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Message: <blockquote data-quote="monson" data-source="post: 20688202" data-attributes="member: 30005">With 80% of pre-release investment apartments already sold out, construction is scheduled to kick-off at the end of 2016.- <a href="http://www.ceylontoday.lk/print20160701CT20161030.php?id=5650" target="_blank">http://www.ceylontoday.lk/print20160701CT20161030.php?id=5650</a> DusitThani Balapitiya to begin Rs 3 bn hotel <img src="http://dusitthanisrilanka.com/wp-content/uploads/2016/03/DUSIT_BEACHFRONT.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /> <img src="http://dusitthanisrilanka.com/wp-content/uploads/2016/05/gallery01.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />An apartment cum hotel complex will be built in Balapitiya for the first time in the Sri Lankan construction history.Branded as DusitThani Sri Lanka Balapitiya Beachfront, the first phase of the construction will commence in November and will be ready by 2018. The investment would be Rs. 3 billion making it the biggest mixed development project to be undertaken outside the Western Province.The project will be built by Indola Group Pvt. Ltd, an Australian company into shoes and sports equipment and accessories store and exporting company and Dusit International, a 65 year old Thai based hospitality and education company.The land has been acquired and the designer for the project is DesignTeam 3, Dusit International Vice President, Rustom Vickers said.Under the first phase 126 units, accumulating to 248 keys will be built in a single tower of 15 floors.The first phase will include around 40 rooms, an all-day dining restaurant, specialty restaurant, Pool Bar and Rooftop Bar, Spa, Fitness Centre, Swimming pools, and will also offer around 30 rooms which would be operated as a full service resorts hotel.Vickers said this will be one of the closest apartment complexes to the beach and is one of the unique selling points. In addition free hold land of the project to foreigners with the new foreign land ownership laws too is another advantage.“Sri Lanka too is now being looked at a favourable destination for both tourism and investment and this too is another “plus’. The Colombo airport is to be linked to the Southern highway soon and easy and quick access to the property also makes DusitThani Sri Lanka Balapitiya Beachfront’s intentional marketing easier.” “We have already started marketing and have received a good response from accross the world.”Under the second phase a further 196 units, accumulating to 320+ keys will be built. This will imclude multi-purpose function space to be leased out to international fashion stores and a beach club with multiple F&B outlets.This will another Rs. 3.5 billion investment expected to start end of 2019. Vickers said this project will be a game changer for Sri Lanka and they would be creating and opening up a new destination for investment in Balapitiya.“We have confidence in Sri Lanka and now we are looking at a carbon copy this project to be built in the Eastern province where we see potential to grow.” - <a href="http://www.dailynews.lk/?q=2016/04/26/business/79799" target="_blank">http://www.dailynews.lk/?q=2016/04/26/business/79799</a></blockquote>

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