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Sunday, 14 August 2011

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Phase two of HavelockCity project estimated to cost $ 40m



BoC Chairman, Dr. Gamini Wickramasinghe, CEO Mireka Capital, Pravir Samarasinghe, Assistant General Manager BOC, Russel Fonseka, Deputy Chairman ORCL, H.Z Cassim, Director ORCL and Mireka Capital, Mildred Tao Ong, Director Mireka Capital, Ralph De Lanerolle, DGM Projects Have-lockCity, Elmo Fernando cut the first sod. Pic: Chinthaka Kumarasinghe

Work on the second phase of the HavelockCity project which encompasses two towers will commence in October, CEO Mireka Capital, Pravir Samarasinghe said at the launch of the multi-storeyed club house complex to be set up at Havelock City.

He said that the first phase of the eight residential towers which comprises 1,080 apartments has been completed with the Park and Elibank Towers already in occupation.

"Phase two which is estimated to cost around US$ 40 million is scheduled to be completed in 13 months", Samarasinghe said.

The HavelockCity residential towers built on a 17-acre prime land is the second largest real estate development project of Overseas Realty Ceylon PLC (ORCL) spearheaded by renowned Singaporean real estate entrepreneur and business tycoon S.P. Tao.

The residential towers built on a central location provides a connectivity to all key roads in the city and offers residents a panoramic view of the city.

The US$ 350 million project is the largest real estate investment in the country.

Samarasinghe said the club house is designed to take advantage of the panoramic view of the six acre roof garden and the surrounding towers.

The four - storied complex which will consist of a built area of 40,000 sq ft is estimated to cost US$ 4 million.

The club house is designed by East China Architectural Design and Research Institute which is the architect for the entire project. The complex is exclusively for HavelockCity residents.

The project will comprise two office towers and a state - of - the art shopping mall under four phases. It is scheduled to be completed by end 2015.

 

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