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| Sunday, 3 February 2002 |
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| News Business Features Editorial
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Housing development project celebrates 1st anniversary The first phase of Nivasiepura a residential housing development taking shape 26 kilometres north of Colombo, has been completed on schedule and 300 housing units sold, the project's promoter announced this week. The two billion rupee project which celebrated its first anniversary recently encompasses 144 acres of landscaped and developed real estate near Kotugoda in Ja-Ela. On completion in 2004, it will comprise 1800 houses with comprehensive infrastructural and recreational facilities. "Our first year of operation has been very encouraging," Herman Gonsal, General Manager of Nivasie Developers (Pvt) Ltd., the promoter of the project said. "The second phase of construction has just commenced and is scheduled for completion this year." A feature of the Nivasiepura scheme, Mr. Gonsal said, was the effort to create a green city, with winding green belts, arbors, parks, man-made lakes and extensive lawns that blend to produce a tranquil resort atmosphere that is virtually impossible to attain in a big city. Utilities at the site include paved roads, electricity, uninterrupted water supply, telephones, fully maintained drainage and sewerage treatment plant, and custom-built bus stand, supermarket, and day-care centres. Among the recreation facilities provided are a swimming pool, gymnasium, jogging tracks, children's parks and a banquet hall. "Our target market comprises middle and upper middle income families, who are looking for a comfortable home as well as a healthy lifestyle," Mr. Gonsal added. Established under the auspices of the Board of Investment, Nivasie Developers (Pvt) Ltd., is a fully owned subsidiary of International Construction Consortium, one of the top six construction companies in Sri Lanka. Surath Wickremasinghe Associates is the architect for the project. |
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