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| Sunday, 2 October 2005 |
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Business |  |
| News Business Features Editorial
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Benison International to launch quality property development The inaugural venture of Benison International Property Developers (Pvt) Ltd., a BOI company spearheaded by Chairman, Dr. Sunil D Silva will be ready for occupation by June 2006. Located along Baseline Road, it is conveniently situated in the midst of hospitals, schools, banks, supermarkets and parks and is within easy reach of the commercial hub of the city. The modern residential complex on 95 perches of land comprises two towers. "The first tower will comprise seven blocks of eight stories and 43 apartments, offering four types of units ranging from two to three bedroom apartments, three bedroom duplexes and two Penthouse suites, as well as a gymnasium, sauna and a landscaped rooftop terrace. Dr. De Silva said "the total investment on the first tower is around Rs. 450 million, while the second tower will see a further investment of Rs. 450 million". The second tower which is due to be completed by the end of 2007 will comprise 30 apartments, a swimming pool, mini market and launderette and will be connected to the first tower. Both towers will have 24-hour security, CCTV monitors and covered parking. The board of directors of Benison International comprise a group of professionals with over 30 years experience. "We are all civil engineers who have had a great deal of experience in property development overseas and we are aware of the standards maintained in other countries", said De Silva, who lamented the lack of standardisation of fittings, construction methods and building materials. "In developed countries there are standards for everything and you have to adhere to those standards, unfortunately this is not the case in Sri Lanka". De Silva said there was a huge demand for quality housing with the demand increasing, whilst the price of land and construction escalated. "Tsunami reconstruction has lead to the price of labour and materials going up and last year alone construction costs went up by 40%; the oil hikes haven't helped either". The main contractors for the project are Sierra Construction while the project management will be handled by Benison International. |
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