Shangri-La launches 500mn US dollar luxury apartments and office complex project in Colombo

May 22, 2015 (LBO) - Hong Kong based Shangri La Hotels and Resorts, a property developer and hotel group launches 500 million US dollars of exclusive residences, office and retail project in Galle Face, Colombo targeting at foreign investors, expatriates and an expanding class of influential Sri Lankans. The residences component will have 406 apartments consists of two, three and four bedroom units. Additionally, it will contain 16 penthouses, offering 8 Duplex and 8 Simplex units.
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The company plans to complete the project in the end of year 2018. “We are pleased to offer this incredible opportunity to be part of an iconic development project that will redefine cosmopolitan living in Colombo,” said Neluka de Alwis, Head of Sales and Marketing (Residential) of Shangri-La Colombo. “We are very excited to launch this project in a city as vibrant as Colombo, especially given its impressive tourism growth potential.” The two towering 50-floor high residential structure will be a personal sanctuary with views of Colombo’s scenic Galle Face Green, Indian Ocean and Beira Lake. The elite address also comes with an exclusive residents club, combining with a supermarket and a cinema, a shopping and dining. “The Residences at One Galle Face, is tailor-made for the discerning investor,” The Company said in a statement. “The project is also strengthened by a bullish property market that has maintained consistent growth for years.” The company says an international grade “A” office tower is another dimension of the One Galle Face real estate development aimed at providing corporate clients the best Colombo has to offer in one perfect package of efficiency and elegance. Shangri-La opened its first deluxe hotel in 1971 in Singapore.
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Today, Hong Kong based Shangri-La Hotels and Resorts is one of Asia Pacific’s top luxury hotel groups. Regarded as one of the world’s finest hotel ownership and management companies with 85 hotels and resorts throughout Asia Pacific, North America, the Middle East, and Europe they are grouped under brands Shangri-La Resorts, Shangri-La Hotels, Traders Hotels, Kerry Hotels and Hotel Jen.