a countryside atmosphere, which sets an ideal footing for a halcyon life. The project is expected to be completed within two years and prices of the apartment units are starting from Rs. 12 million and all the two bed room apartment were sold out.

Briefing the media, Odiliya Homes Group of Companies Managing Director Rohitha Abeygunaratne said that Altezza is one of the remarkable milestones of the gradual and steady progress of the group. He added that apartment business is the fast growing business segment of the country in present context and the Government has taken some positive steps to foster this segment, namely complete removal of the restriction imposed earlier on the purchase of apartments to the foreigners from fourth floor onwards, exempting the sale of apartments from VAT, relaxation of resident visa system for foreigners who invest in Sri Lanka, to quote a few. 

According to Abeygunaratne, with the encouragement given by the Government to this segment, customers could look at purchasing an apartment from two angles; one is the residential purpose and the other being the investment purpose. Whatever the objective that could be, the customer will be benefitted ultimately in terms of value appreciation and guaranteed actualisation of capital gain each year. So this is a golden opportunity for the customers that should not let go out of their investment plans, he said. 

Abeygunaratne attributed the reputation earned by the name Odiliya in the real estate industry and the confidence reposed on the company by customers of different social strata over the past years triggered by the untiring efforts of the staff of the group are the root causes for the growth of the group.

Dhammika Dissanayake, Sales Manager of Altezza Residencies, said that since the highest quality materials would be used for the project there should not be any concern in the minds of the customers as to the strength and durability of the apartments. He also told that the even before the commencement of the constructions, 40% of the units was sold and reservations were done by customers, which itself provides good credentials on the customer demand. 

The fact that the prices of the condominiums in the city of Colombo are very high, this is an ideal investment opportunity for life time for the customers those who do not like to reside in the city and cannot afford a substantial sum of money to acquire apartments in Colombo, he added. 

Dissanayake further added that there are systems in place for garbage collection, stand –by generator to ensure uninterrupted power, separate waste water treatment plant, two elevators, a lobby area for visitors, three phase electricity, pipe borne water, security office to provide security around the clock and air conditioning machines for each unit.

Abeygunaratne informed that the customers who have reserved the apartments by now are of a cross composition. The current customer base includes businessmen, Sri Lankans working in overseas, top executives in the private sector and professionals. The company has been advertising on the websites and social media and the details of the project could be ascertained therefrom. He further told that the company would carry out some activities under its Corporate Social Responsibility (CSR) drive in the near future to help those are underprivileged and need assistance for their ways of life. 

All the necessary approvals and clearances for the construction of the project have been obtained from the relevant regulatory authorities such as Urban Development Authority (UDA), Condominium Management Authority (CMA), Central Environmental Authority (CEA) and Wattala – Mabole Municipal Council. The management of Odiliya Residencies Ltd. invites the customers to visit the site and inspect the model house which is at the site to get a feeling about their future abode – Altezza Wattala and make a wise and correct decision to get an apartment in Altezza thinking of the future.