Business Times

Second phase of Havelock City begins

The second phase of Havelock City is the newest housing initiative that Singapore investor S P Tao of World Trade Centre fame is offering Sri Lankan and overseas housing enthusiasts. A joint venture between Overseas Realty (Ceylon) PLC, the Havelock Cit’s total investment is US $ 350 million.
So far this is the single largest real estate investment project to be completed by 2013. Mr Tao, Chairman, Overseas Realty, last week at the site in Colombo unveiled the revised Havelock City Project. The initial residential phase comprising 226 apartmets on 22 levels is already complete and the apartments are being occupied. Already 65% of it is sold out.

The three balance residential phases would comprise six towers of between 22 and 29 floors housing approximately 800 exclusive apartments. The 25 storey, 500,000 sq ft commercial towers will integrate the largest and most modern shopping mall, offices and hotel designed and constructed to international standards with the Sama Viharaya integrated into its forecourt at street level.

When completed there would be eight apartment towers that would consist a total of 1,080 high quality apartments. Phase one which is now complete consists of Park and Elibank Towers which has 226 apartments. Reservations could be made by contacting their office or logging on to their website. The apartments are a combination of 1, 2, 3 and 4 bedroom apartments.

Mr Tao speaking at the unveiling ceremony said that in three years Colombo’s skyline would change and it would be simply not the skyline that will change, but the way of life for Colombo that will also change. He said that Havelock City is their prime focus and what they see now is opportunity for urbanization of cities which will naturally add fillip to their real estate business.

These apartments are open to outright purchase or renting. There are a variety of apartments with varying additions to chose with and the rentals range between $1,000 to 2,500 per month and the outright purchase would cost between Rs 20 to 40 million.

The hitherto stinking Wellawatte Canal is now fully dredged and arrangements are already in place to commence a ferry service along the canal and the frontage of the Havelock City facing the canal would be open to enjoy the luxury ferry service.

The City is on a 17 acre prime land within the Colombo City and out of this acreage more than three acres are apportioned to develop a lush garden where some of the trees grown on it are wild trees so that the occupants could enjoy the village atmosphere under the shades of these trees., which would definitely be a new experience for these city dwellers.

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