Condo developer offers pioneer payment plan
View(s):As Colombo’s apartment and condo sales market gets overcrowded, developers are looking at new ways of attracting buyers.
One such company, Iconic Developments Ltd, the developer of Iconic Galaxy at Rajagiriya, this week unveiled a new payment plan where buyers pay only 30 per cent of the total cost of an apartment during the construction period and the balance 70 per cent on completion of the apartment.
There is a catch however; the offer is valid only till August 31. Rohan Parikh, Managing Director of Iconic Developments, told reporters in Colombo this week that the main reason for this payment scheme is to reduce the financial burden of customers. “The inflow of funds to the developer remains, while the buyer is not under a huge upfront financial burden when buying their dream homes,” he added.