lamudi - property now / issue #2

1 / Lamudi Magazine

Page 36

MARKETREPORT2015

price 200 LKR | October 2015

1

Altair

Sri Lanka’s #1 real estate portal

PROPERTY NOW / ISSUE #2Featuring: City Guide / Emerging cities of Sri Lanka /

A Tour of Casa Colombo / Design Ideas

2 / Lamudi Magazine

1 / Lamudi Magazine

For more informationgo to page 4-5

2 / Lamudi Magazine

Dear reader,

Welcome back to what is already the 2nd issue of the Property Now Mag-

azine, crafted by Lamudi.lk.

Building from the feedback we received, we have improved the magazine

and I’m proud to announce that this edition has even more content than

before. This diverse issue is packed with articles on real estate, architec-

ture, interior design and a touch of online trends. Input from experts in

!"#"$%&'"(") $*"+%#$&#$,-./&)"%$0& !$1)1+2#"#$-3$ !"$4(&$51)61)$7"1+$

Estate Market. For example, why is this the right time to invest in Colom-

bo? What are the hottest upcoming cities in Sri Lanka? And also, what is

the legal situation surrounding Real Estate in Sri Lanka? And much more!

On a global note, Lamudi is on a constant growth path and I would like

to use this opportunity to share an update. Lamudi has expanded its op-

erations into the UAE, our 34th branch worldwide. It is another addition

-$ !"$8+-/1+$)" 0-(6$1##&# &)8$"9")$.-("$:"-:+"$$ -$*)%$ !"&($%("1.;

home, at any time, worldwide.

Finally, I would like to conclude by wishing you a great reading experi-

ence. As always, feel free to openly share your feedback at any time.

Enjoy!

Managing Director Lamudi Sri Lanka

PROPERTY NOW #2

3 / Lamudi Magazine

Vivek Sadananthan

Deputy Editor For more information: [email protected]

CONTENT

CITY GUIDE / Page 6-7

COVER PROPERTY / Page 10-13

INVESTING IN REAL ESTATE / Page 16-17

COLOMBO: A LIFETIME INVESTMENT/ Page 20-21

MARKET REPORT / Page 22-23

AGENT INTERVIEW / Page 24

EMERGING CITIES OF SRI LANKA / Page 26-27

FEATURED AGENT / Page 28-29

SUCCESSFUL ARCHITECTS IN SRI LANKA / Page 30-31

THE ONLINE WORLD OF SRI LANKA / Page 32-33

LAWFUL REAL ESTATE: THE NEEDS TO KNOW / Page 38-40

A TOUR OF CASA COLOMBO / Page 42-43

TIPS FOR YOUR GARAGE / Page 44

ACE YOUR REAL ESTATE CAREER / Page 45

PHOTOGRAPHY FOR REAL ESTATE / Page 46

DESIGN IDEAS / Page 48-49

MODERN DESIGN IN SRI LANKA / 4-55

Alexandra Iuchyk

Editor

About us

Lamudi Sri Lanka is the country’s

leading online real estate plat-

form which has been connecting

buyers and sellers of residential

and commercial properties, both

locally and internationally, for

the past 16 months. Since day

one, Lamudi experienced

tremendous interest towards the

platform.

The sole purpose of the company is to

1##&# $/<2"(#$&)$*)%&)8$ !"&($&%"1+$!-."=$

land or commercial property. Lamudi aims

to provide as much information as possible

in order to empower the customer in their

decision making.

The company works creatively in providing

the best means for connecting the buyer

and seller via the website as well as the mo-

bile app. The app hosts more than 900,000

properties advertised among 34 countries

in Asia, Middle East, Latin America and

Africa allowing property hunters to search

for real estate all over the world.

To date, Lamudi Sri Lanka and its global

family has reached several milestones.

Growing to 34 branches within a span of

two years is an example of the growth of

the company. With many goals to reach in

the near future, Lamudi focuses on contin-

ually providing the Sri Lankan market with

the best service possible and information

about the real estate sector of the country.

5 / Lamudi Magazine

6 / Lamudi Magazine

Colombo is without a doubt the fastest

growing city in the country and accord-

ing to Mastercard research, in the world.

The city has grown rapidly over the past

!"#$"%&'#%()#*+&&"(,-$#%-./',#"!"&$#

area of Colombo has at least one project

under construction. Retail, residential,

commercial and hotel sectors have all

come together to create the new skyline

of Colombo.

The city is also home to several recre-

ational facilities and nightlife ambiance

that are all part of the urban develop-

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the city and its main developments.

Colombo 01 – FortFort, known for the World Trade Centre and the

stretch of hotels that provide stunning views of the

Indian Ocean and the Colombo port, is the kilometre

zero location for the nation. It holds a lot of heritage

in terms of historical buildings such as the presiden-

tial secretariat, president’s house, Dutch hospital

shopping precinct and the Gordon Gardens. All of

which were constructed during the Colonial eras in

Sri Lanka. It is also the central hub to its suburbs and

other amenities such as the central railway station,

bus station and the harbour while it connects to the

international airport via the regular road and the

expressway to Katunayake.

Colombo 02 – Slave IslandColombo 02 is prominently situated close to Fort

and Kollupitiya with several residential buildings

currently under construction. The area is surround-

ed by ancient architectural builds; however, it has

become the target of international investments

where projects such as One Galle Face by Shangri-La,

!"$*(# $/<&+%&)8$&)$ !"$1("1=$>+ 1&(=$?"# &)2$1)%$@!"$

Waterfront project by John Keells Holdings are cur-

rently under construction. Residents or passersby of

Colombo 02 often visit the Seema Malakaya of the

Gangarama Temple in the Beira Lake.

Colombo 03 – KollupitiyaThe area is famously known for the number of high-

rise buildings along Galle Road where many domes-

tic and international companies have set-up. Luxury

residential properties such as AVIC Astoria, Platinum

One and Iceland Residencies have also appear along

the stretch which is closer to well renowned schools

such as S. Thomas’ Preparatory, Methodist College

and Mahanama College. Kollupitiya is an area which

covers almost all the needs of the resident with

famous hotels and shopping malls such as the Grand

Hyatt Colombo, Galle Face Hotel, Crescat Boulevard

and Liberty Plaza.

Colombo 04 – BambalapitiyaBambalapitiya is a mixed community with schools,

,-++"8"#=$-A,"$#:1,"#=$("#&%"),&"#$1)%$!- "+#B$@!"$

locale is famous for the shopping mall, Majestic City,

which is considered to be a one-stop place for prod-

ucts from clothing to electronics. Some of the prom-

inent schools such as St. Peter’s College and Holy

Family Convent along with colleges such as ESOFT,

ICBT and IDM are well established in Bambalapitya.

Living here gives you access to all necessary ameni-

ties from clothing stores to supermarkets.

CITYGUIDE

7 / Lamudi Magazine

Colombo 05Thimbirigasyaya & NarahenpitaBeing a highly residential

area, it encloses open

grounds such as Shalika

Grounds, Henry Pedris

Park and the Police Park

for cricket, basketball and

football matches. If you are

planning to move to Colom-

bo 05, you can expect a calm

environment with a wide range

of restaurants around the area to

take your family out for dinner. It

is convenient to travel towards the

international airport in Katunayake

through the well-connected highway

adjoining the Baseline road, where

the country’s top hospitals, such as

Lanka Hospitals and Asiri Hospital are

situated.

Colombo 06 – WellawatteWellawatte has changed rapidly over the

years with several mid-range apartments

on the rise. This central location is packed

with small businesses and restaurants along

with supermarkets, cinemas and hardware

stores. Wellawatte is at the edge of Colom-

bo towards the south of the country which

,-))", #$ -$.1C-($("#-( $*++"%$ -0)#$#<,!$1#$

Kalutara, Unawatuna and Hikkaduwa. Though,

many schools and colleges may not be found, it

is a mixed community with residencies and small

stores to suit the mid-range house-hunters.

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8 / Lamudi Magazine

THE PERFECT PARADISE ABODE IN THE MAKING

7"%"*)&)8$("#&%") &1+$#:1,"#$&)$4(&$51)61=$@!"$

Residences at One Galle Face is much more than just

luxury living. Located in the heart of Colombo, be-

tween Galle Face Green Promenade and Beira Lake,

the property is being built with international exper-

tise. Project architects DPA Architects Singapore Pte

Ltd. are among the largest architectural practices

&)$4&)81:-("$0& !$-A,"#$1,(-##$4-< !"1# $>#&1$1)%$

experience in working on projects such as The Dubai

Mall, Marina Centre and numerous other landmarks.

Aimed at being simply the best address in Colombo,

apartments at The Residences at One Galle Face

come with the choice of 2, 3 or 4 bedrooms. While

the 2-bedroom unit covers 1, 727 sqft, the 3 bed-

rooms, 2, 260 sqft, and the 4 bedrooms 2,760 sqft,

the 4 bedroom deluxe unit provides 3,555 sqft of

living space. Additionally the 16 penthouses contain

Presenting 406 thoughtfully designed

living spaces spanning across 51

7//&'#3(#%#89,/:"&")#;&/;"&,$<#12"#

Residences at One Galle Face is a

project by world-renowned property

developer and hotel group, Shangri-

La Hotels and Resorts. It holds the

"',"".#/6#5"3(4#=&3#>%(?%@'# &',#

branded residential complex.

8 Duplex and 8 Simplex units.

Bringing an immersive experience to the 5 senses,

the interior of each apartment holds the promise of

being created and crafted with rigorous attention to

the highest level of quality and perfection.

D'"(&)8$#:", 1,<+1($9&"0#$&)$"9"(2$%&(", &-)=$

savouring the changing skylines of Colombo while

being surrounded by scenic beauty is just one of the

delights at The Residences at One Galle Face. Giving

a taste of truly integrated living, the property is di-

(", +2$,-))", "%$ -$@!"$DA,"#E$1$:(".&<.$/<#&)"##$

facility, the Shangri-La Hotel and The Mall. Bringing

the advantage of conducting business closer to

!-."=$+"8")%1(2$!-#:& 1+& 2$1#$0"++$1#$#"9")$F--(#$

of shopping, dining and family-friendly entertain-

ment all within easy access.

Amenities at The Residences at One Galle Face have

been fashioned with an individual’s as well as fami-

+2G#$"9"(2$)""%$&)$.&)%B$$H1,!$#:1,"=$3(-.$ !"$("F",-

&9"$:--+$ -$.&)&$ !"1 ("=$* )"##$,-()"($ -$("+1I1 &-)$

area, BBQ area to yoga room, kids activity zone to

club lounge, as well as countless other facilities and

3"1 <("#$,1 "($ -$ !"$.&)%=$/-%2$1)%$#-<+B$D'"(&)8$

ample car park space for the residential units

approximately to accommodate up to 700 vehicles.

ADVERTORIAL

10 / Lamudi Magazine


The spectacular Beira Lake, located in the

2"%&,#/6#A/-/.5/<#3'#+()"&4/3(4#'34(3 *%(,#

3.;&/!"."(,#%()#5"%+,3 *%,3/(<#,2"&"5$#

restoring the historic city centre to its

original grandeur.

Amongst the upcoming developments, the key

architectural creation will be Altair, the iconic

development by Indocean Developers on a

two-acre parcel of land opposite the Beira Lake.

Altair will be the tallest residential building in

J-+-./-$0& !$KL$F--(#B$@!"$,-)%-.&)&<.=$

already commissioned for design by acclaimed

architect Moshe Safdie (known for his globally

renowned design of Marina Bay Sands in

4&)81:-("M$0&++$("F", $1%91),"%$1"# !" &,#=$

high-end innovation and opulence on par with

global standards.

Key features of the project include 400 luxury

apartments in 3-5 bedroom formats and

lavish penthouses ranging from 1468 to 5273

#NB$3 B$@!"$:(-C", $0&++$-'"($-9"($OP=PPP$#NB3 =$

-3$:(".&<.$(" 1&+$#:1,"=$ 0-$F--(#$-3$+"&#<("$$

amenities consisting of swimming pools (lap,

leisure and children’s pools), gymnasium,

games room, sauna and steam baths, sun

decks, barbeque areas, play areas, a lounge,

a party arena and other recreational facilities

exclusively for the residents, and 6 levels of

ample parking for both residents and visitors.

Other high-rise constructions due to

decorate the Colombo Sky include the

telecommunication centre Lotus Tower,

Fairmount Apartments as well as the hotel

venture by Hong Kong-based Shangri-La hotels,

facing the Galle Face Green promenade. Once

completed, these skyscrapers will transform

!"$"I&# &)8$+-0;(&#"$9&# 1$&) -$1$.18)&*,") $

skyline for Colombo, deicting a city undergoing

rapid urbanisation.

ADVERTORIAL


Jaya Veva Colombo!(Meaning cheers and good health in Sinhala)

Sri Lanka is going through resurgence, with the coun-

try emerging out of a war period after several years.

It is reported that the country is targeting one million

arrivals this year to add to the post-war tourism

boom experienced over the last three years. Colom-

bo being the largest city contributes to about 50 %

of its GDP. The former Defence Secretary Gotabbaya

Rajapaksa , in June 2012, While unveiling his plans

for the Colombo City development plan commented

that compared to other Asian cities, Colombo had

much more room to grow. “The economic density of

Colombo is approximately only US$ 15 million per

square kilometer. In comparison, the economic den-

sity of Ho Chi Minh City is US$ 73 million; Bangkok

is US$ 88 million and Singapore is US$ 269 million”.

Colombo will have a major role to play in unlocking

the country’s potential which is looking at promot-

ing itself as a tourist destination along with a venue

for conventions and summits in a bid to increase its

tourism revenue.

Considering the current boom in tourism, there is a

growing demand for space among tourists as well as

high-end corporate and private customers. There-

fore, developments like ‘Altair’, which can become

architectural icons, will contribute towards positive

social and cultural changes for those residing in the

city. It is a well-known fact that the story of a city’s

development can be seen through its vivid skyline.

The upcoming developments are set to enhance and

magnify Colombo’s status as a commercial hub and a

new dawn in Sri Lanka.

Cities and their skylines City skylines across the world are changing each day.

Urbanisation and globalisation’s most visible faces

are the modern commercial and residential devel-

opments which are altering the skylines of all major

cities across the world. The conventional brick and

mortar structures are getting rapidly replaced by

modern and wonderful designs of glass and steel as

older landmarks give way to newer ones.

Skyscrapers studded skylines act as images of global

(",-8)& &-)$3-($,& &"#E$* &)8$"I1.:+"#$-3$0!&,!$

include the Empire State Building in New York, the

Petronas Twin Towers of Malaysia and the Burj

Towers in Dubai. These monuments have become in-

ternational icons, attracting millions of tourists who

throng every year to catch a simple glimpse of these

marvels. Established globally as an iconic structure

and a milestone in the history of real estate develop-

ment, Burj Khalifa in Dubai has inspired a kind global


movement to create taller structures. Its impact can

be readily understood with the annual average of 1.4

million visitors, steering hospitality business by up to

35% in that area. Skylines are also indicators of the

economic well-being of a city, marking its progress

in infrastructure development, technology and its

*)1),&1+$".:-0"(.") B$Q)$ !"$+1(8"($:&, <("=$ !"$

Marina Bay Singapore and Downtown Dubai have

transformed the world’s perspective of these cities.

Asian countries seem to be leading this growing

trend of creating spectacular architectural develop-

ments as a reference point and tourist destinations

for the entire world. It is estimated that today, Asia

accounts for almost 60% of the high-rises in the

world, with more than half of them built in recent

times. It is an obvious indication of economic growth.

Today government bodies are also taking an equal

interest in the progress by modifying policies for de-

velopers and engineers to innovate and explore new

and bold construction designs. With government

support and private participation these, dreams

can come true. Take the example of the oil compa-

ny, Petronas or the Jumeirah Group, an example of

private sector contribution to boost the tourism and

economy of a country. The Board of Investment sim-

ilarly is accelerating growth for the city and country

and is inviting partners to create resurgence of the

island nation, Sri Lanka.

68$F--(#$# (1&8! $ -0"(

63$F--(#$#+-:&)8$ -0"(

400 apartments

3-5$/"%(--.#$F1 #

1.468-5.273 sq. ft.

6 levels of ample parking

Altair in numbers


The advantages of real estate are many. Being

1$("1+$1##" =$& $-'"(#$:1( &1+$:(- ", &-)$181&)# $

(&#&)8$&)F1 &-)$1)%$:(-9&%"#$("+1 &9"+2$!&8!$1)%$

constant returns due to the stable nature of rent-

al income. Further, astute investors are less likely

to be defrauded when making real estate invest-

ments. Being a less volatile market, investors of

real estate could earn a higher return with superi-

or knowledge and valuation skills. The instability

of the stock market, especially during bear cycles,

as is prevalent today, makes the real estate asset

class a more viable option.

However, characteristics such as heterogeneity

- which, in turn, makes establishing a price for a

:1( &,<+1($:(-:"( 2$%&A,<+ $;$&++&N<&%& 2=$1)%$+1(8"$

per unit value, makes investing in real estate

more challenging than other investment asset

classes. It requires active management of the

asset, high transaction costs such as lawyers’

and surveyors’ fees and taxes. Further, buildings

depreciate over time and with changes in design

perspectives.

To overcome some of the above challenges,

Real Estate Investment Trusts (REITs) have been

created in many countries to securitise real estate

investments. Particularly, REITs provide retail

investors with an avenue to gain entry into seg-

ments of the real estate market that they would

not otherwise have been able to, similar to stocks.

REITs are tradeable on a stock exchange making it

easier to buy and sell a REIT compared to buying

and selling physical property. Further, REITs pro-

vide liquidity to real estate investments and trans-

parent price discovery through active trading.

Low correlation with other asset classes, such as

equity, debentures and gold, makes real estate

an attractive asset class to include in any invest-

.") $:-( 3-+&-=$Q)$- !"($0-(%#=$%&9"(#&*,1 &-)$-3$

the portfolio i.e. to generate similar returns for a

lower risk or higher returns with the same risk.

INVESTING IN REAL ESTATE

Guest writer:

Ravi AbeysuriyaCFA, Group Director / Chief

HI",< &9"$DA,"(=$J1)%-($

Group of Companies

Real estate is an important asset

class to include in an investment

;/&,6/-3/#,/#5"(" ,#6&/.#

)3!"&'3 *%,3/(#%()#4"("&%,"#:"%-,20##

Unfortunately, it’s not an easy task

for most investors to gain access to

the real estate market in Sri Lanka.

Real estate has traditionally been

more of an asset than an investment

for many Sri Lankans, who aspire

to own a home as the only real

estate investment. However, with

the prevalence of a low interest

rate environment and growth of

individual disposable income among

,2"#%B+"(,#%()#2342#(",#:/&,2#

segments, real estate has become

another lucrative investment vehicle

to increase personal wealth. Investing

in real estate such as apartments

or land in suburban Colombo is

becoming an increasingly attractive

investment option.


The return from real estate includes the apprecia-

tion changes in capital value which result from the

performance of the property, in addition to rental

income. This gives real estate investment not only

1$*I"%$&),-."$,-.:-)") $/< $1+#-$1)$1%%& &-)1+$

return potential at the time of disposal by anticipat-

ing various market developments. Various market

&)"A,&"),&"#$:("#") $&)$("1+$"# 1 "$.1(6" #$:(-9&%"$

the potential for generating alpha or excess returns

by accurately forecasting market developments.

Annual performance of Asset Classes 2000 to 2014

Candor research team has put together annual total

(" <()#$R/"3-("$ 1IM$%1 1$#&),"$2"1($SPPP$-3$*9"$1##" $

,+1##"#$1)%$,-.:1("%$& $0& !$ !"$(1 "$-3$&)F1 &-)B$

The Year on Year (YOY) increase of major asset class-

es has varied over the last 14 years. Equity invest-

ments have generated the highest returns in 9 out

of the 14 years, followed by YOY Gold, Fixed Income

and Land price increases. The land price increase

does not include the rental yields of around 6% one

could get from owning residential property at prices

around Rs.40,000 per sq ft. The key point remains

,+"1(T$%&9"(#&*,1 &-)$,-<) #$1)%$7"1+$H# 1 "$U$V-+%$

really do act as portfolio insurance when investors

most need it.

The Future>#$4(&$51)61$%"9"+-:#$",-)-.&,1++2$1)%$*)1),&1++2=$

the housing demand is expected to rise exponen-

tially with an estimated 1.5 million housing units

required in the next 15 years according to the

national housing policy. Urbanization in Sri Lanka

has compounded the housing need further in urban

areas. This has led to developments of real estate

further away from the city such as Rajagiriya where

land prices are still comparatively less expensive.

The current supply of housing is only a fraction of

the requirement. Demand is outpacing the supply

of middle class housing. Rapid urbanisation has led

to an appreciation of land value in areas around Co-

lombo putting more pressure on horizontal housing.

Vertical living close to Colombo has thus become a

sensible housing option in Sri Lanka with the roads

becoming severely congested and with both part-

ners working. The increase in per capita income has

resulted in the migration of many from the lower

middle class to the upper middle class. Thus, the de-

.1)%$3-($#".&$+<I<(2$,-)%-.&)&<.#$0& !$1'-(%1/+"$

pricing will outpace the demand for super luxury

apartments in the near future.

140%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

105%

70%

Equity

ASPI Index - CSE

Land

Land price data -

cov"(&)8$*9"$?4$%&9&#&-)#$

in the Colombo District /

Candor Research

Fixed Inc

AWFDR Sri Lanka -

Bloomberg

C(7%,3/(

Colombo Consumer

Price Index - CBSL

Cash

NSB Savings rate

Gold

SPDR Gold Shares

US - Bloomberg

35%

0%

-35%

-70%

an

nu

al t

ota

l re

turn


Today, the country’s growth is almost at the same

growth stage that Singapore reached some decades

ago. Based on World Bank data, Sri Lanka’s GDP per

capita grew by 1.7 times on average every decade

since 1960. However, the GDP per capita almost

tripled between 2005-2014. During last year, the con-

struction industry contributed to the GDP with over

20 percent, up from 14.4 percent in 2013.

The capital city Colombo, has been recognized as

the economic hub for quite some time and several

buildings around key commercial areas such as the

World Trade Centre, Bank of Ceylon, Dutch Hospital

Shopping precinct, Shangri La Hotel, ITC Hotel are

perfect examples of the increase in diverse econom-

ic activity that has occurred in the heart of Colombo

over the post war period.

A LIFETIME INVEST

Sri Lanka is blessed with the most extraordinary and varied beauty which, is one of the reasons for the island being consideredamong one of the best locations in Asia for tourism and real estate investment.


“the GDP per capita

almost tripled between

!!"#$ !%&

More recently, the government has taken steps to

rejuvenate the nation by investing in better roads and

!"# $$%&'$()*(+&,*#(-.). $/("0&11.12()3 (4#$)(

monorail in Malabe, and developing the

circular ring road.

Investing in Colombo today seems

to be quite similar to investing in a

gold mine: FDI from nations such

as China, UK, USA, Mauritius, In-

dia, Netherlands and even Singa-

"*# (3&$(5 1(6*%.12(.1/()*)&00.12(

$403.5 million, $382.5 million, $127.9

million, $98 million, $51.8 million, $98.5

million and $102.5 million, respectively.

According to data from the Board of Investment,

42 percent of foreign investment in 2014 focused on

the country’s property market.

Foreign and local investments resulted in a rapid in-

crease in the construction of apartments, con-

dominiums, hotels and other businesses.

In terms of residential properties,

there are more apartments for

sale in Colombo in comparison to

houses, since high rise living has

been welcomed in the city center

while the emerging suburbs such

as Malabe, Wattla and Battaramu-

lla have been attracting standalone

houses for mid- range house-hunters.

It seems that Colombo, the economic hub

of Sri Lanka, is becoming the main target for inves-

tors both, domestic and international.


MARKETREPORTThe property market of Colombo is being

'()*+',)(#-.#+/)#012134#.)56)*+#78#+/)#

country. Property demand in Colombo

has been on the rise with simultaneous

increases in price. With several hotels,

residential and commercial properties

on the rise in the area, several buyers

have started using the real estate

market as a source of investment aside

from the stock market and the foreign

exchange industry.

Buy (Luxury)

Rent per month (Luxury)

Buy (Mid-Range)

Rent per month (Mid-Range)


Colombo is the most searched city in the

country where more than 70 percent of the

searches that occurred on the Lamudi web-

site were towards the commercial capital.

The reasons being that Colombo shows sig-

1.4-&1)($)# 12)3(*1(# )7#1(*1(.18 $)+ 1)(

in the near future and the internet penetra-

tion is much higher in comparison to other

cities of the country.

Lamudi research indicates that people

aged between 25 and 34 are the modern

3*7$ 9371) #$:(;1(&<<.).*1/(.)(%&$(.< 1).4 <(

that males prevail the property hunt in Sri

Lanka with over 70 percent dominance.

It is not surprising to note that interest in

properties in Sri Lanka does not only lie

within the country, but outside as well.

Lamudi’s website data indicates that 20

percent of the searches for properties

around Sri Lanka is derived from other

countries. Aside from Sri Lanka, 15 percent

of the total searches for Colombo derived

from international searches.

Some of the top international search coun-

tries include United Arab Emirates, United

Kingdom, Australia, Qatar, United States of

America, Saudi Arabia, Canada, India and

Maldives. These are the countries where

Sri Lankans moved to for two common rea-

$*1$=()3 (-.8.0(-*16.-)(&1<(>*#( +"0*'+ 1)(

purposes.

Based on the onsite data retrieved from

the Lamudi.lk website, property searches

within Colombo have been weighing mostly

towards houses with a range between 68

to 70 percent of all searches. Apartments

gained the second interest among property

seekers. Commercial properties noticed a

small increase in interest from 3.7 percent

to 5.7 percent between Q4 of 2014 and Q1

of 2015.

25-34 years oldAge

MaleGender

House, apartmentProperty type

ColomboArea

937,0)#78#:37:)3+4#.));)3Based on Lamudi research


How long have you been part of the real estate

industry?

I started to work in this industry over 13 years ago.

Initially, I was practicing only part time, but as time

went by I felt that it had great potential so I started

to work full time. I am a web designer by profession,

so I designed my own website and initially I got only

one paid advertisement on my site but over time,

%.)3( ?*#)(&1<(-*++.)+ 1)(;(%&$(&50 ()*(2#*%(+'(

customer base.

How is the real estate sector of Sri Lanka evolving

over time?

Talking from my personal experience, I always saw a

AGENT INTERVIEW :

M.F. ZIARD FROM REALITY LANKA

demand for properties in Sri Lanka. What is changing

*8 #().+ (.$()3 (+&#@ )("#.- (67-)7&).*1/(

%3.-3(*58.*7$0'(-3&12 $(5&$ <(*1(<.? # 1)($.)7&-

tions. Since the end of the war, I saw an increase in

prices as well as foreign interest in local properties.

Although the current regulation limits the right of

foreigners, there are still few legal gateways for

those interested in purchasing local properties.

What tips would you give to new entrants in this

market?

My personal advice to anyone entering the market

is to be trustworthy: having a transparent way to

do business is essential in order to gain the trust of

your customers. The second main advice would be

to always follow up. In a competitive market such as

Sri Lanka, following up with the clients is essential. If

you do not follow up, someone else will and you will

miss out on a sale.

Where in Colombo would you suggest on invest-

ing in the near feature?

Apartments and commercial spaces are currently

booming in Colombo. The heart of the city is around

Colombo 3,4 and 6, thus these are the most popu-

0&#(&# &$(>*#(&"&#)+ 1)$:(AB- ($"&- $(.1$) &<(&# (

mushrooming in Colombo 3, the commercial hub.

<7=#/-.#>-61('#/)0:)(#471#'*#,*('*5#?0')*+.#873#

your business?

Although Lamudi has entered the market not so long

&2*/(;(5 0. 8 ()3 '(&# (+&@.12(&(5.2(<.? # 1- :(;("&#-

ticularly appreciate the fact that the team takes time

&1<( ?*#)(.1(*#< #()*( <7-&) ()3 (&2 1)$(&1<(*#2&1-

.$ (<.? # 1)( 8 1)$(&1<($ +.1&#$:(C3.$(.$($*+ )3.12(

that has never been done before here in Sri Lanka.

Email: [email protected]


THE

EMER

GIN

G A

REA

S O

F SR

I LA

NK

A The phrase “fastest

growing city in

Sri Lanka” directs

attention towards

Colombo. The reason

being that until late

!!@A#+/)#?71*+34#=-.#

unstable due to the

?'B'0#?7*C'?+D

The government

had to focus on

concluding the

?7*C'?+#'*#73()3#+7#

attract international

investments. Thus,

it had poor funding

means to develop the

nation entirely.

Today, the country

is noticing a boom in

several industries,

.:)?',?-004#'*#+/)#

real estate and

tourism industries.

While both domestic

and international

investors focus

on their vision

of transforming

Colombo into a luxury

city, there are other

areas in the country

where developers

have begun investing

+7#3)-:#+/)#E)*),+.#78#

the growing economy.

KandyKandy is an up-and-coming town in

the country. The region’s climate and

attractions have caught the attention

of tourists and locals, consequent-

ly creating opportunities for hotel

investments and work in the tourism

industry.

In addition, the local property mar-

ket has been boosted thanks to

city-dwellers who often move back to

their hometown for retirement.

Others look towards investing in a

holiday home in Kandy due to the

high quality of life and lower property

prices.

With the expressway from Colombo

to Kandy under construction, which

reduces the travel time by hours,

and the government’s interest in

revamping the city, Kandy is the next

best investment spot for residential

properties.

Similar to Colombo where vertical liv-

ing is highly popular, sky-high apart-

ments and condominiums are being

demanded in Kandy, lately. It now at-

tracts a large number of buyers who

are drawn to the possibility of living in

a luxury home with scenic views.

GampahaC3 (-.)'(%3.-3(0.) #&00'(+ &1$(D48 (

villages” has been noted to be rapidly

growing over the recent past. It is

one of the largest urban areas in the

western province where many daily

commuters to Colombo come from.

The city has its own historic value,

$" -.4-&00'(.1()3 (5*)&1.-&0(2&#< 1((

NEGOMBO

GAMPAHA


%3 # ()3 (8 #'(4#$)(#755 #()# (.$(

considered to have been planted in

the country. The city is also closely

situated to the renowned Negombo

which is part of the Gampaha district,

%3 # ()3 ($ -*1<(0&#2 $)(4$3(+&#@ )(

of the country is located.

Many developers have invested in

mid-range housing projects in the

region since it is in high demand with

the local community. With lower

home prices and the close proximity

)*()3 (-.)'(*>(E*0*+5*/(+&1'(4#$)9

time home buyers show keen interest

in the area.

GalleOne of the most historic towns in

the country, Galle, has also been

absorbed into the nation’s develop-

ment. With some of the best beach-

es around, the city is very famous

among tourists and it attracts several

thousand travelers every month.

The well-renowned Galle Fort and its

surroundings, which were built during

the 17th and 18th centuries, uniquely

identify the city from the rest of the

country.

Once again, travel to the city has been

made easy by the completion of the

expressway to Galle. Several devel-

opers have noticed the growth of

the town and have begun creating a

skyline in Galle as well. Fairway Hold-

ings is a major investor in Galle, which

company has begun construction in

luxury high-rise living in the city.

NegomboHome to the world renowned stilt

4$3 #+&1(&1<(*1 (*>()3 (0&#2 $)(-.)-

ies in the country in terms of popula-

tion, Negombo, has become a target

for residential real estate, hotels and

resorts. The city is ideally located with

a very close proximity to the Bandara-

naike International Airport in Ka-

tunayake and also gives residents and

tourists the access to travel quickly to

and from Colombo using the express-

way from Katunayake.

The destination is very popular

&+*12()*7#.$)$(<7 ()*(5 .12(4$3-

ing-friendly, a spot for water sports

and the home to one of the best

beaches in Sri Lanka. The coast is

400 <(%.)3(# $*#)$(&1<(3*) 0$()*(

accommodate short term stopovers.

In addition, several large resorts are

being constructed around the area,

$" -.4-&00'()3 (F #.)&1- (G#*, -)(5'(

Aitken Spence, to accommodate the

growing tourism in the country.

The city is also growing to be one of

the top real estate areas in the coun-

try, since it accommodates several

amenities necessary for a modern

resident, such as supermarkets,

cinemas, schools, businesses, indus-

tries and residencies. Since residential

property and bare land prices in Ne-

gombo are much lower in comparison

to Colombo, developers have had the

freedom to construct mid-range to

luxury houses for less cost. It allows

people to purchase bigger homes for

a lower price.

GALLE

NEGOMBO

KANDY


H#:(C(.$(*1 (*>()3 (>&$) $)(2#*%.12(# &0( $)&) (4#+$(

in Sri Lanka with a colossal clientele. With more than

4>)'()3*7$&1<(>*00*% #$(*1(>&- 5**@(&1<(&(-0. 1)(

base which encompasses many of Sri Lanka’s richest

individuals, it is certainly thriving in the market as an

impact player when it comes to cracking deals. The

key areas that Mr. T focuses on are building trust and

providing unexpected levels of professionalism using

both technology and innovation in order to cater

to as many clients as possible. In this day and age,

where technology is dominating the world, Mr. T has

come forward to provide opportunities to all those

who are looking for various properties either to buy

or rent, be it permanent or temporary and one of

the most fascinating aspect of their service is the

practical knowledge that they possess when it comes

to advising the client on the much needed issues,

problems and challenges that are faced by many of

the clients in terms of any property related matter.

At Mr. T, it is of utmost importance to be honest,

transparent and trustworthy in order to do the real

estate broker’s business in this part of the world

especially when the number of amateurs are more

than the number of professionals.

The history of Mr. T is quite inspiring although the

company underwent formal registration a couple

of years ago and is currently run by its directors, it

must be said that this family business was in exis-

tence since the 1980’s when there were only two

ways of attracting clients in this trade, one being

MR. TADVERTORIAL

THE REAL ESTATE GIANT


predominantly through adverts on the newspapers

and the other by word of mouth. Today, the company

has grown to such an extent that it has also expand-

ed into other businesses such as corporate training,

event solutions and corporate branding and not only

is it venturing into other sectors but it is also on the

lookout for various other business opportunities in

order to make its mark in the business world.

When we thought of expanding and going big, the

main goal was to professionalise this brokering

business and I am happy to state that by taking the

approach we have taken and having come a long way

since the business was run by my parents, we have

to a great degree succeeded in bringing this business

to a stage where people respect it and consider it

more like a profession as opposed to a job anyone

could do’, shared one of the directors of the

company.


>-61('F#G/-+#-3)#+/)#+3)*(.#78# !%"#'*#H7076E7I

Msnarchitects: From what we have noticed this

' &#/()3 # (.$(< 41.) 0'(&()# 1<(>*#(>7$.*1I(" *"0 (

seem to love the mix between traditional Asian and

modern style. Sri Lankans seem to be shifting away

from the traditionalistic style and are opening up

more to new creative designs.

Another trend that we are noticing is the preference

>*#(<.? # 1)(+&) #.&0$:(J$(&1( !&+"0 /(.)($ +$()3&)(

people do not like real wood for their homes, but

"# > #(&(%**<(41.$3.12:(K*(>*#()3.$(' &#()3 ()# 1<(

2* $()*%&#<$(<.? # 1)(+&) #.&0$($7-3(&$(-*+"*$.) (

%**<($.1- ()3 '(&# (+*# (-*$)( ? -).8 (&1<(<7#&50 :

L: How would you describe your style?

M: Well, we don’t have just one style but rather a

mix of cultures and personalities which translates

.1(<.? # 1)(.< &$(%3.-3(% ()3 1(-*+5.1 ()*2 )3 #:(

Our clients come to us with a general idea of what

they are expecting and we then come up with ideas

proposals. We love working together as it gives us

a big pool of ideas, but as you might imagine it can

also be very confusing, as each of us are very opin-

.*1&) <(&1<(# -*++ 1<$(<.? # 1)(.< &$:(L*#()3.$(

reason, based on the scope of the project we decide

between working in groups or individually, to avoid

unnecessary confusion and clashes of ideas.

L: What is the best part of working on a project?

M:(M&-3("#*, -)(.$(<.? # 1)(&1<(3&$(.)$(*%1(1&)7# (&$(

well as its ups and downs. Architectural projects are

very time consuming and can take up to one year,

whereas interior design projects are much quicker.

The best part is usually when a customer comes

and outlines what they want; what follows is the

designing part which is fun as we read and research

past work to come up with new ideas. The “down”

part starts when the construction begins! There are

always some last minute problems and a million

things to take care of. However, once the project is

completed, the satisfaction of seeing its realisation is

extremely rewarding.

SUCCESSFUL ARCHITECTSIN SRI LANKA

J*#-#C713'./'*5#?'+4#.1?/#-.#H7076E7A#=)#?-*#='+*)..#-3?/'+)?+13-0#-*(#().'5*#?3)-+'7*.#'*#-067.+#)B)34#

?73*)3D#G/-+#'.#0)..#B'.'E0)#'.#+/)#KE)/'*(#+/)#.?)*).L#=73;D#G-*+'*5#+7#,*(#71+#673)A#>-61('#+77;#7*)#

step further and interviewed a team of young and dynamic ladies, who also happen to be professional

architects and interior designers, working together at Msnarchitects. With over ten years of experience,

their portfolio embraces projects designed for commercial, residential, hospitality and educational

developments.

Ranga Panditharathne

Chartered Architect

Vishaka Thantrige

Interior Designer

Sumayyah Jamaldeen

Interior Designer

Santhushti Edirisinghe

Interior Designer


Royal PalmsA consultancy project which included the

refurbishment of the lounge and the bar of

the hotel. Formal, informal and private spaces

were created to add more vigor and usability

to the existing spaces. Locally sourced furni-

ture, lighting and accessories make the interi-

or more appealing and chic.

Mushtaq ResidenceWith its well-planned structure and elegant

swimming pool, the house has an attractive

concept, blending modern and minimalist

design. The large opening and water features

have brought harmony between the interior

and exterior the residence.


What is the digital landscape of Sri Lanka?

Sri Lankans are very tech savvy and take great pride

in being one of the early adopters of technology. We

have high online penetration and 3G and 4G have

been available across the country for a long time.

Generally speaking, there are three Internet drivers

which are meaningful for a country: accessibility,

&?*#<&5.0.)'(&1<()3 (@1*%93*%:(

Accessibility: it is great and it is almost 100 percent,

since we have access to internet across the whole

country.

MN73(-E'0'+4F it is very high since we enjoy one of the

cheapest rates in the world. Additionally, the costs of

the phone devices went down since local operators

started to introduce their own smartphones raising

their penetration from three to 12 percent in only two

years.

Know how: this is the one which is hard to crack since

it is mainly about people and whether they see the

value in using the internet. I believe, what we haven’t

THE ONLINE WORLD OF SRI LANKA

Interview with a digital expert:

Rohan JayaweeraCOO at Antyra Solutions,

previously employed at Google

Sri Lanka and Maldives


done enough is the articulation of the internet’s

value to the people who live outside big cities which

is in fact the majority of the population. However,

even though these people do not see the value of

Internet now, probably because of their lifestyle

which is less tech dependent. I think this is going

to change rapidly. If you think that three years ago,

when I was working at Google there were about 2.5

million people online and today this number has

#.$ 1()*(&0+*$)(48 (+.00.*1/(.)() 00$(7$()3&)(&(8 #'(

exciting time is ahead for Sri Lanka.

Do Sri Lankan's still prefer traditional methods?

How are they embracing the online channels?

Traditional channels still work and will continue to

%*#@=()3 '(+.23)()&@ (<.? # 1)($3&" $/(57)(%.00($).00(

be there. I think that sometimes businesses tend to

adapt isolated approaches to things, whereas life is

more about integration rather than isolation. In my

opinion, if you want to do a marketing campaign,

)3 # (&# (< 41.) 0'( 0 + 1)$(*>(*10.1 (&1<(*N.1 (

that have to be combined. Depending on the prod-

7-)(+*# (*N.1 (*#(*10.1 ( 0 + 1)$(%.00(3&8 ()*(5 (

included, but if you think that digital is going to sort

out everything for you solely, you are wrong. Today,

.)(.$(1*)(&(O7 $).*1(*N.1 (*#(*10.1 /(57)(#&)3 #(

*N.1 (JPQ(*10.1 :

G/'?/#'*#4713#7:'*'7*#-3)#+/)#67.+#)N)?+'B)#

online channels in Sri Lanka and why?

It really depends on the objective of your business

and what you want to achieve. For instance if you

want to create awareness and you are targeting

the teenage group, Facebook would be the optimal

channel. On the other hand, if you are into hospital-

ity or tourism, Google would be a much

+*# ( B-. 1)(%&'()*(# &-3(*7)()*('*7#(-7$)*+ #$:(

Tech support instead, seems to be a very important

niche on Twitter, which brings together very tech

savvy people. So, as you see it really depends on

what you want for your brand and most of the time

.)(.$(&(-*+5.1&).*1(*>(<.? # 1)("0&)>*#+$:

G/-+#(7#471#E)0')B)#-3)#+/)#E)*),+.#78#1.'*5#

social media in business? Do these also apply to

real estate?

Well, it is like asking what is the return of invest-

ment of your own mother? Can you really give

an answer to that? I don’t think so. You are here

because of her. It is the same for social media: it is

no longer an option but rather a must that you just

have to do as it increases awareness and trust.

;)(.$(- #)&.10'(5 1 4-.&0(>*#(# &0( $)&) /(&$(.$(5 1 4-

cial for every business: for some more, for others

0 $$/(57)(.)(.$(< 41.) 0'(5 1 4-.&0(>*#(&00(57$.1 $$ $:(

What do you think are common mistakes busi-

ness owners make when building brand aware-

ness on social media?

Going with preconceived notions, most of the or-

2&1.$&).*1$(3&8 ()3 () 1< 1-'()*(< 41 ()3 (%*#0<(

as they see it, rather than accepting the world as

it is. In other words, businesses should try to work

with the challenges, the positives and strengths of

a given market in order to assemble and get their

message out. Most of the time, companies think

that the way they see the world is the way the rest

of the people see it. Well, it is not. Customer is

customer, market is market: you can’t do business

with the intention of changing the market, in order

to succeed rather you have to adapt to it. The same

applies for real estate: you are still selling a prod-

uct to humans who have lives, habits and so on.

So, you have to make your product meaningful for

them and adapt to their needs.


What are the pluses and minuses of using solar

panels?

Clean energy, reduction of expenses and promotion

of environmental awareness are probably the most

.+"*#)&1)(5 1 4)$:(K.1- ()3 '(>71-).*1(%.)3()3 (

7$ (*>(1&)7#&0($710.23)/()3 '($.21.4-&1)0'(

reduce carbon emissions, thus, they

are extremely eco-friendly.

With their implementation, peo-

ple are enabled with an option

to generate their own energy

and become independent from

the country’s energy system,

%3.-3(# $70)$(.1(&($.21.4-&1)(

reduction in cost. Lastly, it has ex-

tremely low maintenance costs and

has a warranty of almost three decades.

On the cons side, there are no real disadvan-

)&2 $(&$.< (>#*+()3 (&?*#<&5.0.)'(*>()3 (.1.).&0("#.- :

M3)#+/)#.70-3#:-*)0.#-N73(-E0)I

Due to the high initial investment, they are mainly

purchased by the middle or high class income group.

However, there are some packages which require the

-7$)*+ #$()*(4!()3 ("&1 0$()3 +$ 08 $/(&1<(&# ()37$(

+*# (&?*#<&50 :

It is important to remember that once the system is

installed, the customer becomes energy indepen-

dent, therefore, it is with no doubt an investment

%3.-3("&'$(*?(.1()3 (0*12() #+:

Will the bill equal zero? Does the rain or cloudy

?7*('+'7*.#-N)?+#+/'.#:37?)..I

For each energy unit generated by the system, free

energy from the National Grid is generated. Until the

solar output is equal to the house consumption for a

particular month, the bill will equal zero.

C3 ( 1 #2'( B-. 1-'(-&1($0.23)0'(0*% #(<7#.12( !-

treme rainy months, however the electrical produc-

tion is still present since the system is able to store

power during sunny days.

Is solar suitable only for domestic needs?

J--*#<.12()*()3 (0*-&0()&#.?(#&) $/()3 (71.)("#.- (

is high in the domestic category. This

-&) 2*#'(.$()3 (*1 (5 1 4).12()3 (

most from solar solutions. Howev-

er, those who consume energy in

GP categories, specially the cor-

"*#&) ($ -)*#(&0$*(2&.1(5 1 4)$(

since they can enjoy both: cost

reduction and green image.

How Genso Solar become an

industry leader among so many

solar providers? What is the Special-

ty of Genso?

Genso is formed and driven by a professionals

%3*$ (+&.1(*5, -).8 (.$()*(< 0.8 #(&?*#<&50 ( 1 #2'(

to the whole country. We always adhere to the in-

dustry standards and use only the best technology

such as Trina Solar, which is the N°1 solar panel in

the world rankings.

THE POWER OF THE SUN

Interview with:

Dr. Awantha AtapattuChief Coordinator of Genso

Power Technologies (Pvt) Ltd.

“Our main objective is

#+7#+7#()0'B)3#-N73(-E0)#

energy to the whole

country

ADVERTORIAL


LAWFUL REAL ESTATE

THE NEED-TO-KNOWS

“Do you own the property?” is a very

common question directed to the

seller by most potential buyers. This

is due to the growth of several phony

and fraudulent property owners

in the market. The Government

of Sri Lanka has strengthened the

real estate laws over the years in

an attempt to reduce shams and

fraudulent ownership documents.

However, the lack of knowledge

among the general public with

regard to property laws results in

6-*4#:)7:0)#8-?'*5#('O?10+').#=/)*#

purchasing property.

Accordingly, Lamudi Sri Lanka

interviewed a leading legal

representative, Sabina Omar, in order

to shed light on the legal elements of

real estate in Sri Lanka.

Sabina OmarLawyer


How do I check if the property is problem-free?

The title is very important because it establishes the

history of the property and how ‘healthy’ a piece of

land is. Title is a legal term that establishes the lawful

ownership of the property by an individual or organi-

$&).*1:(C3 # >*# /()3 (4#$)($) "(%3 1('*7(&# (0**@.12(

to purchase a property is to check if the title is clear.

The accepted practice is to conduct a review of the

title going back 25 to 30 years.

A property with a clear title ensures that it can be sold

or mortgaged with relative ease when necessary be-

cause the sale of property in Sri Lanka involves exten-

$.8 ("&" #%*#@(&1<(&($.120 ( ##*#(R&1<()3 ( ?*#)$()*(

-*## -)(.)S(-*70<(-*1$7+ (&($.21.4-&1)(&+*71)(*>().+ :

C3 # (&# (>*7#($.21.4-&1)(<*-7+ 1)$()3&)($3*70<(5 (

# 8. % <(5'(&(0&%' #()*(41<(*7)(.>()3 ().)0 ()*(&("#*" #-

ty is clear:

T( The Deed (transfer, gift etc.) relevant to the property

T( Land registry search extracts

T( Survey plan

T( Title report (prepared by a lawyer based on the

above 3 documents)

According to Sabina Omar, it is important that you

obtain the four aforesaid documents to establish clear

title and avoid any risks related to fraudulent or forged

documentation.

When investing a large amount of money, one cannot

be too-careful. For this reason, there are few more

ways to identify if the ownership of the property is as

stated:

T( P*198 $).12(- #).4-&)

T( E #).4-&) (*>(*%1 #$3."

T( Utility supply and bills

T( K)# )(0.1 (- #).4-&).*1

These documents can be obtained from the relevant

municipal council/local authority/service provider and

should be provided by the seller.

Prior to the purchase of property, it is essential that


the buyer consults a lawyer who will provide legal

advice on the transaction including conducting a title

search, review of documentation and highlight any

risks relating to the property and assist in making the

transaction smooth. As there are several ways for

problems to occur in a property transfer, it is neces-

sary to check for the following:

T( Encumbrances against the property such as mort-

gages and caveats

T( Pending litigation such as land dispute cases

T( Government grants such as long term/99 year leas-

es and special properties such as Swarnabhumi and

Jayabhumi which are transferred by the Govern-

ment subject to strict terms and conditions

Furthermore, it is also necessary to note that all

agreements relating to property transactions need to

be executed by a Notary Public at which point both

parties – buyer and seller – need to be present. Stamp

duty is a crucial element during a transfer which is

paid by the buyer or the lessee. Generally, a property

is transferred as a result of a sale or lease. Payment

of Stamp Duty is required by law and is approximately

four percent of the transaction value for sale/transfer

and one percent of the transaction value for leases.

!"#$%"!"#&'(#)*"+,-+#.&/)#01!#+1'213,',43)5

Most condominiums are advertised for pre-sale where

the partial sale of the property maybe done before the

construction begins or during the process of building.

C37$/()3 (0&%(&1<("&" #%*#@(&# (<.? # 1):(

During the sale of the condominium, the buyer and

seller sign a document called the “Sale and Purchase

Agreement” which is not a deed of transfer or proof

of ownership. Once the construction is at a mid-way

stage and/or has been completed, the relevant local

authorities visit the construction site to identify and

-*14#+(.>()3 (57.0<.12(3&$(5 1(-*1$)#7-) <(&--*#<.12(

to the plan that was approved by such authority. Once

the construction has been approved, as being accord-

ing to the approved plan, the Condominium Deed of

Declaration is prepared and executed by the owner/

developer. This deed establishes the individual condo-

minium units and the common elements attached to

each unit such as the gym, swimming pool and lobby.

Once the Condominium Deed of Declaration has been

executed the owner/developer can transfer legal own-

ership of a condominium unit to the buyer.

Can foreigners invest in Sri Lanka?

The real estate market is currently a hot investment

spot for many international investors; however, the

legal procedures for foreign investments in property

are strict. Foreigners and international companies

are restricted from purchasing land or houses in Sri

Lanka. They are only allowed to purchase condomini-

7+$(*1(*#(&5*8 ()3 (>*7#)3(6**#(R&$(" #()3 (+ &1.12(

$" -.4 <(.1()3 (&""0.-&50 (0&%S:(F*% 8 #/(.)(.$(# O7.# <(

by law that the buyer makes payment in full in the

form of inward foreign remittances before the deed of

transfer is signed.

If the property is being leased by a foreign company,

they are required to pay a 15 percent tax on the total

value of the lease. However, an exemption from the

tax is applicable in the case of condominiums on or

&5*8 ()3 (>*7#)3(6**#(R&$(" #()3 (+ &1.12($" -.4 <(.1(

the applicable law) provided the duration of the lease

is over 35 years and the full lease rental is paid upfront

by way of inward remittance of foreign currency prior

to or at the time of signing the lease.

Although the nation is currently a property investment

magnet for locals and foreigners, the Government has

enforced several laws to assist and protect the rights

of the modern property buyer. Thus, it is recommend-

ed to consult a lawyer to follow applicable laws, guide-

lines and procedures when transferring and register-

ing the ownership of properties to ensure clear title

and protect the interests of the buyer and seller from

fraudulent transactions and the related legal conse-

O7 1- $(&1<(+.1.+.$ ("*$$.50 (41&1-.&0(0*$$ $:

41 / Lamudi Magazine41 / / / / / / / / / / / / / / / / / / / Lamumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumumudidididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididididi M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M Magagagagagazazazazazazazazazazazininininininininininininininininininininininininininininininininininininininininininininininininininininininininineeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee


Boutique hotels seem to be gaining popular-

ity nowadays all over the world; what is less

!"#$%&'(")"$*%+,%-&"%".# -%/"01+-+'1%'2%#%

34'5-+65"7%&'-"!8%91%'$/"$%-'%01/%'5-%:'$"*%

Lamudi toured the most famous and uncon-

ventional boutique hotel of Colombo: Casa

Colombo.

During our thorough tour with its designer, Mr. Lalin

Michael Jinasena, we learned that the property was

owned over 200 years ago by a wealthy Indian trader

with a passion for architecture. The purchased land,

which back at the time extended over Duplication

and Galle road, has unfortunately shrunk over the

years and was not well maintained. When Mr. Lalin

stumbled upon this property it was in extremely

bad condition: ceilings were falling apart, rain was

coming through the roof and the backyard had

turned into a dumping ground. However, he saw the

potential of converting it into an elegant boutique

hotel, which at the time (2007), was something very

uncommon in Sri Lanka.

What we witness today, is a beautiful blend between

three styles: the Moorish architecture displayed in

!"#$%&'()#*%%+(,-#',.#/'00&1# !"#)%0%,('0#'+)!( ")-

ture translated in the high columns and white faced

and lastly the modern style, which is the latest addi-

tion and is the one defying all the interiors.

A boutique hotel, as Lalin explains, is a small hotel

!' #%2"+&#3"+&%,'0(&".#&"+4()"# %#( &#-5"& &6#74",#

!%5-!# !"+"#(&#,% #'#&3")(8)#."8,( (%,#%9# !"#,5$-

ber of the rooms, it usually ranges between 10 and

50 rooms and has its own unique style which is not

replicated elsewhere.

Our tour started right at the entrance where the

“Zaza” Bar is located; the idea behind its design was

to give guests the perception of being outside the

hotel, rather than being segregated in the same area.

The bar is “contained” in a glass box and features lo-

cally made chairs which light up in the dark providing

a beautiful and relaxing atmosphere.

Right next to the Zaza Bar, is the garden restaurant,

the T-Republic, where modern comfortable chairs

are located among tall trees giving a fresh and quiet

corner to taste high quality Sri Lankan tea.

Then, entering the lobby, guests can sit in large Cane

Ball chairs;the most unusual feature of this area are

)%2""# ':0"&6#;!"(+# %3&#+"&"$:0"#'#&"0") (%,#%9# +""#

trunks, which usually are discharged by carpenters

as they are considered unaesthetic.

A TOUR OF CASA COLOMBO

Interview with:

Mr Lalin Michael Jinasena<!'(+$',#%9# !"#."&(-,#%=)"#

Lalin Design


In this case, however, a collage of these small nodes

%9#)!5,>&1#"')!#/( !#'#.(2"+", #&!'3"1#)+"' "&#'#

beautiful and unique pattern.

The dining, called the HVN (or “Heaven”), is another

$'& "+3(")"#%9#'#$(?#%9#.(2"+", #& @0"&A# !"#*%%+(,-#

dates back 200 years and is made of Italian marble

imported by the Indian trader, which was cut in tiny

pieces to form a stunning mosaic style, amazingly

preserved over the years. The high ceilings were pre-

served in their original specs but were painted gold

to give the impression of entering into a new glam-

orous world, along with an antique fan with only two

very long blades suspended in the air.

A Spanish artist took charge of the main wall rep-

+"&", (,-#$".( ' (,-#B(&!(&#(,#.(2"+", #3%&( (%,&#

*%' (,-#':%4"# !"#)0%5.&6#

The dining room is followed by a big library where

large chairs are placed for the guests to sit and enjoy

reading or a quiet chat, while enjoying the view of

the pool.

Unquestionably, even the bathrooms were designed

%# !"#&$'00"& #." '(06#C9#' #8+& #-0',)"#@%5#)',D #

8,.# !"#/'&!:'&(,1#@%5D00#:"#&5+3+(&".# %#8,.# !' #

it takes the form of an in-wall waterfall, with water

coming down from the ceiling.

The ex-dumping ground has now been turned into a

stunning pink swimming pool, contoured with what

can be considered the most unusual sun beds and

.'@#:".&# !' #%,"#)',#8,.#(,#E+(#F',>'6

;!"#-5"& #+%%$&1#'00#.(2"+", #(,# !"(+#)%0%5+# !"$"&1#

are quite spacious with high ceilings which em-

phasise their size and feature glass shower cabins,

antique bathtubs and kings size beds. Referring back

to the “personalised customer service” which is a

distinctive feature of a Boutique hotel, the guests

of the hotel are given a phone which allows them to

communicate directly with their Casa Domo (per-

&%,'0#G5 0"+H1#/!%&"# '&>#(&# %#950800# !"#-5"& D&#"4"+@#

dream.

As a reminder of the local beauty, the walls of the

corridors are all dressed with artistic photos of Sri

Lanka which have been taken by Lalin himself on his

extensive travels. The images are also available for

sale in the lobby for those who want to take a little

piece of the country back home.

Overall, the structure is absolutely astonishing and

represents a perfect blend between antique and

modern. It comes as no surprise that it has gained

over 20 local and international awards, including the

Best Designed Boutique Hotel in the World in 2012.


for that vehicle as well. Ideally, a two to three spare

-'+'-"#:'@#/%50.#3+%4(."#$%+"#*"?(:(0( @1#/!(0"#

also giving space for the accommodation of a larger

vehicle.

Decide the design Another key aspect of planning the garage would be

to decide if the garage is an attached or detached

garage. Both have their advantages and disadvantag-

es whilst facilitating the same purpose. An attached

garage would cost less and would be lighter on the

pocket in terms of the electrical system, as the entire

house and garage would be one unit. However, there

may come a time when you might have to upgrade

the panel to ease the use of power tools. Detached

garages come with the advantages of more privacy

and security and will also avoid the risk of harmful

vehicle fumes from entering the house.

DIY is not always the best choice F'& #:5 #,% #0"'& 1#8,.#'#)%, +') %+6#<%$3'+"#)%& &#

to building the best garage for your house. Remem-

ber that the cheapest is not always the best, and

what you’re looking for is a long lasting construction

/( !#$50 (30"#:","8 &6#

A garage has never been used for the sole

purpose of parking a vehicle. For any home,

the tools and kids’ bikes brings the garage

to mind. Hence, the idea of building a garage

brings about a great value to any home.

There are a number of advantages to build-

ing a garage. Protection of your vehicle from

weather damage and theft is the funda-

mental idea behind this construction, but

it could also act as a storage space or even

a cosy retreat, depending on the necessity.

The success to this garage comes from mind-

ful planning before building the garage.

There are three tips for a successful garage:

Choose the sizeBefore looking at building the garage it is vital to

8,'0(&"#( &#&(I"#."3",.(,-#%,# !"#35+3%&"6#;!(&#/(00#

have to be considered for not only the present mo-

$", 1#:5 #'0&%#9%+#/!' #$(-! #:"#(,#84"# %# ",#@"'+&6#

If the necessity for a second vehicle does come

'0%,-1# !",# !"+"#/(00#!'4"# %#:"#&5=)(", #&3')(,-#

TIPS FOR YOUR GARAGE

Guest writer:

!"#$% &'(#)Sales consultant at Ford Sri Lanka


In the fast-paced, highly competitive and rapidly

changing world of real estate, being successful isn’t

rocket science, but it isn’t easy either. So here’s how

you can ace your real estate career:

Accelerate: The real estate ball game is all about

dealing with people and because of this, it is the fact

of the matter that people often judge you on how

they perceive you. Always be open to learning experi-

ences and always embrace education opportunities,

whether they are required or not. Invest your time

in seminars and training on people skills to expand

your core competencies.

Connect: To have sensible ideas won’t be enough to

(,&3(+"#',.#(,*5",)"#3"%30"6#J..#"$% (%,'0#3%/"+#

to your reasoning and pretend that every single per-

son you meet has a sign around his or her neck that

says, “Make me feel important.” Cater to your clients,

ACE YOUR REALESTATE CAREER

Guest writer:

Erik Deoul RajMarketing Manager at Everjobs

show them that you care, and you will be rewarded

-+"' 0@#9%+# !"#"2%+ 6#

Empower: Being “tech able” has become a most

prized possession of the realtor and the most suc-

cessful are those who have embraced it as a valuable

tool in conducting business. With the advent of social

media, the world is now your client. Venture on to

Facebook, Twitter, LinkedIn, Google+ and personal

blogs to connect with a wider audience.

Finally, understand the market and the competition.

K,%/#@%5+#':(0( ("&1#:% !#:5&(,"&&L/(&"#',.#8,',-

cially. Learn everything you can about your market

and where buyers and sellers come from. Entering

the real estate career with realistic expectations and

a plan for overcoming obstacles will help you avoid

becoming just another statistic. Get more fueled up

and get started, happy hunting!

Real estate is a very exciting and rewarding career choice. If you’re the type of person who has

#%;#+$%2'$%1"<'-+#-+1<%(+-&%="'=!"%#1/%!+>",%-'%-&+1>%'5-,+/"%'2%-&"%?'.*%-&+,%+,%/"01+-"!@%-&"%

0"!/%2'$%@'58%A"#!%",-#-"%#<"1-,%-"1/%-'%&#)"%65+-"%/+)"$,"%?# ><$'51/,%#1/%:5!-+=!"%,>+!!,8%

Contrary to public opinion, you don’t have to be a “salesman” to be successful in real estate, as

real estate is primarily a service industry, and serving your clients well will help you succeed.

Featured by:


Taking appealing pictures of a property

might not be an easy task for amateurs and

since you only got “one shot” you must make

the best of it!

A few simple tips can really help enhance the

representation of your property and even-

tually lead to a sale. Here are some of the

standard rules which you need to follow in

order to capture your home in its best light –

without any professional assistance.

Clean shotBefore capturing photos of your home,

make sure that only necessary furniture is

visible in the room. Avoid trash, toys, pets and even

people and cars. Too much of clutter will make the

room look quite small whereas no furniture would

not allow the house-hunter to picture him/her living

in the house.

Camera Matters;!"#M5'0( @#%9# !"#3!% %#.(2"+&#4'& 0@#/!",#

it comes to cameras. A smartphone camera

/%50.#&5=)"#:5 #( #/%50.,D #:"# !"#:"& 6#J#$%."+,#

PHOTOGRAPHY FOR REAL ESTATE

DSLR camera would be the best choice as it has quite

'#0% #%9#9"' 5+"&# !' #/%50.#3+%4(."# !"#8,"& #3!%-

tos. Of course, camera can be expensive to buy, but

you can always borrow from a friend.

Light is the key!Always try to capture the photo with the

use of natural light since the colour is

always better use external light rather than the

*'&!#%9# !"#)'$"+'6#N' 5+'0#0(-! #(&#$%& #30"'&', #

one hour after sunrise and one hour before sunset.

However, if you are taking the photos at night, turn

on all the lights in every room to make it more visible

as well as indication that the electricity works.

Get all the detailsWhether photographing land, a condomini-

um unit or a house, make sure you get all

the property details captured on camera. Move out

of the standard photography angle where the photo

is taken straight. Instead, begin by taking shots from

"4"+@#)%+,"+#%9# !"#+%%$#' #.(2"+", #0"4"0&#(,#%+."+#

%#"0($(,' "#',@#+"*") (%,&#%+#$(++%+#"2") &#',.#-(4"#

a better overview of the room.


B$+%C#1>#%&#,%?""1%+1;5"1 "/%?@%

diverse architectural designs in dif-

ferent eras. Every region of the is-

!#1/%1#-+'1%&#,%?""1%+1;5"1 "/%?@%

ancient Sri Lankan designs and the

creations of the Portuguese, Dutch

and the British.

In this article, we discuss landscaping

+/"#,%?#,"/%'1%/+D"$"1-% '51-$+",8%

Each nation has a unique design and

using a mixture of the most famous

and unique landscaping designs, will

lead to an eye-catching garden.

Bring Japan to Sri LankaB".#:+(.-"&#',.#-+'4"0#)',#:"# !"#8+& #& "3# %/'+.&#

incorporate a Japanese design into your garden, but

it is not an accurate representation of a traditional

Japanese design. Botanical elements play a major

role in Japanese landscaping, where a few serene

plants are trimmed and are well maintained. In addi-

tion, pebbles, rocks and gravel are used as stepping

stones around the trimmed plants along with water

under the small red bridge that leads to a tea house.

Incorporate an English cottageEnglish designs are not new to Sri Lanka. Nuwara Eli-

ya, also called Little England, is famous for its English

style homes. However, other areas have not experi-

enced such designs. Warm brick paths and red roses

are key in English gardens. A typical English garden

would contain a simple porch with a garden that sur-

rounds the house. Small pathways made of gravel,

&!"00#',.#:+()>&# %#/'0>#'$%,-#*%/"+&#',.#30', &#

are more important than well trimmed gardens or

perfect lawns. The unique element to an English

cottage style garden involves a fence or hedge and a

)%0%5+950#*%/"+#:".6

Middle-East in the islandPersian and Arabic designs are some of the most

unique in the world. They tend to represent a form

of paradise by using shade and water. Of course,

climate can be a worry for most other countries.

O%/"4"+1#&3")(8)#+"-(%,&#(,#E+(#F',>'#)',#:"#!% #

and humid for the largest period of the year. So, the

30', &# !' #-+%/#&3")(8)'00@#(,# !"#P(..0"L7'& #/%50.#

not have problems growing in Sri Lanka. Archways,

mosaics, walls blocking external view and parterre

& @0".#*%/"+#:".&#'+"# !"#(,-+".(", &# !' #."8,"#

an Arabic home. Contrary to British and Japanese

designs, Middle-Eastern gardens focus on providing

$'?($5$#&!'."1#/' "+#9')(0( ("&#',.#*%/"+#:".&#

fenced by a well-shaped garden wall.

LANDSCAPE & GARDEN DESIGN IDEAS


Earthbag HouseEarthbag buildings use poly-

3+%3@0","#:'-&#800".#/( !#

soil to surround the house

instead of walls. In layman’s

terms, it would appear

similar to a military barrack.

The house can be built quite quickly since it involves

stacking the bags, plastering with some earth

mixture and framing a timber roof. The house can

be built anywhere and can be expanded based on

@%5+#8,',)('0#&( 5' (%,6#E%1#(9#@%5#%/,#0',.1#:5 #8,.#

the cost of constructing a home slightly higher than

expected, you could invest in an earthbag house and

expand as time goes on as it is the cheapest widely

recognised option.

Shipping Container HouseShipping containers make

really good eco-friendly

homes. Building a home

using a shipping container

is quite similar to building

a home with concrete and steel. You will need to

)'0)50' "# !"#+"M5(+".#&3')"#',.#)+"' "#'#*%%+#30',#

before investing in these containers. This will be

&0(-! 0@#$%+"#.(=)50 #(,#)%$3'+(&%,# %# !"#"'+ !-

bags, where you will need to make a foundation,

placing the containers, creating reinforcement, con-

,") (,-#%,"#',% !"+1#(,&50' (,-1#8?(,-#'#+%%91#.%%+&#

',.#/(,.%/&#',.#% !"+#8,'0# %5)!"&6#O%/"4"+1# !(&#

(&#',#53)%$(,-# +",.#(,#E+(#F',>'#(,#/!()!#&%$"#8+& #

time home-buyers are investing in.

Straw Bale HouseWho does not like the com-

fort of a straw bale house?

A straw bale house primar-

ily uses solar panels as the

source of energy to run the

amenities of the house. Simi-

lar to the earthbags, this house is quite easy to build.

It involves digging the top layer of land and placing

a few polypropylene bags for sturdiness. Then, the

straw bales are used as wall frames instead of timber

since they are equally load bearing and it reduces

the use of wood. Finally, clay plaster is used to seal

the exterior and create a simple look.

DIY TIPS TO BUILD YOUROWNECO-FRIENDLY HOMEWhat does every homebuyer look for?

Something low cost with a great struc-

ture for the future. Sometimes, this can

?"%&#$/%-'%01/8%E&#-F,%(&@%C#:5/+%&#,%

looked into how you can build your own

eco-friendly house.

Contrary to popular belief, eco-friendly

homes are quite low cost and it isn’t too

hard to make it look great. Materials

such as earth, stone, wood and straw,

can be used to construct the house, and

these can be purchased for a lower price

in comparison to materials such as con-

crete and steel.


BREA

KIN

G T

HE

RULE

SO

F TR

AD

ITIO

NA

LD

ESIG

N I

N S

RI L

AN

KA

Interior design is not just about the inside look

of a building; it is a way of giving the place a

personality. Designers have the power to make

="'=!"%,""%-&+1<,%2$':%#%/+D"$"1-%="$,=" -+)"%

and introduce them to the concept of art and

aesthetics.

Designers are usually passionate and extremely

creative people, who are not afraid of trying

new techniques and experimenting with

/+D"$"1-%+/"#,8%G'$-51#-"!@%2'$%C#:5/+*%("%

had the chance to meet two local creative

designers: the founders of “PUSH”, witness

their work and chat about the lives of the two

young designers in Sri Lanka.

Graphic designer and fashion designer,

Hash Bandara and Umanga Samarasinghe,

respectively, agreed with pleasure to share

some of their insights with us.

Lamudi: So what is PUSH and how was it born?

Push: Well, after completing college and a few

internships, we had realised that working for a de-

signer company was not giving us enough room for

creativity and that our “outside of the box” ideas

were not fully appreciated. Unfortunately, here in

E+(#F',>'1#'0 !%5-!#."&(-,#8+$&#&'@# %#9%)5&#%,#

modern design, their work is still quite old school

and traditionalistic.

Q%+# !(&#+"'&%,1#/"#8-5+".# !' #/"#!'.#",%5-!#

skills and passion to create our own company:

hence, we founded Push in 2012. We have our

store where we do all kinds of things related to

design: murals, photography, videography, logo

designs, layout as well as skateboards, streetwear

and design.

Interview with:

Umanga SamarasingheFounder of PUSH

Interview with:

Hash BandaraFounder of PUSH


L: Which interiors do you work on?

P: We do both outdoor and indoor design. As you can

see, we did the interiors of our store, but we also have

done some work around the city, among which you

can see the murals we did at the Cinnamon Red and

our interior work at Skruptious dessert café.

L: How would you describe the current trend in

design in Colombo?

P:#<%0%$:%#(&#!(-!0@#(,*5",)".#:@#R"%2+"@#G'/'S#!"#

is the one who introduced interior design to Sri Lanka

',.#@%5#)',#&""#!(&#(,*5",)"#'0$%& #"4"+@/!"+"S#

boutique hotels, cafés, houses… everywhere! So, I

would say that his style is the dominant here in Co-

lombo and this is why when people come to us, they

'+"#&5+3+(&".#%9#!%/#.(2"+", #%5+#& @0"#(&#)%$3'+".#

to what you can see here in Colombo.

L: How would you describe your style? Is it becom-

ing popular in Colombo?

P:#C#-5"&&#( D&#3+" @#5,(M5"A#/"#$(?#.(2"+", #& @0"&#

and create very original designs which Colombo

hasn’t seen before. We don’t have a name for it, we

just do what we do and more importantly we love

what we do. Our work can be very diverse and of

course is based on the requirements of our cus-

tomers: we can create a more sober interior with a

“corporate” style, or a traditional Sri Lankan one with

a modern twist. Our customers contact us because

!"@#>,%/# !' #/"#'+"#.(2"+", 1#',.# !' #/"#3+%4(."#

something unique.

L: What inspires your work?

P: Pretty much everything! It doesn’t have to be any-

!(,-#&3")(8)1#&%$" ($"&#C#T5& #/'0>#.%/,# !"#& +"" #

and see a tree and it brings some new ideas for the

design I am working on, whereas, Umanga is more

inspired by nature and fantasy literature. The wall

you see there (PUSH’s main wall) was designed by us

without a sketch. We just literally started drawing on

a white wall and this is what came out of our minds

that day. So, I guess that anything and everything is

what inspires us.

L: What is the most frustrating aspect of your

job?

P: Well, although people started to appreciate our

art, sometimes they still seem to underestimate the

amount of time that goes in the creative process of a

project and the time we spent making a piece of art.

People seem to fail to understand that we are not

downloading designs from the internet, but instead

we come up with our own! Because of this they often

tend to misjudge the costs, which is quite frustrating.

L: What would you say is your strongest skill?

P: Our style is pretty unique: we combine traditional

Sri Lankan and Asian art with modern art which is

something that nobody here has seen before. It is

our style that got us the investors for our company,

through the victory of a designer competition here in

Sri Lanka. So, yes our style is our strongest point.


Location

Located in Bagatalle Road 1, the very hub of

)%$$"+)('0#') (4( @#(,#<%0%$:%#U1#( #%2"+&#

an expansive view of the Indian Ocean.

Layout

With a vast spread of over 140,000 square

9"" 1# !"#+"&(.", ('0#*%%+&#!%5&"#VV#'3'+ -

ments and 4 super luxurious duplex penthouses. All

apartments will enjoy panoramic vistas of the Indian

Ocean and a bird’s eye view over the elite business

districts of Colombo.

Features

;!"#9%5+ !#*%%+#9"' 5+"&#'#3%%0#',.#.")>#

facing the sea; enclosing a restaurant,

lounge and bar. The in-house spa includes a ‘His and

Her Sauna’ and an ice cold plunge pool along with a

-@$#8 ".#%5 #/( !#& ' "#%9# !"#'+ #"M5(3$", 6#J..(-

tionally, a function/meeting room has been installed

for entertainment purposes or business gatherings.

Contact

Book your view on 0765319877 or email at

[email protected].

Platinum1 is the most recent real estate ven-

ture by Platinum Realty Investments, a BOI

registered Sri Lankan company with more

than US$ 40 million of capital investment

from Sri Lankan investors and Foreign Direct

Investments from Paharpur Mauritius Ltd.

H!#-+15:I%(+!!%?"%-&"%0$,-%0)"%,-#$%:#1#<"/%

apartment complex in Sri Lanka. The Kings-

bury, one of the most prestigious hotels of

Colombo, will be the service provider and

the management company for the apart-

ment complex.

Introducing a new concept in unsurpassed

!5.5$@%!+)+1<*%H!#-+15:I%(+!!%'D"$%0)"%,-#$%

standards at every level, presenting own-

ers and residents the very best of managed

facilities throughout the complex.

E&"% ':=!".%'D"$,%JJ%'5-,-#1/+1<%#=#$--

ments built with a marvelous combination

of marble, granite and wood which create

the perfect balance between comfort and

luxury living.

Why invest in Platinum1?

Investing in Colombo has become a sound judgment

for many in the recent times. The property values

have gone up and the city on its own has attracted

several luxury properties. No matter if your intention

is to purchase an apartment as a primary or sec-

ondary home or if you perceive it as an investment

source, Platinum1 would suit all your needs.

Platinum1 is much more than just real estate; it

guarantees you a hassle free 5% return per annum in

W%00'+# "+$&#%,#84"#& '+#)%,.%$(,(5$&#/!()!#/(00#:"#

entirely managed by The Kingsbury.

You will not only be entitled for a three week accom-

modation every

year, but you

will quadruple

your invest-

ment in just ten

years.

With Platinum1 you

won’t have to worry

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lamudi - property now / issue #2

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