Havelock City sells 25% apartments of Phase 2

Havelock City launched the sale of its phase 2 residential apartments in February this year. Phase 1 apartments are already in occupation.

"Sales of apartments have been very encouraging.

We have already sold 25 percent of the apartments," said Senior Sales Manager Havelock City, Nirupa Peiris.

The current economic boom and political stability in the country has helped boost interest in the project by overseas clients and local buyers.

Phase 2 comprises two more towers, Layard's and Davidson with a total of 225 apartments. The two towers with 22 levels each, promises stunning views of the city and the sea on completion, and will include a combination of two, three, and four bedroom apartments as well as penthouses.

The entire Havelock City project on completion will have a six acre elevated roof garden and a Clubhouse surrounded by eight residential towers.

The Clubhouse will be one of the largest in the country, providing a range of recreation and leisure facilities. The garden itself will be one of the largest of its kind in South Asia and a singular attraction of this development, virtually bringing a 'park' to the doorstep of the residents of Havelock City.

Havelock City will also have the country's largest and most modern shopping mall with two large office towers.

The project partners are Overseas Realty (Ceylon) PLC and the Bank of Ceylon. BoC's equity contribution to the project was the 13 acre freehold land it owned.

This site, valued at market, was matched by Overseas Realty bringing in project funding in the form of foreign investment, together with extensive expertise in real estate development in the Asian region and China.

The additional land of five acres for the project was purchased directly by the Company.