Real Estate : Over PRs. 20 billion would be invested Now 2024
Investments in Port City are planned after restrictions are “more clear.
In 2024, Prime Group plans to invest more than Rs. 20 billion to start two real estate projects in Dubai And Kiribathgoda
- Co-Chairperson of Prime Group Tandamine Pereira stated, “We are building a 45-key apartment complex in Dubai for the first time and have received clearance for it.
- (SHOWN) She stated that work would start this year and be finished in eighteen months.
We plan to invest approximately 50 million UAE dirhams in this project
- Speaking about the newest project, YOLO, Sri Lanka’s First Ever Modern Home Apartment City, she stated that approximately Rs.
- 15 billion is being invested in this 13-acre project in Kiribathgoda, making it the largest real estate development project in Sri Lanka since the financial crisis.
- Additionally, YOLO will create 2,000 new job possibilities. She further said that of the 476 magnificent apartments, with prices starting at Rs. 21 million and going up, 100 units have already been sold.
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- According to her, the project includes a number of “firsts” for the Sri Lankan real estate industry, including an infinity swimming pool, keyless entry, lush gardens, a gym and CrossFit center, a single bounce peddle court, a mini-mart, and many other amenities.
- We also provide a nightlife experience in an elevated lounge with an inventive outdoor theater design, a cosy fire pit, and limitless moonlit conversations.
- With its redesigned interest-free Prime 1% monthly instalment payment plan, YOLO is redefining house ownership and lowering the risk for investors and first-time purchasers alike.
Significant profits are anticipated for investors, possibly tripling their initial investment.
In many ways, YOLO marks a critical turning point. It’s a huge accomplishment for the whole Sri Lankan real estate market in addition to being a step forward for Prime Group, she added.
As all of the constructed units have been sold, Group Chairman Brahman age Premeal (PICTURED) stated that the demand for real estate has increased.
We’ll also be keeping an eye out for chances in the port city of Colombo. But, since we want the regulations to be more explicit, it is too soon to commit.
Buyers suffered greatly as a result of the builders of some of the new apartment complexes folding up due to the economic downturn.
As a result, investors increasingly choose to fund businesses similar to ours, which have over 29 years of experience and have finished 42 projects to far.
“We are also involved in the Australian real estate market.”
Additionally, he stated that the construction costs have finally decreased and that real estate investing is now more profitable due to the reduction of power rates and the low interest rates offered on fixed deposits.
According to him, their idea of allowing individuals to own flats and rent them out while they are employed abroad is quickly gaining traction, and as a result, their beachfront properties in Tangalle and Negombo are in great demand.
He added that many are now choosing to relocate outside of Colombo and make investments in locations just outside of the city due to the high cost of land.
With over forty apartment developments situated in Colombo and the surrounding areas, as well as thirty separate housing projects and land projects dispersed around the nation, Prime Group is Sri Lanka’s most awarded real estate company.
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