THE Investment Magazine / RIU REAL ESTATE UPDATE:The uptake of luxury and semi-luxury apartment units in recent years has increased exponentially. Over the past decade, the skyline of the capital has continued to be shaped by the luxury and semi-luxury residential developments that have sprung up in the Colombo Business District. Moreover, the projects currently under construction will further accelerate this process and serve towards transforming the capital towards becoming a major regional hub for tourism, commerce and luxury living. (See Table 01overleaf) It may also be noted that in 2019 we will witness a large number of new luxury apartment stocks entering the market. Leading players in this market, over the past ten years include ShangriLa, Altair, CT Properties, JKH, Ceylinco Homes International, Prime Lands, Home Lands, Capital Trust, Blue Ocean, Havelock City, Indo-Ocean Developers and Fairway Residencies and, more recently, The One (Ritz-Carlton) and ITC.
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