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Keppel Land and CT Properties collaborate on Colombo venture

Property Report
Keppel Land and CT Properties collaborate on Colombo venture - Keppel Land - CT Properties - developer - India

A high-end condominium residence will be built on a prime site in the capital of Sri Lanka in a joint venture between Keppel Land Limited and CT Properties Ltd in a 60:40 equity, respectively.

On a 1.25-acre site at the central business district, Colombo, 260 luxury residences will be erected at a project capital cost of an estimated S$70 million (US$55.2 million).

Sited at the Kotahena area, the site is well-served by numerous amenities including schools, retail outlets, banks, medical facilities, as well as sports and entertainment centres. Keppel Land Limited also confirmed that the majority of homes are expected to enjoy panoramic views of the Indian Ocean.

Mr Kevin Wong, Group CEO of Keppel Land said: “Our first foray into Sri Lanka is strategic and timely given the country’s positive growth as well as with growing affluence amongst its population. The improved political and economic conditions also bode well for the country as it looks to attract more foreign direct investments.

“Sri Lanka is experiencing rapid growth and the sound fundamentals are expected to drive demands from homes. This is where Keppel Land, with our trusted brand and reputation as a premier developer, can meet the demand for well-located, quality homes.


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