Prime Grand, the flagship luxury project of Prime Group, the leading real estate developer of Sri Lanka, has resumed its operations in accordance with #RestartSL protocols announced by the Government of Sri Lanka.
Prime Group which stands strong in their contribution towards the economic regeneration in the country, celebrated a key milestone of ‘Prime Grand’, the award-winning project crowned the Best Luxury Condo development in Sri Lanka in 2019 by Asia Property Guru Awards. Just a few days prior to the cur-few, the group held the topping off ceremony on the 11th March which marked the completion of the super structure celebrating the final cement pour. The ceremony was graced by key stakeholders of the project including the Chairman and Co-Chairperson of Prime Group Brahmanage Premalal and Sandamini Perera, Chairman of MAGA Engineering Capt. M.G. Kularatne, Chairman of DG5 Suranjith De Silva, Managing Director of CSEC Shiromal Fernando, Managing Director of VForm Consultants Lalith Rathnayake and other key individuals. Prime Grand boasting 37 stories rising 160 meters into the sky is the first and only high rise in the prestigious Colombo 07, host to Sri Lanka’s longest elevated infinity pool.
“Celebrating the topping off of Colombo 07’s tallest skyscraper signaled that we are at the forefront of driving the Sri Lankan real estate industry towards new heights that leverage on high-end luxury,” said Brahmanage Premalal, Chairman of the group.
“Prime Grand will be in a class of its own bearing the country’s most prestigious address, with the finest finishes and luxury amenities. As the first and only high-rise in Colombo 07, our residencies are specially designed for utmost privacy and will have uninterrupted views over the city. Therefore I am positive that this project would be one of those key construction projects that would flourish with the influx of post-COVID-19 investments, in the new Sri Lanka we are building. The interest for this development had not decreased despite the COVID-19 pandemic and we have continued to receive positive inquiries about the project throughout”.
Prime group along with the construction giant MAGA Engineering has ensured all preventative health measures are followed through and the safety of all the stakeholders on-site and off-site is well maintained.
Prime Grand’s resumed construction is evidence of the Group’s ability to comply with the needs of the economy at its moments of need. Now more than ever there is a need for local companies to come forward to ascertain the local economic boom, the real estate industry has the potential of becoming a key denominator in foreign currency influx as well as strengthening local trade.
“We are also proud to be the first and only real estate company to receive an A- (Stable) credit rating, for the first time in the history of Sri Lanka’s real estate sector. The rating provides transparency to-wards our financial stability, assuring our clients a safe haven for their valued investments with us” added Brahmanage Premalal.
Prime Group, which built its footprint in the real estate industry as a fully Sri Lankan brand, celebrates its 25th anniversary this year as the first and only developer to obtain an exclusive credit rating A- (Stable) from ICRA Lanka, a group company of Moody’s Investors service. The rating solidifies Prime’s ability to stand strong and firm in their financial strength and credibility against the upheavals of the COVID-19 crisis and cater to the local real estate market ever so strongly while securing investments of their patrons.
The Group has initiated dialogues which would bring back investments of Sri Lankan expatriates into the country, through investing into a valuable property such as Prime Grand, and even the bank and financial sector have already offered favorable interest rates, which inadvertently has the potential of attracting a high demand for interested buyers to invest in a property that would continue to have upscale property value, in the foreseeable future.
Prime Group itself is renowned for its market presence for twenty-five years catering to all segments in real estate. Throughout its journey, the group has developed over 4000 land & housing projects and completed 36 projects out of its 43 condominium portfolio. The company has continuously proven its ability to sustain despite formidable economic and social chaos in the past. At present, the group’s real estate projects span across 17 districts in Sri Lanka and have won numerous accolades for its expertise in the real estate sector as one of ‘Asia’s Top 100 brands’ & winning the Best Developer in Sri Lanka title for the past 2 years by Asia Property Guru Awards. As such, the Group has the experience, expertise, and financial stability that can stand the strains and challenges inflicted by the pandemic.
(Media Release)