Krrish Transworks invests US$ 650 mn in Fort project

Shirajiv Sirimanne

The Krrish Group would invest US$ 650 million to build three towers and redevelop the adjoining Transworks building in Fort. The construction would start in August and be completed in 30 months.

R P Gupta speaking to Daily News Business said that they would also settle the balance payment due for the land by the end of July. “We have already paid Rs 41.1billion which is 85% of the total commitment. The balance Rs 800 million would be paid before the deadline,’ he assured. He said that the support they received from the government was overwhelming. He said that when completed this would be the tallest building in the region and the biggest single private sector development. Each tower would comprise 95 floors and both towers would be joined by two bridges, one of which would be used as the lobby of the 200 room hotel. “We would look at a hotel chain to manage this hotel,” he said. The architect, Edoward Francois, who is a celebrity in Europe said that some of the hotel rooms would have private swimming pools and would also have 600 apartments, office space, restaurants, retail outlets, cinema and parking for 3,000 vehicles.

He said the land in the heart of the city makes their designing easier. He said that they would also want to have touch of nature and greenery to the property and would create a mini tea estate in the complex. “Another beauty would be the colonial transworks building which would be restored as the entrance. This would be a major attraction.”

He also spelled out plans to make the Krrish tower development with 95 floors as the tallest building in South Asia and the tenth biggest development in the world.

Having designed, Marina Sands Properties in Paris, Abu Dabhi, and several other historic ventures in the world he said that Krrish tower would also be the first property that would offer two inter linking bridges in the region.

CEO R P Guptha said that with the European architects new French design and style and global retailers some of whom would be entering the region for the first time, would make Krrish Transworks Colombo a new and much sought after destination in the world. “People would be rushing to seek accommodation here,” he predicted. He said that Sri Lankan air links were very good and visitors could also shop in Krrish and take a transfer to any other destination.

In addition to foreign visitors, they also expect Sri Lankan public who have a high per capita income and like to indulge in luxury to patronise this. He said the concept to build Krrish in Colombo came up around two years ago and peace, investor friendly climate, Sri Lanka’s growing reputation as a high end destination and the support they received from the government made them go ahead with the project.

Renaud Dutreil, Chairman of LVMH Moet Hennessy Louis Vuitton Inc, a graduate of the Institute des Etudes Poltitiques de Paris, Ecole Normale Superieure (ENS) and Ecole Nationale d’Administration (ENA) in Paris, would also assist in the designing of the colonial property.

Dutreil served in the highest offices of the French government for over 15 years prior to him joining LVMH.

His ministerial appointments include Minister of Small and Medium-sized Businesses, Commerce, Crafts and Liberal Professions (2005-2007), Minister of the Civil Service and State Reform (2004-2005) and Secretary of State for Small and Medium-sized Businesses, Commerce, Crafts and Liberal Professions (2002-2004). He was a Member of Parliament from 1994-2008.

“The colonial property would be redeveloped as one of the most iconic building in Asia,”he said.

Edouard Francois has taught in many schools around the world, including the Architectural Association in London, the Ecole Speciale d’Architecture in Paris and the Design Academy in Eindhoven. His work can be found in the permanent collections of the Pompidou Centre and the FRAC Centre, and has been regularly exhibited internationally, including at the Canadian Centre for Architecture in Montreal, the Guggenheim Museum in New York, the Victoria and Albert Museum in London and the Venice Architecture Biennale.