A new design with a new experience in a construction field.
Total investment for the Altair project is USD 250 million.
The first phase of the Altair Multi-storey Mixed Development Project at Competitive Street, Colombo, which was built like a new experience for the construction sector of the country, is urban development, coastal conservation, waste disposal and community sanitation affairs, Dr. Nalaka Godahewa’s Minister of State Opened yesterday evening (12) under patronage.
The Altair Building, a residential and commercial marketing complex, a project where an investor paid the full investment amount simultaneously for a Sri Lankan project, was a project started when the current Honorable President Gotabhaya Rajapaksha was the secretary of security, Mr. Sirinimal Perera, Secretary to the Ministry of Urban Development and Housing It’s been declared.
The project, which is being implemented for the purpose of encouraging foreign investment, was set to complete work in 2017 But work stopped here during the last government and due to the involvement of President Gotabhaya Rajapaksha, the Ministry Secretary Sirinimal Perera also showed that he will resume the work here soon and open its first phase like this.
The project that had stopped construction on the road got the attention of the President in May 2020For this, the Secretary to the Ministry of Urban Development and Housing, Sirinimal Perera appointed a leading committee and the project was completed within a year after solving the shortcomings and investors problems which were delayed by 05 years.As the Minister of Urban Development and Housing, Hon ‘ ble Prime Minister Mahinda Rajapaksha advised that the construction work here should be done quickly and to provide those houses to the homeowners who have spent money.
The project with all the amenities built in front of Gangarama Border in an artistic way, is set to open the residential and commercial mall for residential and business activities, taking the traditions in the country’s construction sector to a different path.A growth, uprising in the local economy and humane society is expected after the opening of this residential and commercial complex called the Altair Building.Under this, Sri Lanka has created a new creative investment pattern with a more confident and quality ambience, and the new investors can get the maximum benefit from the money spent on it, this gives investors all over the world an assurance.Similarly, the existing employment demand can be met by a higher percentage, under which a large number of direct and curved jobs are new.
The altair building has been built on 02 acres of land near the Colombo Gangarama Limitarium, belonging to the Urban Development Authority.The investment amount for the Altair building is USD 250 million. Indodis development company is working as an investor here.The development project of the land which was leased at Rs 2,560 million under 99 years in 2011 with the aim of developing solid development lands under the Bere Lake Development Project was started in 2012 and completed its work in 2021The altair building has a height of 230 meters and consists of 68 floors.Accordingly the Altair building consists of 407 super luxury homes with 4 types.
The commercial area here is 30,000 sqft. All homes are equipped with modern amenities. Built using high quality materials, this home ranges from 1400 sqft to 5000 sqft.The Altair building consists of 600 parkable vehicles, bodybuilding center, 02 swimming pools, festival halls and standard sanitation facilities. A garden built on half an acre of land is featured here.
There is still no final conclusion on the price of homes offered on a Sinnakkara sales basis.The Urban Development Authority says all rights including construction, price determination, financing, and operating sale price determination, except the ownership of the land which was leased for 99 year, are owned by the Indodis Development Authority.
