Keonn signs BOI deal to invest $ 4.9 m to put up 121 Residencies

Friday, 7 April 2023 00:15 - - {{hitsCtrl.values.hits}}

Keonn Investments Ltd., has recently entered into an agreement with the Board of Investment of Sri Lanka for its new business venture 121 Residencies with an investment of $ 4.9 million for a high-quality designed apartment complex in, Colombo.

This Apartment complex will be constructed at No. 121, Jawatte Road, Colombo 05. The 121 Residencies will consist of 36 exclusive 3 Bedroom Apartments with a basement, ground, a mezzanine, and 9 floors that will provide multiple conveniences and be close to leading schools, hospitals, restaurants, and financial institutions.

Issuing a statement, the BOI said post-IMF scenario may have a positive impact on a better business ecosystem in the country and it is evident that the real estate and construction industry already show signs of acceleration.

The 121 Residencies optimises the use of natural light in all living areas creating a natural openness, enhanced further by the use of materials of light shades of colour. All living spaces are designed to have natural ventilation and sunlight.

The property boasts several unique features, including the features of a CCTV System covering the car parks, lobbies, and all common areas of the building. 121 Residencies will be in safe hands with the introduction of the Access Control System.

For safety, all visitors will be screened. Residents can relax on the rooftop leisure area which features a swimming pool and plush entertainment facilities with a state-of-the-art gymnasium located on the mezzanine and a reception area on the ground floor.

With the host of Condominium projects popping up across the Central business district, this limited number of units from 121 Residencies will elicit a sense of privacy, security, and exclusivity.

The newfound real estate sector acceleration will be a catalyst for FDI investors to relocate to Sri Lanka with an international-level quality standards lifestyle.

Property development of this nature further enhances Sri Lanka’s image and creates a much-needed ecosystem and facilitates ease of doing business.