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Wednesday, 12 December 2012

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US $ 40 mn Platinum 1 complex ready by 2013

Platinum 1, Sri Lanka’s latest world class real estate high rise, located on Bagatale Road, Colombo is scheduled to be completed by 2013.

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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