Ambitious $ 460 m 4-towers Krrish Square at Fort to start selling units from today

By Vinayak on Tuesday, September 10, 2013 with 0 comments

What is tipped to be the biggest single largest sole foreign investor project the $ 460 million Krrish Square at Transworks House in Fort will start selling luxury condominium units from today, the Indian promoters disclosed last night.

Launching to media and corporates separately, the Krrish Square on the four-acre land area is a mixed development project comprising four towers, three of which will have luxurious residential units and the other a seven-star hotel apart from a boutique hotel in the preserved confines of the Transworks House, declared as a heritage building in the city.
Krrish Group, which has interests in distilleries, breweries and real estate development in India, promised its first overseas venture will be an “engineering marvel” in Colombo whilst the mixed development will also be one of Asia’s most iconic. It will be completed in 2016.
The Urban Development Authority (wUDA) which has got an advance of 10% for the Rs. 5 billion worth lease for 99 years, described the project will be a key component in making Sri Lanka the ‘Wonder of Asia’ though the mega venture was an outcome of an unsolicited proposal.
“The project is one of the most significant milestones in urban development in Sri Lanka,” UDA Chairman Nimal Perera declared.
He said UDA had to seek unsolicited proposals because the land in the area had been under utilised over the years as there were no investor interest due to many issues as it was encumbered with several buildings including the existence of an electrical substation occupying 40 perches and the heritage building of Transworks House.

http://www.ft.lk/2012/09/27/ambitious-460-m-4-towers-krrish-square-at-fort-to-start-selling-units-from-today/

Category: Real Estate

POST COMMENT

0 comments:

Post a Comment