Premier Pacific Topaz ties up with Sunshine (Far East)
Rs. 2,150 m mixed development project gets under way:
Lumbini EDIRISINGHE
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An artist’s impression of the proposed project |
Premier Pacific Topaz has tied up with Sunshine (Far East) Ltd, a
property developer in Hong Kong to construct a mixed development project
in Colombo which would be similar to the World Trade Centre.
The Hong Kong based company Sunshine (Far East) Ltd will invest
Rs.150 million on the project and have already invested Rs.250 million
so far. The local investor will invest Rs. 250 million in addition to
complete the project. The total cost of the project is Rs. 2,150
million.
Chairman, Premier Pacific Topaz (Pvt) Nimal Perera said that the
condominium project in Colpetty, has already got off the ground and the
investment of the foreign counterpart would speed up construction work.
The twenty floor Premier Pacific Topaz mixed development complex will
comprise 120 studio units and 49 residential apartments. A special
feature will be the ten open type offices.
He said that this investment has proved the confidence of foreign
investors on the property development industry in Sri Lanka and it is a
positive sign for the economy.
“Marketing for the project has also commenced and most of the
apartments have been sold. “Most of our buyers are locals who live in
foreign countries,” he said.
The project is equipped with modern features such as thermal cracks
proof against the hot sun and heavy rain. We will generate our own
electricity requirements and will meet the shortfall from the national
grid, he said.
“We are looking at new investments after the completion of this
project,” he said.
This is the third project by Premier Pacific Topaz which earlier
opened Sri Lanka’s first super luxury mixed property development project
Premier Pacific Pinnacle in 2005 with an investment of Rs.850 million.
The Company’s inaugural project, Premier Pacific 2001 apartment
complex won the Award for Construction Excellence in 2001 from the
Institute of Construction Training and Development and National
Contractors’ Association of Sri Lanka. |
