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Message: <blockquote data-quote="monson" data-source="post: 21087170" data-attributes="member: 30005">Fourth phase to begin in March<img src="http://sundayobserver.lk/sites/default/files/styles/large/public/news/2016/12/30/z_p32-Fourth.jpg?itok=9pGp4TeM" alt="" class="fr-fic fr-dii fr-draggable " style="" />Work on the fourth phase of the residential development project comprising two more towers with 340 luxury condominiums will be launched in March this year, Overseas Reality (Ceylon) PLC Director/ Group Chief Executive Officer Pravir Samarasinghe said.He said work on the third phase of the residential towers which was launched in March last year is progressing at a satisfactory pace and added that the third and the fourth phases will be completed by 2020.The third phase comprises two towers with 304, two, three and four bedroomed apartments.“Sale of the residential apartments were progressing steadily in 2016 with local and high net worth buyers of the diaspora being the primary market”, Samarasinghe said. He said, the large number of luxury apartments built in Colombo will have a positive impact on the sales velocity.“However, we were encouraged by Budget 2017 which removed restrictions, facilitating the purchase of apartments by foreigners opening up a new segment to the apartment market,” Samarasinghe said.Overseas Reality, a listed specialized property company is the owner and manager of the World Trade Centre, Colombo.“In addition to the residential development our primary focus this year will be on the implementation of the commercial development which comprises an office tower, the dominant feature of the development and a mega shopping mall built ot international standards.- <a href="http://sundayobserver.lk/2017/01/01/business/fourth-phase-begin-march" target="_blank">http://sundayobserver.lk/2017/01/01/business/fourth-phase-begin-march</a></blockquote>

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