First mixed development project in Kandy
View(s):The Board of Investment (BOI) has signed an investment agreement with GVR Lanka Pvt Ltd to set up a mixed development real estate project in Kandy.
The project is planned by two Sri Lankan-born US entrepreneurs and will be managed by an experienced team of hospitality sector professionals. Mahasen Samaravijaya – Chairman of GVR Lanka (Pvt) Ltd, said in a statement that, “We believe, with its location and luxurious amenities, the complex can be marketed as an ‘Oasis of Tranquility’ providing an unparallel lifestyle experience to its hotel guests and apartment owners”.
Lakshman Yapa Abeywardena, Minister of Investment Promotion formally presented the BOI Certificate of Registration to Mohan Chandramohan and Mahasen Samaravijaya. Mr. Chandramohan – Board Member and major shareholder of Serendip Investment Group (parent company of GVR Lanka), noted that, “We want to be an integral part of Sri Lanka’s success and more importantly, to do something for our hometown – Kandy. Both Mr. Samaravijaya and I are from Kandy.” He added, “We will ensure that the project is conceived and completed in a socially responsible manner”.
The first phase of the project, which is a 15 story Luxury Residential Apartment Complex, will consist of 26 units of two-bedroom apartments, 52 units of 3-bedroom apartments and 4 penthouses.
The second phase of the project will consist of a separate 21- story building of 144, Four-Star Hotel rooms with some Serviced Apartments. Amenities include; Health Spa, Function Halls, Arcade and Roof Top Terrace Restaurants. The restaurants will have a 360 degree view of the mountain range, Mahaweli River and the city of Kandy.
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