The ongoing real estate developments in Colombo Port City received strong endorsement from Home Lands Group Chairman and Managing Director Nalin Herath, who spoke to Hiru News during the media launch of their twin-tower luxury development, Central Park Boulevard, positioned within Port City Colombo.

He said that although many people may find it hard to believe, apartments in Colombo Port City are currently somewhat cheaper than those in well-established residential areas such as Colombo 07.

However, he noted that the return on investment from Colombo Port City real estate projects is expected to be significantly higher than that of traditional residential properties in Colombo in the years ahead.

He also pointed out that carrying out construction projects within Colombo Port City is comparatively easier and more efficient, helping developers maintain lower production costs while ensuring faster project delivery timelines.

“When we engage in construction projects in Colombo suburbs and other parts of the city, work often has to stop around 7.00 p.m. due to noise restrictions and other limitations. However, in Port City we are able to work longer hours, which allows us to operate two shifts. This gives constructors substantial cost savings and also helps reduce construction time significantly within Colombo Port City,” he said.

Dismissing another misconception that developments in Port City may not be safe or may lack quality because they are being built on reclaimed land, he said such claims were completely unfounded.

“If you look at Palm Deira in Dubai, large-scale developments in Singapore, or even the Hong Kong International Airport, all of these have been built on reclaimed land. Therefore, Port City is no different, and these developments are structurally stable and safe for living,” he added.

He further said that Colombo Port City developments offer exceptional value for both foreign investors and local buyers, as residents are able to enjoy a resort-style lifestyle with world-class amenities and unparalleled views of the ocean, sunsets, waterways, and the expansive 40-acre Central Park.

This landmark 37-storey project, designed by renowned SOG Architects Singapore together with PWA Architects Sri Lanka, will offer 630 ultra-luxury residences, including elegantly designed one, two, and three-bedroom apartments, premium villas, and exclusive penthouses.

This iconic twin tower development is expected to attract large inflows of foreign currency into the country, with the total project value estimated at over US$ 300 million. The project investment of US$ 150 million by Home Lands marks the largest real estate investment by a single Sri Lankan developer. (Shirajiv S.)