Trillium Property Management to invest Rs 1 b on two projects

Monday, 10 November 2014 00:00 -     - {{hitsCtrl.values.hits}}

Trillium Property Management and Services is planning to invest over Rs. 1 billion to launch two mixed development properties in Colombo 7 and Nugegoda. Trillium Property Management and Services Chairman Janaka Ratnayake and Trillium Property Management and Services Finance Director Yasas Vitharana pose with the model structure of the proposed building for the Trillium building in Colombo 7, after it was revealed Trillium Colombo 7, a super luxury apartment complex under the Trillium brand, will be developed in a very prestigious location in Torrington Avenue Colombo 7. The complex will consist of 18 stylish super luxury 3-bedroom apartments ranging from 1500 sq ft to 1800 sq ft and two 3000 sq ft penthouses with an infinity swimming pool and a state-of-the-art gymnasium on the rooftop, the developers said. Signature features of popular Trillium Brand will be incorporated into this up-market project. The Trillium Melder Place Luxury Villas Nugegoda project will consist of eight exclusive single villa houses with modern luxury. Trillium also introduced a new payment scheme for its customers to guarantee that investment will have a 10% rate of return during the construction period of 18 months with money back guarantee for the apartment. “With an average inflation rate of 10-15% in the Real Estate market in Colombo and the suburbs, land and property prices have been incessantly rising after the war period of 30 years. Due to this reason, there is significant rise in the trend of apartment-living and therefore large numbers of apartments are being built to feed customer needs,” said Chairman Trillium Property Management and Services Ltd., Janaka Ratnayake at the recent launch of the newest Trillium Apartment Complex at the Cinnamon Grand Hotel Colombo. Due to this positive economic viewpoint and the low interest regime, individuals have been motivated to invest in large and risky ventures such as equities, treasuries, forex market and real estate markets. “Due to this we too see a demand for our apartments,” he added.