SMB Group diversifies into luxury housing

Super luxury mansion-type homes, a largely untapped market in this country, will be the focus of a new business initiative of Seylan Merchant Bank (SMB) Group.

The new initiative which represents a major diversification from the largely financial services based business orientation of SMB will commence with a project to build three luxury houses in Panadura.

The project, "Power Residencies", will comprise of exclusive stylish mansions set in their own spacious gardens, with ultramodern security facilities and the latest in luxurious household amenities and fittings.

Panadura has been selected for the project because it is an area that has historically been home to many well-known wealthy Sri Lankan families, SMB Director/General Manager Rohan Senanayake said.

"These three villas are targeted at the newer generation of the old residents of Panadura who wish to retain their historical relationship with the area while living in an ultra-modern home with the latest facilities," he said.

The architects for the project are International Consultancy and Corporate Services (Pvt) Ltd.

Seylan Merchant Bank is a member of Ceylinco Consolidated which has extensive interests in the real estate development and housing, including projects such as 'Lotus Grove'.