Equity Two to undergo Rs 175 mn renovation

Equity Two PLC, a property management company said in a Colombo Stock Exchange disclosure that it is planning to renovate and refurbish a property located at No 61, Janadhipathi Mawatha , Colombo 1 at an estimated cost of Rs 175 million.

The project is expected to be completed by June 2013 and the funding for the project will be obtained mainly through bank borrowings.

Equity Two PLC, a Carson Cumberbatch firm will also add nearly 40,000 square feet of rentable office space to its existing capacity of 41,123 square feet and the property which was destroyed following a LTTE attack in 1996 will be converted into a rentable office premises with the completion of the renovation process.

(IH)