Ocean Front Condos by ICC a foreign investor’s route to SL’s booming real estate

Wednesday, 19 June 2019 00:00 - - {{hitsCtrl.values.hits}}

Sri Lanka is moving full steam ahead in promoting its economic status to the next level, and with that opening up are a plethora of opportunities to be a part of its growth story.

Easing up controls and paving the way for development, the stage has been set for both, locals and foreigners, to invest in the fast progressing island nation. Sri Lanka’s urbanization expected to amplify from 0.3 to 3-4% in the next 15 years, coupled with uplifting of the hard infrastructure, which includes a more structured road network, has made the real estate space an attractive avenue for investing in the country.

While most countries have restrictions in place for the ownership of properties by foreign investors, Sri Lanka has successfully moved past that stance and has paved the way to accommodate foreign participation in the budding real estate landscape.

While preserving the rich history and unique architecture brought about by the Dutch era, the picturesque city of Galle continues to receive a facelift, bringing in modernized infrastructure.

With limited availability luxury condominium development in Galle, fast moving apartments are largely from the Oceanfront Condo, Galle, which is developed by the strongly reputed International Construction Consortium (ICC).

Tastefully architected to depict the fortress, the Dutch design inspired property that will reach completion in 2020, is the first of its kind in the city. The serviced apartment property is nestled by the sea giving the true feel of luxury living in the tropics.

The Oceanfront Condo, Galle, a Rs.4 billion project, comprise of 15 floors, housing 101 units which includes penthouses and apartments with rooms ranging from one to three.Investor friendly is also the ICC taking on the responsibility to manage the rental of the apartments, ensuring they are filled throughout, ensuring speedy returns. The ICC would also manage the sales of the apartment units on behalf of the owner, should the investor decide to liquidize the asset.