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| Monday, 28 February 2005 |
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Havelock City construction gets under way By Shirajiv Sirimane Sri Lanka's one of the largest development projects, 'Havelock City,' began piling works yesterday. The investment for the project is 250 million US dollars and the management hopes to complete it in three years. Havelock City is being developed by Mireka Capital Land (Pvt) Ltd as a joint venture between the Shing Kwan Group, real estate specialists based in Singapore and the Bank of Ceylon. Shing Kwan Management Ltd, a member of the Shing Kwan Group, has been appointed the development manager for the Project. The Shing Kwan Group is the major shareholder of Overseas Realty (Ceylon) Limited, manager and substantial owner of the World Trade Center, Colombo. The project would be on 19 acres of land. Chairman Board of Investment, Saliya Wickramasuriya said that this project shows the investor confidence for projects in Sri Lanka. Martin Pereira, Director Mireka Capital Land Developers said that a major share of the human resources for construction would be from Sri Lanka. "There would be nearly 1,500 employment opportunities during the construction period. After the project is completed there would be over 5,000 direct and indirect employment opportunities," he said. Singapore Piling & Civil Engineering (Pvt) Ltd, a Singapore based company is the piling contractor following a competitive tender by six local and international contractors. The project promises to transform the landscape in the area, which was earlier the Wellawatte Spinning & Weaving Mills premises. The project will showcase its world-class features as an internationally acclaimed team of designers and consultants come together to provide their expertise on the development of the project. East China Architectural Design & Research Institute Co. Ltd. (ECADI) is the design consultant while Design Group Five International (Pvt) Ltd of Sri Lanka is the local architect and consultant. Havelock City, the largest real estate development project in the country, is designed to have 1,080 apartments, a 300 room hotel, 200 serviced apartments and a shopping mall with a variety of shops, a department store, cineplex, super market, international food court and cafes. The Project will add 3.2 million square feet of commercial and
residential space to Colombo. The tender for the superstructure of the first
two residential blocks will be awarded by April 2005 and completion of these
blocks is expected in 2007. |
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