MTD Walkers Plc to launch first affordable housing project in Galle

Wednesday, 24 June 2015 00:00 - - {{hitsCtrl.values.hits}}

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Wincon Development Ceylon Ltd., a fully-owned subsidiary of MTD Walkers Plc, is set to launch ‘Richmond Hill Residencies’ its very first affordable housing project in Galle in July this year.

The project in Galle is also endorsed by both the Board of Investment in Sri Lanka and the Ministry of Public Administration, Local Government and Democratic Governance, and is due to be extended to all districts.

MTD Walkers Plc acquired Wincon Development earlier this year and inherited the company’s mandate for constructing approximately 25,000 homes under the Nila Sevana public servants housing project.

The company has already built over 1,000 affordable apartment units in the Galle District and will launch Phase I, comprising 512 units, with Richmond Hill Residencies. Although public sector employees are given preferred pricing, the homes will be available for the private sector as well with a unit price of Rs. 3.2 million upward.

Richmond Hill Residencies is situated approximately 3 km from Galle town and less than 1 km from the prestigious Richmond College. The 512 completed units are available in a three-bedroom 695 square foot variety or in a three-bedroom 776 square foot design. The project also offers landscaped gardens with play areas for children, spectacular views from the upper floors, proximity to public transport, hospitals, supermarkets and the world famous Galle Fort.

Commenting on the project, Wincon Development Ceylon Ltd. CEO Lalinda Kalubowila stated: “Affordable housing is an area where demand is increasing daily and it is not just limited to Colombo anymore. The other major cities on the island like Galle and Kandy, and even those in the North and East, are looking for affordable yet well-constructed and long-term investments. Sri Lanka has a large public sector employee network which makes it imperative that we as a company venturing into the construction industry take this segment’s needs into consideration. Richmond Hill Residencies aims to meet the aspirations of this segment of society.”

Richmond Hill Residencies is open for public viewing and sale on 2 July. There will also be a five-day outdoor activation campaign in key areas in and around the Galle town post-opening. The outdoor activation will feature a miniature model of the housing complex, model set-ups of the interiors and the chance to gather more information on the property.

MTD Walkers Plc, which has been in operation since 1854, is the seventh oldest company in Sri Lanka and is listed on the Colombo Stock Exchange. The company has been engaged in multidisciplinary engineering activities locally and overseas including in civil, marine, mechanical and electrical engineering work, pile construction, power generation, the manufacture of tea machinery for the plantation industry, building services and real estate.