Luxury Catalina villas for retirement communities

Tuesday, 6 February 2018 00:00 - - {{hitsCtrl.values.hits}}

By Safna Malik

Granite Capital Ltd. recently announced the launch of upcoming development project Catalina Koggala, the first-ever luxury independent living community in Sri Lanka for senior citizens.

Granite Capitals formulated the new concept as Sri Lanka has limited options for retired clients with their demand for lower cost of living, reasonable real estate prices, tropical weather, and Sri Lankan culture.

The launch was attended by Granite Capital Ltd. Executive Director Neilan William, Granite Capital Ltd. Managing Director Jeevan William and Granite Capital Ltd. Chairman Brad West, shareholders and other officials.

Speaking at the launch Jeevan William said: “It’s not an old age home or a nursing home; we look for people who are active, healthy, interactive residents over 50 willing to live in a rural environment with city effect.”

The project comprises 22 villas on 5.75 acres of land surrounded by paddy fields near the Koggala Lake.

Williams stated the visa process for expats In Sri Lanka is complicated. “This is why we are not looking at targeting expats. We are targeting Sri Lankan dual citizens and also locals who are looking for a relaxed, peaceful environment to live with the like-minded.”

He said this small scale project is not under the Board of Investment (BOI), though they have plans to execute upcoming ventures under the BOI.

William noted that, 55% shareholders from Sri Lanka and 45% foreign shareholders from Australia, Singapore and the US have invested in the Catalina Koggala project.

The project is expected to be completed in July 2019 and targets a price range of $272,000– $325,000.

Catalina also offers a country club house, which includes activities such as music lessons, cookery classes, wine tastings, friendly quiz competitions, frequent guest speakers, library and regular movie evenings.

The club house provides a fully-equipped gym with qualified instructors and twenty-five meter lap pool for swimming.

Sports activities including tennis courts, jogging track and tasty and nutritious meals will be available at the country club house.

Granite Capital Chairman Brad West said: “This is a first for Sri Lanka but it is a fast growing market in North America, Europe, Australia, and selected countries in Asia.”

“We are eco-friendly, specifically each villa is designed with special net metering options with solar power,” he added.

-Pix by Gitika Talukdar

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