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| Sunday, 11 May 2003 |
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| News Business Features Editorial
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Housing project to expand Nivasiepura, the housing project of Nivasie Developers (Pvt) Ltd, plans to expand out of its present location at Ekala, Ja-Ela once it completes its first phase. The company has earmarked Central Colombo and a few suburbs as possible areas to set up shop and will start in these areas within this year, Marketing Manager Nivasie Developers Panduka Weerasinghe told the Sunday Observer. "Ours is an eco-friendly project with 50 per cent of the land area reserved for open spaces. We have a lot of greenery, lawns, man-made lakes and green belts around the complex which enhance the beauty and serenity of the area," he said. The project comprises five types of houses named Kingfisher, Oriole, Golden Oriole, Swan and Flamingo. The land area ranges from 600 sq ft to 1,400 sq ft. The Rs 1.2 billion project, a planned satellite city, comprises 660 houses in the fist phase out of which 540 have already been sold. The project, when complete, will include a shopping complex, swimming-pool, gymnasium, a day care centre and a central drainage and sewerage treatment plant, among a host of other infrastructure and recreational facilities. The company has also set up a venture inside the premises to look into all maintenance aspects of the site. Different payment terms have been arranged to suit different clientele while banking loans are also facilitated. The Board of Investment-approved Nivasie Developers is a fully-owned subsidiary of the International Construction Consortium, a leading construction company in Sri Lanka. Surath Wickremasinghe Associates is the architect for the project. (IT) |
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