Rs. 400 m for Premier Pacific Topaz

Shirajiv SIRIMANE

A Sri Lankan industrialist will invest Rs. 400 million for the Premier Pacific Topaz building complex in Colombo 3.

Premier Pacific Topaz apartment complex

Chairman Premier Pacific Topaz, Nimal Perera said with this investment the complex will be completed by 2010.

The total investment for the project is over Rs. 1.8 billion and a Hong Kong national has already invested US $ 2.5 million.

Premier Pacific will be a 21 floor studio type apartment complex and the construction of 21 levels have been completed. There will be 103 units on offer.

"The change of the concept have also helped the developers to save Rs. 150 million," he said.

He said there were many residential apartment complexes that were opened and new ventures launched.

"We have noted a decline in demand for residential apartments mainly due to over supply and hence would be converting the complex to a office complex," he said.

The new concept helps companies to design their own architecture as we offer large empty space.

Perera who also built Premier Pacific apartment complex in Colombo 7 and in another mixed development complex in Bambapalpitya said they have already sold 42 apartments at the new complex.

"We are looking at new investments after the completion of this project," he said.