Asian Hotels & Properties Ltd.’s upmarket 30-storey condominium, has sold 25 of the 200 odd units during three weeks of pre sales.

Asian Hotels & Properties Ltd.'s upmarket 30-storey condominium complex, the Monarch, has sold 25 of the 200 odd units during three weeks of pre sales. Asian Hotels & Properties Ltd.'s upmarket 30-storey condominium complex, the Monarch, has sold 25 of the 200 odd units during three weeks of pre sales. Prices start from US$ 150,000 for a single bedroom apartment and goes up to US$ 1 mn for a 5,000 square foot two level penthouse suite.

Payment Plan
• A 10 percent down payment at the time of reservation
• A 15 percent first installment due in one year
• A 25 percent second installment due by March 2006
• A 50 percent final payment when the title deed is executed and the property is handed over.

There are four such penthouse suites, and all have been snapped up by high networth Sri Lankans during the first three weeks of pre sales, says stockbrokers' LOLC Securities.

Pre-sales started in May, and Asian Hotels hopes to sell off the balance apartments by December, before construction starts early next year.

Designed by Singapore's Palmer & Turner, the US$ 3 bn condominium will rise above the exis