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Nawala emerging as high end apartment hub: RIU

Jan 30, 2017 (LBO) - Nawala, between Sri Lanka's commercial capital Colombo and administrative capital Kotte, is seen as the next high-end residential apartment hub, as new infrastructure in and around the area will address issues related to traffic congestion, a research institute said.
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"Many new real estate developers have realised the potential of the area," the Research Intelligence Unit (RIU), a firm specialising in real-estate, said in their quarterly report.
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"Given Nawala’s proximity to the capital more and more retail and commercial development will enter the area, while the green and residential environment will ensure continued popularity among the upper-mid and upper end of the socio-economic groups." Nawala is in close proximity to the Central Business District (CBD) of the commercial capital of Sri Lanka. The distance and time saved on the road will have a positive impact on the lives of professionals instead of travelling from other suburbs of Colombo, the report added.
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"Nawala is set to enjoy sound growth over the next decade as new infrastructure in and around the area will address issues related to traffic congestion." The full report follows: Nawala RIU Market update
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