Altair issues over 100 title deeds post-ownership change

Thursday, 29 January 2026 05:26 - - {{hitsCtrl.values.hits}}

Altair Residences has, over the past six months, seen over 100 individual title deeds being executed by apartment owners, providing owners with a clear, registered, legal title to their apartments in accordance with Sri Lankan property law.

This has been a key initiative by the new owners and management of Altair to improve governance and will continue in an orderly manner in the coming months, the Company said in a statement.

With the transition of ownership to Blackstone India, Altair’s Management Council has also been formally constituted, enabling owners to play an active and proactive role in the management of the Altair building. In addition, the management council has appointed Realty Management Services (RMS), a subsidiary of Overseas Realty Ceylon PLC, as the new facility manager of Altair.

TWC Holdings Chairman Thilan Wijesinghe, who, together with a team from TWC, represents Blackstone’s interests in Sri Lanka, said: “The issuance of individual title deeds is a critical step in any professionally developed residential asset. Over the past six months, this process at Altair has moved forward in a structured and transparent manner, alongside the formal establishment of owner-led governance. This, combined with the appointment of experienced facility managers are fundamental building block for long-term value-creation for apartment owners and proper asset stewardship.”

With ongoing improvements to the building being undertaken by Indocean Developers Ltd., (IDPL), the owning company of Altair, the issuance of deeds to owners is expected to accelerate over the coming months, the statement added.