Armed with the professional expertise and reputation gained from the construction of more than 1,000 houses in Sri Lanka, Kelsey Developments PLC has ventured into the real estate business, and has announced that its new property development company is looking for land in good residential areas.The new company, Kelsey Property Developers (Private) Ltd., will focus on seeking out virgin land in potential residential suburbs for development with infrastructure and amenities, blocking out and sale, while Kelsey Homes continues to develop housing schemes and build houses for clients on their land, said a spokesman for Kelsey Developments PLC, the holding company of both entities.
Already, the first project of Kelsey Developers branded 'Makamba Gardens' and located 150 meters from the High Level Road near the Makumbura Junction at Kottawa, has sold ten of the 17 blocks developed, since its launch in mid June.
"We believe that there is renewed interest in real estate and that this is the opportune time to leverage our 25 years of experience in the house construction business to offer buyers fully-developed, construction-ready land from a company with a pristine reputation for quality and integrity," Kelsey Developers Director Ms. Manjula Mathews stated.
She said the company would target people in the household income category of Rs 75,000 to Rs 200,000 a month, offering a choice of land in the price range of Rs 300,000 to Rs 600,000 per perch, initially in the outskirts of Colombo, and later in the suburbs of provincial cities.
The 140 perch development at Kottawa, with internal roads, three phase electricity and pipe borne water, storm water drainage, easy access to banks, schools and markets, is an example of the product Kelsey Developers would offer buyers, Ms. Mathews said, disclosing that the company ensures clear titles and assists in procuring financing through banks for its customers.
The 17 blocks of land at Makamba Gardens, ranging from 7 perches to 9 perches are priced between Rs 390,000 and Rs 460,000 a perch. Buyers who request assistance with construction would be referred to Kelsey Homes with no obligations, she said.
The new company plans to develop and launch new projects regularly, and is prospecting for land with a high development potential, she added.
Established in 1983 as a subsidiary of John Keells Holdings, Kelsey Developments has very successfully operated under the KELSEY HOMES brand, which today stands synonymous with reliable home building.
source - www.dailymirror.lk
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