Crystal Sands set to enter Sri Lanka’s property market in luxurious fashion

Thursday, 6 December 2018 01:08 - - {{hitsCtrl.values.hits}}

Dr Dinuk Jayasuriya, Reza Magdon-Ismail, Kumar Sangakkara and Brett Negus

Kumar Sangakkara partners exclusive beachfront apartment development near Galle as a significant shareholder and Board member of Crystal Sands

Crystal Sands is set to enter Sri Lanka’s property market in luxurious fashion. The exclusive condominiums are situated on a stretch of tranquil beach in-between two of Sri Lanka’s hottest tourist destinations – Hikkaduwa and Galle. With just 25 luxury apartments on offer, Crystal Sands will be Sri Lanka’s first boutique beachfront apartment complex.

Crystal Sands sees Kumar Sangakkara involved as a Director and significant shareholder of the beachside project.Other members of the leadership team include Reza Magdon-Ismail, Sri Lankan-Australian national Dr. Dinuk Jayasuriya, Brett Negus and Omar Mizran.

Speaking of the project, company Director and CEO Reza Magdon-Ismail said, “We are excited to announce a project that fills a gap in the country’s luxury condominium landscape, thanks to its unique location and concept. We will be the first tourism-related development in Sri Lanka to offer owners a truly flexible investment – you’ll be able to live in your apartment full-time, or earn strong returns through eithera Flexible Program or a Rental GuaranteeProgram.For those selecting the Flexible Program, KPMG have audited our numbers and expect average USD returns of between 6% and 9% net per annum. Alternatively, lease back your apartment to us and we’ll guarantee a 6% net USD return for five years.Importantly, Kumar and the Board will ourselves hold apartments in Crystal Sands, demonstrating our long-term commitment to the project.”

The 25 exclusive beachfront residences,available as two and three-bedroom apartments off-the-plan, start from just USD 240,000.

Unique to Crystal Sands, each apartment will have its own plunge pool and deliver unobstructed views over the Indian Ocean. Additionally, the main living, dining and master bedroom can be cordoned off from other bedrooms – enablingyou to live in part of your apartment while alsohaving a completely separate area of your apartment rented out to the tourist market.

The high-end resident facilities also include a roof-top infinity pool, state-of-the-art fitness centre, a dedicated 24-hour concierge service, roof-top bar and restaurant, housekeeping, room service, restricted access security systems, undercover parking facilities, and even an outdoor kids’ play area.

The project will launch to the market this week with construction expected to start in the second quarter of 2019. For more information email [email protected], call +94 (0) 77 229 2202 or visit www.crystalsands.lk.