By Mario Andree
Overseas Realty, Chairman, S. P. Tao (94), said Sri Lanka is on the path of tremendous development after a three-decade civil conflict which crippled the country.
He said, "Sri Lanka would get better and better each year as the country is focussing on high economic development and mega projects such as Havelock City are taking place."
The Havelock City development project on a 17 acre plot of prime land within the Colombo city is developing under a city-within-a-city concept with a total investment of US$ 350 million.
The initial phase comprising 226 apartments in 2 towers with 22 levels was completed last year and 70 percent of the apartments have been sold to date.
The total project under the four phases of development is expected to be completed by end 2013 which would comprise six residential towers a shopping mall, two office towers and a club house creating a city within a city.
Tao said "The peace the country is witnessing now and the strong and stable leadership provided by the government for fast tracking development is a signal for mega scale realty developers to realize the potential of property development in the country."
"In three years, the country will see a change in Colombo’s skyline," said Tao.
Senior Minister, International Economic Co-operation, Dr Sarath Amunugama said with Overseas Realty deciding to invest in Sri Lanka in 1980 to build the World Trade center it changed the benchmark of quality and standards never before witnessed in property development in Sri Lanka.
He thanked the company for envisaging on a mega project to help the country develop starting in 2003 where many investors had lost faith over Sri Lanka with the civil conflict in place.
He said Havelock city is a hallmark for mixed development projects which Sri Lanka is in need at the moment to develop its economy.
He said the country is in need of visionary investors who can create a reputed name for Sri Lanka.
source - www.island.lk
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