India’s Fracspace enters Sri Lanka’s real estate market with Altaira

From left: Fracspace Founder Unnath Reddy, Fracspace India Business Partner Shravan Mukund, Member of Parliament and Badulla District Development Committee Chairman Kithnan Selvarage, Housing Deputy Minister T.B. Sarath, Tourism Deputy Minister Prof. Ruwan Ranasinghe, and Fracspace Ceylon Director Danuna Tillakaratne at the official 

unveiling of Altaira at Cinnamon Life, Colombo

• Elevated luxury destination project consists of 40 private condominium villas and 24 luxury Ridge Suites in Kegalle district

India-based real estate specialist Fracspace recently unveiled Altaira, its landmark ultra-luxury hillside development, at a grand launch event held at Cinnamon Life, Colombo. 

The exclusive gathering brought together prominent personalities from the worlds of business, hospitality, real estate, and investment, marking a significant milestone as Fracspace formally enters the Sri Lankan market. 

The evening celebrated the introduction of Altaira — a one-of-a-kind elevated luxury destination designed to blend nature, architecture, and experiential living. The project consists of 40 private condominium villas and 24 luxury Ridge Suites, all within a fully managed resort ecosystem, offering discerning buyers’ privacy, curated experiences, and long-term ownership value. During the launch, Fracspace announced the pre-launch investment pricing, with Ridge Suites starting at $ 180,000 and Luxury Villas beginning at $ 480,000, generating strong interest from global investors, holiday-home buyers, and lifestyle enthusiasts in attendance. 

With Altaira, Fracspace expands its growing international footprint, bringing its proven expertise in curated real estate, hospitality, and destination-driven developments to Sri Lanka. The project represents the company’s vision of creating experience-focused second homes that combine long-term lifestyle ownership with seamless management, privacy and investment potential. 

Fracspace Founder Unnath Reddy emphasised that Sri Lanka’s rising global tourism appeal, natural diversity, and strategic location make it an ideal destination for next-generation luxury developments.

Altaira marks the beginning of Fracspace’s long-term commitment to the region, positioning Sri Lanka as a key hub in its global expansion strategy across hospitality and experiential real estate.

Fracspace Ceylon Ltd., Director Danuna Tilakarathne shared insights into the extraordinary setting of Altaira, describing the land as a rare natural sanctuary located approximately 3,200 feet above sea level. Surrounded by rolling hills, mist-covered landscapes, and untouched natural beauty, the site offers panoramic vistas and a climate uniquely suited for wellness, retreat living, and luxury resort hospitality.

The Inside Project Principal Architect Ranga Fernando highlighted the project’s vision of preserving the character of the land while creating a thoughtfully integrated development that celebrates Sri Lanka’s ecological richness and cultural essence.

Tourism Deputy Minister Prof. Ruwan Ranasinghe announced the preliminary approvals being issued at the launch event, affirming Altaira’s readiness for development. 

Fracspace emphasied: “Altaira is not just a development — it is a lifestyle destination shaped by altitude, serenity, and nature,” reflecting the uniqueness of the location and its potential to become a globally recognised mountain retreat.

The grand launch concluded with strong investor engagement and early expressions of interest, signalling promising momentum for Altaira ahead of its next phase. With its limited inventory, elevated setting, curated design, and international outlook, Altaira represents a defining step in Fracspace’s journey — bringing together investment, hospitality, and lifestyle into a singular destination above the clouds.