Quick draw for Havelock City phase 2 apartments

Monday, 21 March 2011 00:47 - - {{hitsCtrl.values.hits}}

Havelock City launched the sale of its phase 2 residential apartments in early February this year, following the success of the phase 1 apartments which are already in occupation.

“Sales of apartments have been very encouraging and we have already sold 25% of the apartments,” said Nirupa Peiris, Senior Sales Manager of Havelock City. The current economic boom and political stability in the country has helped in interest shown towards the project by a strong overseas clientele along with the local buyers.

Phase 2 comprises two more towers, Layard’s and Davidson with a total of 225 apartments. The two towers with 22 levels each, promises stunning views of the city and the sea on completion, and will include a combination of 2, 3, and 4 bedroom apartments as well as Penthouses.

The entire Havelock City project on completion will have a 6 acre elevated roof garden and a Clubhouse surrounded by 8 residential towers. The Clubhouse will be one of the largest in the country, with 38,000 sq. ft. of built up space providing a range of recreation and leisure facilities. The garden itself will be one of the largest of its kind in South Asia and a singular attraction of this development, virtually bringing a “park” to the doorstep of the residents of Havelock City. In addition to the Clubhouse, Havelock City will also have the country’s largest and most modern shopping mall with two large office towers. This comprehensive high quality, well designed mixed development delivering exceptional value for its customers, will be a forerunner in Sri Lanka.

Havelock City is able to develop this unique concept of a ‘city within a city’ due to the availability of the single, large, unencumbered land parcel of 18 acres within a largely populated suburb of Colombo. The development is a joint venture project between Overseas Realty (Ceylon) PLC and the Bank of Ceylon, where the Bank of Ceylon’s equity contribution to the project was the 13 acre freehold land it owned. This site, valued at market, was matched by Overseas Realty bringing in project funding in the form of foreign investment, together with their extensive expertise in real estate development in the Asian region and China. The additional land of 5 acres for the project was purchased directly by the Company.

Overseas Realty’s newly appointed CEO Pravir Samarasinghe said: “S.P. Tao, Chairman of the company, has set us a very challenging deadline to make his vision a reality and we are focusing all our efforts and resources to make Havelock City exceed all expectations. Havelock City residents will be provided with a lifestyle similar to that seen in countries like Singapore and Hong Kong.”

Pravir also highlighted that the construction of phase 2 will start during the third quarter of 2011 along with the Clubhouse.