Sanken Group’s Capitol Developers signs landmark deal with Janashakthi

Capitol Developers Limited of the Sanken Group has concluded the purchase of the strategically located land parcel from Janashakthi Insurance at 24 Staple Street, Colombo 2, for the development of a 500 apartment twin tower in a landmark deal.

Construction on the ultra-modern twin tower real estate development project, named Capitol Twin Peaks, is expected to begin soon, with apartments ready for occupation by 2020. The project is tipped to be the most centrally located and high profile luxury real estate project. The proposed project will be a compelling landmark in Sri Lanka’s real estate market and will reflect best practices and sustainable features that will render it a model luxury development to grace Colombo’s skyline.

Capitol Developers Chairman Mahen Weerasekara said: “Capitol Twin Peaks will trail-blaze its presence in Sri Lanka for being an iconic project that sets new benchmarks in luxury lifestyles. Capitol Twin Peaks meets the demands being set for urban, aspirational living in a rapidly developing economy. We have established our credentials as a reliable and high quality developer and we will bring our most skilled expertise to bear on this project. A project such as Capitol Twin Peaks sends a clear signal to the rest of the world that Sri Lanka is open for business and is undoubtedly a compelling investment destination.”

Tipped to be one of Colombo’s most central apartment blocks, it is located in the heart of the city in an elite neighbourhood, with proximity to prestigious shopping malls and other conveniences, in addition to a beautiful entry point with the lake frontage of Beira Lake. This development meets the demands of the vibrant and expanding city of Colombo and supports the Government’s plans to build a Megapolis encompassing much of the Western Province.

Capitol Developers, the property development arm of the Sanken Group, has successfully completed Capitol Residencies in Dharmapala Mawatha, Colombo 7; HR Residencies on Havelock Road, Colombo 05; Tulasi Mahal Apartments in Jaffna; Business City hotel, Cinnamon Red in Colombo 3, Capitol 7 in Rosmead Place, Colombo 7 and Capitol Elite in Horton Place, Colombo 7. 

The new project “Capitol Twin Peaks” will feature a winning combination of partners making it one of Sri Lanka’s best investment options amongst the high-rise apartment developments available for sale. Sanken, the contractor who has an impeccable track record for changing the skyline of Colombo, together with the award-winning, global design firm P&T Architects of Singapore and Capitol Developers who have a very trustworthy record of being behind so many excellent projects and have an A-grade client base already with them, will ensure the investment made will have a timely delivery just like all their other projects.