සංවර්ධන News

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‘Luna Tower – Four Four Seven’, new landmark luxury apartment project launched at Union Place

Asia Capital PLC in collaboration with Japanese foreign investor and partner, Belluna Co. Ltd, has launched an exclusive apartment development project in the upscale Union Place location at a project cost of over USD 50 million (LKR 7.3 Bn). The ground-breaking ceremony of the real estate development titled ‘Luna Tower – Four Four Seven’ was held on 12th October 2016 at the development site, in the presence of eminent invitees comprising of the senior management of Asia Capital and Belluna; government officials involved in the project including CMC and UDA representatives; and the Japanese Ambassador to Sri Lanka – His Excellency Mr. Kenichi Suganuma. Hon Dr. Sarath Amunugama – Minister of Special Assignments also graced the occasion. Philip Weeraratne Associates (PWA) are the Principal Architects for the project. Two global powerhouses have joined hands with PWA on this project: Arup of Hong Kong, bring their depth of expertise by way of a complete structural review of the apartment complex; Ong&Ong of Singapore, bring in unparalleled technical expertise in design excellence. Onsite piling for the project has already commenced by Nawaloka Piling Pvt. Ltd and ‘Luna Tower – Four Four Seven’, is scheduled for completion by October 2019.

‘Luna Tower – Four Four Seven’ is a 200-apartment building located centrally at Union Place, offering speedy and convenient access to the commercial and entertainment areas of Colombo. Its unparalleled location offers sweeping vistas of the Beira Lake on one side and the Viharamahadevi Park on the other.

The project is conceptualized as a blend of indoor and outdoor living spaces for a soothing and natural experience, making the best of natural light and ventilation. The apartments are seamless in design and offer compact modern living ideas for greater convenience. The apartment building will feature a large lobby with reflecting ponds and greenery, a rooftop infinity swimming pool and club house, including a landscaped garden, gymnasium, function room and a pavilion that opens out on one side – all of which offer common spaces on multiple levels in the apartment building.

Mr. Stefan Abeyesinhe, Director/ Group CEO from Asia Capital commented, “The launch of ‘Luna Tower – Four Four Seven’ marks yet another milestone for Asia Capital in its history of achievements both in investment banking and property development. Venturing into real estate in the apartment complex segment, we are delighted to partner with Belluna of Japan, who hold decades of prosperous experience in real estate and now bring their investment strength into Sri Lanka. This joint project cements the strong bond that both companies have in creating a new paradigm in local and foreign joint venture projects in Sri Lanka. ‘Luna Tower – Four Four Seven’ offers inspired living for discerning investors and residents who understand the benefits of its superb location and the reputed project partners who are capable of delivering a truly world-class project. Prospective buyers can select from 2/3/4 bedrooms within a price range of LKR 35 to 140 million, which offers a wide price spectrum to choose from.”

Mr. Hiroshi Yasuno, Managing Director from Belluna added, “With operations in several continents, Belluna is delighted to invest in a country such as Sri Lanka, which is one of the leading nations in the region in terms of investment potential. Colombo’s skyline is changing and we expect ‘Luna Tower – Four Four Seven’ to be an integral landmark once complete. The initial outlay for the project for land acquisition and construction is over USD 50 million. Belluna is privileged to collaborate with an established and reputed partner such as Asia Capital. Our partnership with Asia Capital at present encompasses five different projects both in Sri Lanka and the Maldive Islands. As a foreign investor, we hold a long-term view of Sri Lanka’s investment potential and foresee many more such high value projects in the years ahead.”

The joint projects between Asia Capital and Belluna consist of the ‘Luna Tower – Four Four Seven’ apartment development at Union Place; a 48 villa ultra-luxurious resort in Galle for which the foundation stone will be laid on 13th October 2016; a 300-room city hotel on Marine Drive in Colombo 03 for which the land is already acquired; and construction of the first resort beyond the shores of Sri Lanka in the Maldive Islands. A further multi-development project in Colombo is in the pipeline, with land being sourced presently. Belluna Co Ltd’s Joint Venture with Asia Capital PLC clearly spells out the company’s commitment to Sri Lanka.

Photo Caption: Ground breaking of Luna Tower – Four Four Seven
From (L-R) : Mr. Eraj Rajapakse (Senior Manager Projects- Asia Capital PLC), Mr. Paul Ratnayeke (Chairman – Asia Capital PLC), Mr. Philip Weeraratne (Principal Architect – Philip Weeraratne Associate), Mr. Sandun Hettige (Senior Manager, Asia Capital PLC), Mr. Toshiaki Tanaka( Director – Asia Capital PLC), Mr. Koichi Yokota (Senior Manager – Belluna Co. Ltd, Japan), Mr. Hiroshi Yasuno (Managing Director -Belluna Co. Ltd, Japan), His Excellency Mr. Kenichi Suganuma, the Japanese Ambassador to Sri Lanka, Mr. Kiyonori Nakashima(Senior Advisor – Belluna Co. Ltd, Japan), Mr. Stefan Abeyesinhe (Director/ Group CEO – Asia Capital PLC), Mr. Reyhan Morris (Member of Senior Management – Asia Capital PLC) and Mr. Upali Dharmadasa (Chairman – Nawaloka Piling (Pvt) Ltd.)

- http://bizenglish.adaderana.lk/luna...ry-apartment-project-launched-at-union-place/

Asia Capital partners Belluna for Rs 7.3 bn ‘Luna Tower-Four Four Seven’

Asia Capital PLC in collaboration with Japanese foreign investor and partner, Belluna Co. Ltd, launched an exclusive apartment development project at a project cost of Rs 7.3bn.

The ground-breaking ceremony of the real estate development titled ‘Luna Tower – Four Four Seven’ was held at the development site in Union Place yesterday.

Two global powerhouses, Arup of Hong Kong and Ong&Ong of Singapore have joined hands in this project to bring expertise by way of a complete structural review of the apartment complex , bring in technical expertise in design excellence.



Onsite piling for the project has already commenced by Nawaloka Piling and ‘Luna Tower Four Four Seven’, is scheduled for completion by October 2019.

‘Luna Tower – Four Four Seven’ is a 200 apartment building at Union Place, offering speedy and convenient access to the commercial and entertainment areas of Colombo. Its location offers vistas of the Beira Lake on one side and the Viharamahadevi Park on the other. Asia Capital Director and Group CEO Stefan Abeyesinhe said they are delighted to partner with Belluna of Japan, who hold decades of experience in real estate and now bring their investment strength into Sri Lanka.

“This joint project cements the strong bond that both companies have in creating a new paradigm in local and foreign joint venture projects in Sri Lanka,”he said. Belluna Managing Director Hiroshi Yasuno said their partnership with Asia Capital encompasses five different projects both in Sri Lanka and the Maldive Islands.

“As a foreign investor, we hold a long-term view of Sri Lanka’s investment potential and foresee many more such high value projects in the years ahead,” he said.

Asia Capital Senior Manager, Eraj S.Rajapakse said this is the first time that Belluna has invested in real estate business in Sri Lanka. This project will have 190 apartments in 43 floors. “We will be starting the piling from today and in three months time the structure will come up. We are hoping to complete this project in 30 months.The apartments will be on sale in about one month’s time,” he said.

- http://dailynews.lk/2016/10/13/business/95785

 

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Sri Lanka wants to move up 40 steps in ease of doing business

Oct 13, 2016 (LBO) – Sri Lanka is expected to reach 60th or a higher place in the world ease of doing business index in two years, a minister said.

State Minister of International Trade Sujeewa Senasinghe told the World Export Development Forum that the government wants to create a conducive environment for local businesses.

“We want to move up around 40 places in the ease of doing business index,” Senasinghe said. Sri Lanka currently ranks at the 107th place in the index out of 189 economies.

A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

“We also expect to grab World Economic Forum to Sri Lanka next year or as soon as possible.”

The government is also to complete the ongoing integration project of state agencies such as Sri Lanka Customs, Inland Revenue Department and Labor Department by the end of this year.

- http://www.lankabusinessonline.com/sri-lanka-wants-to-move-up-40-steps-in-ease-of-doing-business/

 

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Central Expressway cost increases by Rs. 12 billion


By Namini Wijedasa

The Government is in talks with China’s Exim Bank to fund the first section of the Central Expressway which the contractor, Metallurgical Construction Company (MCC) of China, has now priced at Rs. 158 billion–or Rs 12 billion more than originally stated.
The increase in cost is both due to the inclusion of a 12km viaduct in the road design and a failure of the Government to negotiate sufficient savings from another project carried out by MCC, as earlier planned.

The relevant section runs 37.1 kilometres from Kadawatha to Mirigama. At the current price, this translates to nearly Rs. 4.3 billion per kilometre. The contract was given to MCC without tender. The loan agreement with Exim is yet to be signed. The contractor had initially fixed the cost of a 32.5 km stretch from Kossinna to Mirigama at Rs. 145.8 billion. The remaining five kilometres from Kadawatha to Kossinna were to be completed from savings negotiated by an official committee in the third phase of the Outer Circular Highway (OCH) being built by MCC.

The Government claimed last year that it had shaved more than 30 percent–around Rs. 24 billion–off the cost of the OCH by reducing the scope of the project. This money would be diverted to other work, it vowed.

But in December 2015, the Cabinet decided to obtain technological and financial proposals from MCC to construct the section from Kadawatha to Kossinna. This was to have been built with the OCH savings. As a result, the total cost of the project rose to Rs. 158 billion or US$ 1.1 billion.
The amount that was saved from OCH was not conclusively revealed. “It kept changing,” confirmed Prof. Saman Bandara, who was Road Development Authority (RDA) Chairman at the time. “There were a number of different alternatives. The basic shift that was made in the design was to change the highway from six lanes to four lanes.”

In reality, however, it was only the OCH’s substructure (the underlying supporting structure comprising the foundation, columns and abutments) that was changed from six lanes to four, Prof Bandara said. “The decision was that the substructure will also be designed for four lanes,” he explained. “That was the saving. There was no other saving from the top, which was already designed for four lanes. The savings anticipated reduced a lot. Cost went up and savings went down.”

The money that was left over from OCH can now only fund one interchange and 500 meters, or 0.5 km, of road on the Central Expressway; not the five kilometers earlier announced. But interchanges, Prof Bandara defended, are expensive.

The selection of MCC for the Kadawatha -Mirigama leg is also problematic. It happened for two reasons, Prof Bandara said: “It was a Government decision. MCC had already signed a contract with the previous Government for the Northern Expressway. Secondly, it was logical that it would do the first section to take advantage of the savings from OCH.”

Senior engineers, speaking on grounds of anonymity, contest this rationale. “The OCH savings were a pittance,” said one, who has closely studied the projects. “Do you award a US$ 1.1 billion contract to a company on that? Why not give MCC just the interchange and 500m of road and go for tenders for the rest? The Government used half a kilometer of road and an interchange to give MCC the remaining 36.5kms as well!”
Highways Minister Lakhsman Kiriella said the contract was awarded to MCC by Cabinet decision. He also pointed out that he was not the subject minister at the time. “The first section was given to the Chinese,” he said. “I was not the minister then. The second section was given to local contractors.”

Engineers also question the costs. The Central Expressway was earlier called the Northern Expressway. On that road, a 54km stretch from Enderamulla to Ambepussa was priced at Rs. 2.7 billion a kilometer. The total cost of the project was to have been US$ 1 billion.
After the change in administration, the RDA shifted the starting point of the expressway from Enderamulla to Kadawatha, a difference of five kilometers. It was renamed the Central Expressway. The first section fell to 37kms from Kadawatha to Mirigama. But the cost per kilometer ballooned to Rs. 4.3 billion a kilometer!

Minister Kiriella said all rates were negotiated before the contract was given out. “The Government was keen to start it (expressway) as fast as possible,” he explained, adding that the road will benefit five districts.

This section would have been significantly cheaper if not for a 12 kilometer viaduct which was added to the design under the former regime. Authoritative sources said this was arbitrarily done; and that the shifting of the original trace, which had required only a four kilometer viaduct, had taken the road into a flood plain.

“It was a purely political decision,” one official maintained. “The RDA had a good trace, produced by a reputed consultant. It was not an engineering decision to change that.” “Either it is a design blunder or it was intentionally put there to increase the cost,” said the engineer earlier quoted. “The embankment has also been made unnecessarily larger for the same purpose.” Still, even with this viaduct, the RDA Engineer’s estimate for the first section of the Central Expressway had been Rs 129 billion. The price of the contractor, MCC, is Rs 29 billion higher than this.

But the Government–which had once railed against the previous regime’s penchant for exorbitant, unsolicited proposals–is steaming ahead. A team of officials from Exim was in Sri Lanka this week to verify documents related to the Central Expressway, including a new feasibility study reflecting a change in trace and the inclusion of the longer viaduct.

The bank had insisted on a fresh feasibility study being conducted, authoritative sources said, because there wasn’t one in existence for the new Kadawatha-Mirigama trace. The RDA has formulated one in-house and handed it over to Exim for examination. The foundation stone for the first section was laid several months ago. The foundation stone for the next section was also laid recently. Both were done before basic studies and land acquisitions were completed. And engineers are now pushing hard for a critical evaluation of the costs before any more public funds are put to waste.

Minister Kiriella maintained that acquisitions are proceeding smoothly. “We have published Section 38 notices,” he said, adding that this allows entry into the respective lands. “Except for a few, around five per cent, the vast majority of people have been very generous and given up their lands willingly.”

Where it started and where it is now

The Central Expressway was earlier called the Northern Expressway. It had a patchy start. In 2012, the Government awarded to the Australian company SMEC Engineering the feasibility study for this road. The consultants were chosen without tender, on the strength of a Cabinet paper; the contract was priced at a massive Rs 1 billion. Another Rs 400 million claim from the company is awaiting approval.
Design work on the Northern Expressway began even before this feasibility study was completed. The Government soon announced that the first 54 km from Enderamulla to Ambepussa would be built at US$1 billion with Chinese funds. This worked out to an estimated US$19 million–or Rs 2.7 billion at prevailing rates–per kilometer.

In 2013, discussions were held with China Merchant Holdings which built the Colombo South Harbour. It now manages the jetty in collaboration with the Sri Lanka Ports Authority. But these negotiations failed. The Government then divided the road into four and chose to award one part to MCC which was, by then, constructing the OCH at significant cost. It had also built the Colombo-Katunayake Expressway.
The other three sections were to be awarded to local contractors. In keeping with the usual practice of the former regime, there was no question of open or competitive bidding.

After the presidential election, the Road Development Authority (RDA) shifted the starting point of the road from Enderamulla to Kadawatha, a distance of five kilometers. It was renamed the Central Expressway. And the Government soon awarded the first section, without tender, to the Metallurgical Construction Company of China.

- http://www.sundaytimes.lk/161016/news/central-expressway-cost-increases-by-rs-12-billion-212814.html

 

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Urban regeneration project Henamulla Phase II by Access Engineering in full swing

The design and construction work of the urban regeneration project at Henamulla – Phase II undertaken by Access Engineering PLC is making a significant progress. This project is developed as a permanent solution for the relocation of underserved and derelict community settlements scattered across Colombo.

Access Engineering PLC, the leading engineering enterprise in Sri Lanka was entrusted with the design and construction work of the said project which is a part of a drive that is spearheaded by the Ministry of Megapolis and Western Region Development with the forward vision to upgrade the living standards of the underserved communities by providing them proper housing in nearby apartment complexes and thereby utilising the vacant lands where the dilapidated settlements are utilised for city’s future development. The project is implemented under the guidance of Urban Development Authority and construction and supervision of Central Engineering Consultancy bureau

The scope of the project entrusted to Access Engineering PLC includes design and construction of four 15 storey apartment blocks which comprise 941 housing units of two bed rooms and spaces for living, kitchen, toilet and balcony along with the basic utilities.

“The structural works of all four apartment- blocksare now completed and the operation team of Access Engineering is mainly involved in the interior and exterior finishes and MEP works of the buildings,” said Urban Regeneration Project Henamulla (Phase II) Construction Manager Upul Henepola.

This development which intends to enhance the living standards of the community with pleasing visual environment and maximum privacy for individual housing units is executed in accordance to the regulations of Central Environmental Authority (CEA), Fire service department and Ceylon Electricity Board (CEB).

While Access Engineering PLC successfully completed and handed over 1137 housing units in the phase I of the relocation project in Henamulla in October 2014, the phase II is scheduled for completion in March 2017.

- http://www.ft.lk/article/573998/Urb...-Phase-II-by-Access-Engineering-in-full-swing

Construction of 941 Housing Units - Relocation of undeserved Settlements Project At Henamulla (Phase II)
- http://www.accessengsl.com/project/...in-the-city-of-colombo-at-henamulla-phase-ii/

 

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Plan to cleanse dirty Colombo?

With the revamping of the sewer system under the ADB funded Greater Colombo Wastewater Management Project, it is likely that a sewerage tax will have to be introduced in the future, an official of the Colombo Municipal Council, Drainage and Water Supply Division said.

Colombo Municipal Council, Director Engineering (Drainage and Water Supply), MIM Salim said that it has now become inevitable to impose the tax. He said this in response to the laying of sewage pipes in Colombo.

“Seventy per cent of Colombo city is already under sewage,” said Salim. He added that under the ADB funded project the rest of Colombo will be provided with the facility.

The sewage from the Dehiwala-Mount Lavinia Municipal Council and Kolonnawa Urban Council areas are connected to the Colombo system for sea disposal. Additionally 11 institutions located outside Colombo Municipal limits discharge their sewage through the Colombo system. This sewage is dumped into the sea 1.5 kilometres offshore, untreated through two sea outfalls, in Wellawatta (1243 metres) and Modera (1834 metres), each disposing approximately 150 million litres of sewage per day, according to Salim.
The waste includes bathroom and toilet waste and liquid kitchen waste. The gravity sewer system is approximately 300 kilometres in length. The sewage collected is transported over 38 kilometres by 20 pumping stations. The pipes consist of clay, PVC and DI (Ductile iron).

Increasing pressure on sewer system

However, the increasing population in the city has reduced the capacity of the sewer system that is made up of nine to 12-inch pipes, which will be upgraded to 450 mm pipes under the ADB project.

The key problems in the up-keep of the sewer system are the high energy and operational costs involved in the operation and maintenance of a system that is now obsolete. This also results in frequent breakdowns. Lack of awareness is another issue that leads to increasing maintenance and repair costs, according to Salim.

“People flush everything from polythene to towels down the toilet. These clog the lines leading to huge repair costs”, he said.

An ADB loan worth US $343 million has been passed to revamp the sewer system that’s 91 years old. Major works of the existing sewer system was completed in 1925. Under the ADB loan, areas that are not provided sewage facility, such as Kirulapone and Mattakkuliya will be developed. Salim said that new treatment plants are also planned under the ADB project.

He revealed that similar projects are planned for both the North and South which will include waste treatment plants. He said that the ADB loan for the Northern catchment area will be signed in the near future.

Environmental concerns

Raising concerns about the effectiveness of such waste treatment, Sri Jayawardenepura University, Geography Department, Emeritus Professor Jinadasa Katupotha pointed out that Sri Lanka is located in the open sea. “There are no islets to shield us from the open ocean currents that will wash pollutants of our own making back ashore”, he said.

Although unrelated to the sewage problem, Prof Katupotha pointed out that with hospitals and restaurants thriving in Colombo, food waste and potentially dangerous waste such as blood and surgical waste added to the problem.

Prof Katupotha warned that dumping untreated sewage in the sea could have extreme detrimental effects on marine biology as well as human health. He pointed out that Sri Lankans consume fish caught from these seas and consumers often confide that fish caught off Wellawatte, near the sewage outfall, are comparatively ‘tastier’.

He said that the sewage has become a food source for the fish that have made the sea surrounding Sri Lanka their habitat. He also raised concerns about the chemicals that will invariably be discharged with any treated waste water after the treatment plants are put in place. These chemicals will in turn make way into the human food chain.

Tax

“The plant at Wellawatta will be completed in two years and the one in Mutwal (Modera) in four years approximately,” said Salim. He said that the cost of operating and maintenance of the plants will add to a host of other expenditure.

“As things stand, the government spends one billion a year for maintenance and operation of the existing sewer system,” said Salim. According to him, the monthly electricity bill for the two biggest pumping stations, that pump sewage to the two sea outfalls, is a staggering three million each.

All this may come at a price to the consumer in the future. Salim confided that although such a service was provided free of charge to the urban public for so long, when the project is completed and the treatment plants fall in place and in working order, it will add to the maintenance and operational cost of the sewer system.

“The public may have to pay a tax in the future”, Salim declared.

Salim explained that the sludge left over by the treatment process will be disposed with the solid waste. He said they have no hope of composting as there is little demand for it in Colombo.

Salim claimed that energy generation through biogas produced from waste is a viable option, but pointed out that the biggest obstacle for such a venture is space. “Colombo is already so congested and we barely have enough space to expand the existing sewer system”, said Salim.

He admitted that Sri Lankan city planning is flawed. “Even the existing sewer lines run below private lands, because they have been permitted to build over sewer lines,” Salim said.

He explained that this creates difficult maintenance and they are now in the process of relocating these sewer lines onto public roads.

“We are also planning to ban any building over sewer lines under new regulations,” said Salim.

Road construction

To minimize road damage in the process, Salim said that they would use something referred to as micro tunnelling or pipe jacking to lay the new sewer lines. He claimed that this will result in minimum road breakage. It involves digging two holes, the jacking pit, through which the pipe is sent to the receiving pit.

“If not for micro-tunnelling, damage caused would be immense,” concurred Road Development Authority (RDA) Chairman Nihal Sooriyarachchi. Regarding the removal of sewage pipe lines out of private lands and relaying them in public roads, which will invariably entail road breakage, Sooriyarachchi said: “This will have to be corrected somewhere down the line, but will be done with minimum road breakages.”
Referring to the lack of coordination between government departments such as Telecom, Water Board and local authorities when repeatedly opening up roads to lay utility lines, Sooriyarachchi admitted that this is something they are working to streamline immediately.

“Such coordination is required at a national policy and planning level,” emphasized Sooriyarachchi. He said that utility providers such as Water Board, LECO, Irrigation Department and Urban Development Authority are working with the RDA to reduce damage to the road system during repairs and the laying of new utility lines.

“For example, when RDA took over the work of the 174 bus route, we came to an agreement that there would be no road breakage for another five years,” said Sooriyarachchi. He said that at a coordinating meeting held between the RDA and utility providers with regard to the road construction work of the 155 bus route from Ela Kanda, Ja Ela to Fort in Colombo, it was decided that all utility lines will be laid on the pavement instead of the road. “This way the road will not have to be broken every time a utility line has to be repaired”, he said.

Sooriyarachchi emphasized that the RDA will not approve any road breaking activity unless funds are passed for its repair. “No utility provider can take up any kind of construction on the road without the written approval of the RDA. But in emergency situations, the RDA consents to any road breakage based on mutual agreement and any road repair will be done immediately,” he assured.
(Pics by Chamila Karunarathne)

- http://nation.lk/online/2016/10/15/plan-to-cleanse-dirty-colombo.html

 

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Prime Beira waterfront land for private sector developers

The government has earmarked 66 hectares of prime waterfront land on the banks of the Beira Lake, owned by State organisations, to be offered to the private sector for development under the Western Region Megapolis Project with existing tenants being given alternative housing and commercial activity relocated. The Megapolis Ministry will provide electricity, water supply, drainage, other infrastructure and access to the lands that will be freed up under the project in co-ordination with other agencies, government officials said. These lands will first be vested with the Urban Development Authority which is working with the Western Region Megapolis Project office. The lands will then be offered to the private sector in a competitive manner on long-term leases. Singapore’s Temasek Foundation, which is helping the government with its urban re-development plans, is supporting the project.

The government will provide alternative houses to families now settled on the banks of the Beira Lake through the Urban Development Authority and help relocate warehouses and other commercial activity not compatible with the proposed future development plans for the waterfront. Over 800 unauthorised structures, including houses, have been built in the area.

“These lands have high potential but are now being put to sub-optimal use and the plan is to relocate these commercial activities to suitable locations elsewhere,” an official said. “There is a high demand for these lands from private developers.”

Much of the land is owned by the Sri Lanka Ports Authority and the Railway Department. Other State organisations such as the Co-operative Wholesale Establishment and the Janatha Estate Development Board also own land on the Beira waterfront. The Beira Lake had been used for warehousing and port-related activity. The old warehouses on its banks had been used from colonial times to transport goods to the port but have fallen into disuse and the area neglected in more recent years.

Megapolis Project office officials said the lands are in the north wing of the Beira Lake bordering the Fort, Pettah, Slave Island and Maradana areas. “These areas will form the core of the planned central business district, the water front recreation zone and the multi-modal transportation hub to be created under the Western Region Megapolis project,” the official said.

French investors keen on Megapolis

A visiting French delegation, including a renowned architect Bernard Lamy and investor Maxime Laurent, has shown keen interest in investing in some of the megapolis transport projects, Chairman, Western Region Megapolis Planning Project, Ajita de Costa said. He said the delegation was in Colombo last week and was briefed on the proposed megapolis project and the investment opportunities. “They were keen to return with investment proposals soon. Some of the members of the delegation also met Prime Minister Ranil Wickremesinghe and Minister of Development Strategies and International Trade Malik Samarawickrama and Minister of Law and Order and Southern Development, Sagala Ratnayaka briefly during their visit, de Costa said.

- http://www.sundayobserver.lk/2016/1...ira-waterfront-land-private-sector-developers

 

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මොරගහහේන බස් නැවතුම්පල ජනතා අයිතියට.

 

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Capital Trust Residencies launches Fortress, Altitude in Kotte

With the successful launch of two high-end luxury apartment complexes in Vajira Road, Colombo 04 and Thimbirigasyaya Road, Colombo 05, Capital Trust Residencies is launching its latest projects – ‘Fortress’ on Kotte Road, Ethul Kotte and ‘Altitude’ on Epitamulla Road, Pita Kotte, bringing a world class luxury living experience to the heritage city of Kotte.

Capital Trust Residencies Fortress Kotte Road, Ethul Kotte consists of 29 apartments, comprising two, three and four bedroom units on 10 floors, providing elegant furnishing options and greater privacy and security. There are five different apartment designs to choose from with the sizes ranging from1050 sq. ft to 2200 sq. ft.

Capital Trust Residencies ‘Altitude’ at 75, Epitamulla Road, Pita Kotte offers 99 apartments comprising two, three and four bedroom units on 21 floors, all with a panoramic view of the city and Diyawanna Lake . With nine different apartment designs and sizes ranging from 990 sq. ft to 1850 sq. ft. prospective buyers are indeed spoilt for choice .

Both ‘Fortress and ‘Altitude’ apartment complexes contain every modern amenity. The living and dining room and all bedrooms will be air conditioned, while windows will be powder coated aluminum widows with a French propriety system.

Other features designed to pamper residents at Capital Trust Residencies include a rooftop swimming pool with an infinity edge and a landscaped rooftop garden which is ideal for social interactions and entertaining guests.

Sri Lanka’s foremost architect of luxury high rise living Milroy Perera Associates is the design firm, while the contractor is a top-tier ICTAD C1 construction company.

Capital Trust has already obtained the building permits, approved building plans and all other necessary approvals to commence construction shortly.

“We could also provide you with the necessary assistance in order to obtain loan facilities from any private or government bank to purchase our apartments”, said a spokesman from Capital Trust.

- http://www.dailynews.lk/2016/10/17/business/96149

 

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China, Sri Lanka Vow To Deepen Cooperation Within Belt And Road Framework

Chinese President Xi Jinping met with Sri Lankan President Maithripala Sirisena on Sunday, vowing to deepen bilateral pragmatic cooperation within the Belt and Road framework.

The two leaders met on the sidelines of the eighth BRICS summit in the western Indian state of Goa.

China-Sri Lanka relations have seen positive and healthy development momentum, said Xi, noting that China will work with Sri Lanka to carry forward the traditional friendship cultivated by generations.

Next year marks the 60th anniversary of the establishment of diplomatic ties as well as the 65th anniversary of the signing of the Agreement on Rice for Rubber, he said, calling on the two sides to take the opportunity to cement traditional friendship and deepen mutually beneficial cooperation, so as to lift bilateral ties to a new high.

In 1952, Sri Lanka withstood the pressure from the United States and other Western countries and signed the famous rice and rubber agreement with new China, and in doing so, opening a chapter in the history of friendly exchanges between the two countries.

To further their relations, Xi suggested the two sides maintain high-level contacts and political communication, and continue to show mutual support on issues concerning each other's core interests.

China appreciates Sri Lanka's support for and active participation in the Belt and Road construction, said Xi.

He called on the two sides to deepen cooperation in the sectors of trade, port operation, infrastructure construction, port-vicinity industrial parks, production capacity and people's livelihood.

He said the two sides should continue to advance their mega cooperative projects such as the Colombo Port City and Hambantota Port.

Xi voiced hope that the two sides will make good preparations for the activities celebrating the 60th anniversary of the establishment of diplomatic ties and encourage more exchanges among all sectors of society, including local affairs, Buddhist community, youth, think-tanks and media.

The Chinese president also suggested the two sides expand cooperation in the fields of tourism, ocean, security and disaster preparedness and mitigation.

He said the two countries should enhance coordination within multi-lateral frameworks and continue to support each other in international and regional affairs.

For his part, Sirisena said the time-tested relations between the two countries have gained a stronger momentum under the new situation.

He thanked China's assistance for Sri Lanka's development as well as China's support to his country on the international arena.

Sri Lanka adheres to the one-China policy and is willing to strengthen coordination and communication with China in international and regional affairs, he added.

Sirisena said Sri Lanka is willing to speed up the implementation of relevant economic and trade agreements with China as well as cooperation on maga projects. He welcomed Chinese enterprises to increase investment in Sri Lanka.

Sri Lanka is a member of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), a regional mechanism that is aimed at connecting South Asian and Southeast Asian countries and also groups Bangladesh, Bhutan, India, Myanmar, Nepal and Thailand.

On the margins of the BRICS summit in Goa, Xi and other BRICS leaders held dialogues with the BIMSTEC leaders and representatives.

(Xinhua)

 

[Mayan19]

 

[monson]

China agrees to provide Rs. 2.6 billion worth military assistance, OPV to Sri Lanka

Mon, Oct 17, 2016, 11:57 am SL Time, ColomboPage News Desk, Sri Lanka.

Oct 17, Colombo: Sri Lanka and China have reviewed the entire range of defense cooperation between the two countries during the recent visit of Sri Lanka's Secretary of Defense to Beijing, to participate in the 2nd China - Sri Lanka Defense Cooperation Dialogue.

During the meeting two agreements related to the provision of Chinese Yuan 120 million (Rs. 2.6 billion) worth of military assistance and the provision of an Offshore Patrol Vessel (OPV) to Sri Lanka was also signed at the conclusion of the Dialogue.

Admiral Sun noted that China views South Asia as an important partner and firmly supports Sri Lanka's efforts to safeguard national independence, sovereignty and territorial integrity.

- http://www.colombopage.com/archive_16B/Oct17_1476685629CH.php

 

[monson]

 

[monson]

Japanese firm withdraws from third stage construction of the Central Expressway

The Japanese firm which was to be given the contract to carry out the third stage of the Central Expressway is said to have withdrawn, thus compelling the government to search for another construction company.

The expressway is to be constructed in three stages with the contract for the first stage from Kadawata to Mirigama awarded to a Chinese company and the second stage to Kurunegala via Potuhera awarded to a local contractor.

Under the third stage, the expressway will stretch from Potuhera to Kandy.

When asked about the progress made into the work on the third stage, Highways and Higher Education Minister Lakshman Kiriella said a new contractor would be found after the Japanese contractor withdrew after five months of negotiation.

“There are proposals from several companies. We will finalize the contractual process in due course,” he said. (Kelum Bandara)

- http://www.dailymirror.lk/article/J...ruction-of-the-Central-Expressway-117587.html

 

[monson]

මහා නගරය ඉදිකිරීමට ඩොලර් මිලියන 2000ක සහන ණය

ආසියාවේ සිත් දිනාගත් පළාත ලෙස බස්නාහිර පළාත ගොඩනැඟීමේ මෙගාපොලිස් යෝධ සංවර්ධන ව්‍යාපෘතියේ මුල් අදියර ක්‍රියාත්මක කිරීමට අමෙරිකානු එක්සත් ජනපද ඩොලර් මිලියන 2000 ක ණය මුදල් ලබාදීමට විදේශ මූල්‍ය ආයතන තුනක් ඉදිරිපත් වී සිටිති.

මේ යටතේ මාලඹේ සිට කොළඹ කොටුව දක්වා කුලුනු මත සැහැල්ලු දුම්රිය පද්ධතියක් ඉදිකිරීමට ජපාන අන්තර්ජාතික සහයෝගීතාව පිළිබඳ ආයතනය (JICA) විසින් ඩොලර් මිලියන 1250 ක ණය මුදලක් ලබාදීමට කැමැත්ත පළකොට ඇත.

මේ මුදල යොදාගෙන මාලඹේ සිට කොළඹ කොටුව දක්වා දුර කිලෝමීටර් 25 කින් යුතු සැහැල්ලු දුම්රිය පද්ධතියක් ඉදිකරනු ඇත. මේ කටයුතු සිදුකිරීමත් සමඟ දැනට මාලබේ සිට කොටුවට පැමිණීමට ගතවන කාලය පැය 1 1/2, 02 කාලය විනාඩි 20 ක් තරම් අඩුවනු ඇත.

ඊට අමතරව පාණදුර සිට වේයන්ගොඩ දක්වා නව දුම්රිය මාර්ගයක් ඉදිකිරීමටත්, එහි විදුලි දුම්රිය ධාවනය කිරීමටත් හැකිවන සේ දුම්රිය නවීකරණය කිරීමට ආසියානු සංවර්ධන බැංකුව ඩොලර් මිලියන 600 ක මුදලක් ලබාදීමට එකඟතාවය පළකොට ඇතැයි මෙගාපොලිස් ව්‍යාපෘතියේ ආයෝජන ප්‍රධානී නයන මාවිල්මඩ මහතා පවසයි.

කොළඹ කොටුව සිට ඩී. ආර්. විජේවර්ධන මාවත ආශ්‍රිත බේරේ වැව දෙපස භූමිය සංචාරක ආකර්ෂණීය කලාපයක් ලෙස වැඩිදියුණු කිරීමට ලෝක බැංකුව විසින් ඩොලර් මිලියන 12 ක මුළු මුදල ලබා දී ඇත.

මේ ණය මුදල් අතුරින් ජයිකා ආයතනය විසින් මෙරටට ලබාදෙන ණය මුදල ආපසු ගෙවීමේ කාලය අවුරුදු 40 කි. ණය මුදල ලබාගෙන අවුරුදු 10 ක් ගතවූ පසු වාරික හා පොලිය ගෙවීම ඇරඹීමට හැකිවන පහසුකම ද ලබා දී ඇත.

මේ ණය මුදලට අයකරන පොලිය වනුයේ සියයට 0.1 ක් තරම් ඉතාම අඩු පොලියක් වීම විශේෂ ලක්ෂණය බව ද ආයෝජන ප්‍රධානියා පැවැසීය.

- ජයසිරි මුණසිංහ

- http://www.dinamina.lk/?q=2016/10/13/23705