| Financial Times (Issued with Daily Mirror) |
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| Wednesday May 19, 2004 | ||
| S.P. Tao kicks off second mega project after WTC | ||
| $ 150 m residential cum commercial complex ‘Havelock City’ at former Wellawatte mill site to be completed in 2006 | ||
| By Yohan Perera Havelock City, the newest $ 150 million residential-cum commercial investment got off the ground to an auspicious start yesterday at a ground-breaking ceremony held at the site at the former Wellawatte Spinning and Weaving Mills premises at Havelock Road, Colombo 6. The project is expected to play a major role in making Sri Lanka the commercial hub of South Asia and is expected to be completed in 2006. The project developer is Mireka Capital Land Ltd., a new joint venture between Shing Kwan Group of Singapore and Bank of Ceylon. Shing Kwan Group which has become famous in Sri Lanka for the development of the state of art World Trade Centre through its local company Overseas Realty (Ceylon) Ltd. Addressing the ground breaking ceremony, Shing Kwan Group Ltd. Chairman S. P. Tao said that this project would be a benchmark for the entire property development industry in Sri Lanka. Therefore he said that this would be different to other projects which he has invested in. “Both my mind and heart will be with this project,” he added. Chief Guest Colombo Mayor Prasanna Gunawardene said that this land mark project shows the confidence of foreign investors in Sri Lanka and recognition of the country’s economy. “Colombo is on its way to become a commercial hub in South Asia and it will stand alongside with the other major cities in the region” he said. He was confident that this project would be a success and will lead to other similar projects. Mireka Ltd. Development Manager Martin Pereira said that the project comprises two components – the commercial components and service components. The commercial component comprises 36,000 sq. metre shopping mall which will include super market, international food court and health center, while Service component comprises 300 room hotel and 1,080 condominium housing units which will provide exceptional value for money according to him. Ample parking for residents will be housed underground giving shelter from inclement weather. This will be capable of accommodating over 780 vehicles. “The close proximity to modern day commercial amenities and facilities, schools, hospitals, banks, places of religious worship and four road access are definitely advantageous’ he explained. In this context he pointed out that over 13 schools will be within 20 minutes drive and the site will be approachable from Havelock Road, Skelton Road, Peterson Lane and Mayura Place. Residential apartments will be constructed in 8 blocks out of which 4 will be of 20 storeys while the remaining four will comprise 27 storeys. Apartment sizes will comprise 1, 2, 3 and 4 bed room unit types catering to a variety of needs and affordability. Its design focuses on accessibility, circulation and layout maximizing natural lighting and cross ventilation. Company is also looking for partners to run the hotel, supermarket and the shops while the apartments will be sold out. Main objective of the project is to create a living environment that gives Colombo something unique as the company did with the WTC. Plan therefore is to establish Havelock City as the prime address in town and spearhead a paradigm shift in integrated property development, which will bring with it new thinking in housing, living, lifestyles and commerce. |
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