US $ 40 mn Platinum 1 complex ready by 2013
Indunil Hewage
Platinum 1, Sri Lanka’s latest world class real estate high rise,
located on Bagatale Road, Colombo is scheduled to be completed by 2013.
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Pragnya Director Ananda Athukorale,
Pragnya and Platinum Director T Srinagesh, Platinum Reality
Investments Pvt Ltd Director Kishore D Reddy and Paharpur
and Platinum Director Pururaj Dutt. Picture by Sumanachandra
Ariyawansa |
The US $ 40 million residential project spreads across 140,000 square
feet of land and comprise of four luxury penthouses and 66 aesthetically
appointed residential apartments.
The ultra modern penthouses spreading across the top 2 floors have
been designed with local architectural sensibilities and international
style in mind.
The project is developed by Platinum Realty Investments (Pvt) Ltd
with capital investment from reputed Sri Lankan investors and foreign
direct investments from India based Paharpur Cooling Towers Group and
Pragnya Fund, a Mauritius based Private Equity Fund.
Pragnya and Platinum, Director, T Srinagesh said Platinum 1 is going
to be the number one residential project in Sri Lanka which is developed
to cater to people who want to experience exclusive and luxury living
standards in Sri Lanka.
Srinagesh said 70 percent of the project investment is held by Indian
investors while a Sri Lankan investor has invested in 30 % percent stake
of the project. The 20 floor state-of-the-art building will comprise
automated valet car parking with 216 parking slots, incidentally the
highest density of parking based on number of units in Sri Lanka is a
unique feature being introduced by the developer, four high speed
elevators would be included in the building, two exclusively for the
residential complex, recreational floor and residential lobby, rooms,
lounges, ultra modern gym, piped gas, large air conditioned convention
hall and banquet facility.
The recent increase in seismic activity globally has also been taken
into consideration by the structural engineers providing additional
protection against seismic activity by utilizing the latest post tension
technology, another first by Platinum 1 in Sri Lanka.
The prospective clients will be free to choose the final finishes as
per their personal tastes and standards ensuring complete satisfaction
with final product.
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