The business-friendly environment and scenic locations in the city were the key driving factors to select Colombo for Altair Colombo which has changed the skyline of the city, said the developers of the iconic residential towers that were opened by Prime Minister Mahinda Rajapaksa on Thursday.
The real estate is a creative magnum opus of living legend Moshe Safdie, creator of Marina Bay Sands and the Jewel in Singapore.
Altair comprises 404 luxury apartments spread across 1.5 mn square feet on 68 floors with ventilation, privacy and optimally laid out living spaces.
“Around 250 apartments have been already sold out and we are confident the rest will be grabbed soon,” the developers said. The units have been bought by locals, Sri Lankan expats, Chinese and Koreans. The opening of the towers enables customers to initiate the fit-outs of the apartments through a phased out schedule with the totally sold apartments ready to be handed over within the next few weeks.
There have been inquiries and demand for units which will be sold out soon according to the developers who believe that low lending rates would boost sales.
Other than travel restrictions to and fro India the pandemic has not been a hindrance for sales, the developers said optimistic about more landmarks that would change the skyline of the city as soon as the dust settles from the current global crisis.
“We saw enormous potential for real estate development in Sri Lanka since the end of the battle against terrorism and continue to see it growing,” said South City Projects Kolkota Ltd., Director and Shareholder Sushil Mohta.
Indocean Developers (Pvt) Ltd., a venture of South City Group is confident that with the full completion and handover Altair would be a true value addition to the vibrant cosmopolitan lifestyle in Colombo.The South City Group is one of the top ten developers consortium in India.
The Group has to-date completed 30 million square feet of real estate development to the value of over USD 1 billion and currently has 20 million sq feet of space valued at USD 1.1 billion under construction.