AVIC Astoria launches Tower 1–Optimistic about development prospects of Sri Lanka

“We have great confidence in the success of this massive development, not only because Sri Lanka is a great tourist destination with beautiful scenery, but for a fact that it is evolving into a well-established destination with more flexibility and beneficial policies for investors.” These were the words directed fromMr. LIU Hongguang, the Deputy Manager of CATIC ENG Head office and General Manager of CATIC ENG in Sri Lanka. 

He conducteda speech during the Astoria Christmas Event which took place on 21stDecember,2016 at the Kingsbury Hotel in Colombo and acknowledged the support and encouragement that the AVIC Astoria condominium project has garnered from local and foreign investors and prospective home owners over the past few years.

The Christmas event also proved as the perfect timing to launch AVIC Astoria’s Tower 1, which is one fourth of the much anticipated4 towers that are scheduled to be completed towards the end of 2017. All 4 towers combined will actualize with 608 apartments. During his speech, Mr. Hongguang expressed his heartfelt gratitude to the guests and distinguished invitees who were present at the event. 

Mr. Hongguangtoted the Sri Lanka Government’s recent budget statement and emphasized on the statement with regards to investing in the real estate sector in Sri Lanka and acknowledged the government’s stance in taking relevant steps in encouraging foreign investors to come forward and consider the property market. “We believe this is going to be a splendid era for investors and because of this, we had decided to launch Tower 1 of our project simultaneously to coincide with this great timing,” Mr. Hongguanghas added. 

Chief Representative of CATIC Sri Lanka Mr. ZhuangLizhou was also present at the event and presented a speech during the course of the launch event. He reiterated about the fact that even though the government had changed two years ago and the current course of the country’s economy might have slightly shifted, this has not affected the country’s growth trajectory. “I have a positive perception about Sri Lanka. Peoplefrom all around the world are seeking out better lifestyles. Mytitillation is that people in Sri Lanka aspire strongly to achieve a better lifestyle.”

Commenting about the real estate sector in China and the housing price escalations there, Mr. Zhuang explained that in cities such as Beijing, the price of real estate grows by 20% every year. “In Sri Lanka, and especially in Colombo, which areas do you believe will turn out to be real estate hotspots?” he asked from the guests. His view declared that the area of Colombo would only attract more demand considering that the central points of the city is home to an abundant array of renowned schools, shopping outlets, offices and businesses and a host of other significantly relevant places.

Mr. Zhuang further commented, “Astoria is located in close proximity to a good number of significant capital landmarks. Luckily our price has not reached its peak and I strongly suggest you to take this opportunity. We have noticed that youth population structure here is showing a majority of the younger generation moving forward very swiftlyand that the marriage percentage is also climbinghigher. In the city area there is bound to be more demand for living space with this growing trend.”

The event was graced by over 250 patrons and investors where some of them had even flown from miles away just to be present for the unveiling of Tower 1. To the gratification of all who were present, Mr. Hongguang offered the opportunity of obtaining a discounted price for all who registered in the hope of obtaining their own future home at the Astoria. The evening’s proceedings also included a raffle draw which included prestigious gifts such as Business Class Return trips to Singapore and the Maldives to name a few. Musical performances were provided by famed band The Gypsies.

For further information on the high-risingAVIC Astoria, drop by at their office: AVIC International Hotels Lanka Limited, No. 9, Deal Place, Colombo 03 or visit the website: www.astoria.lk