Lankan apartments overpriced

Jul 31, 2023

Skyline Property Developers (Pvt) Ltd which has invested Rs. 400 million for Skyline Kotte apartments at Bangala Junction, Kotte, has reached its final phase of construction. It will be unveiled by December, 2017.

The property built by team of young engineers offers the 30-unit luxury apartment complex provides five-star living at an affordable price.

A unique feature of the project is that it has being built without any pre-sales.

“We invested Rs. 400 million with 65% borrowings and using our own capital as we wanted to give the customer a ‘near completed’ apartment unit rather than asking the customer to buy a property only looking at drawings and computer images,” said Director, Skyline Property Developers (Pvt) Ltd., Dinul Wijethunga.

The project built on six floors will have a rooftop swimming pool, sauna, jacuzzi, spa and gymnasium and imported mahogany and steel finish fittings to offer luxury.

“We have paid great attention to detail in identifying simple conveniences and merging them with value offerings to introduce what we believe is a milestone in the housing industry,” said Matarage Real Estate Consultants’ (which is handling the marketing) Anoma Matarage.

Skyline Kotte also features a dual-elevator system, parking with separate entrance and exit, 24-hour security and surveillance, vending machines and Pin access and video surveillance in each apartment.

An engineer by profession he said that they observed that many of their competitors in the industry keep huge margins and in contrast they wishes to keep a small profit and give a better deal for the buyer. “We do not want to be overpriced.”

He also said that they are looking at other investments in the hospitality training and restaurants sector and apartments in the future in Colombo and Gampaha.

Apartments range in three categories from 1,301 sq.ft. to 1,434 sq.ft., and include three bedrooms, three bathrooms, kitchen, living area and three balconies. The starting price from Rs. 19.9 million.

Designed by Team Architrave and constructed by Dwellco (Pvt) Ltd, Skyline Property Developers (Pvt) Ltd have partnered with pioneers in the field of architecture and design to ensure it appeals to residents accustomed to the highest world-class standards.

Pre-sales commenced last month and with only 20 apartment units remaining, potential buyers are offered a 5-10% discount upon half or full upfront payment.

More details could be obtained from www.skylineproperties.lk.