Tuesday Nov 05, 2024
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Tuesday Nov 05, 2024
Thursday, 11 June 2020 00:00 - - {{hitsCtrl.values.hits}}
Prime Grand, the flagship luxury project of Prime Group, the leading real estate developer of Sri Lanka, has resumed its operations in accordance to #RestartSL protocols announced by the Government.
Prime Group which stands strong in their contribution towards the economic regeneration in the country, celebrated a key milestone of ‘Prime Grand,’ the award winning project crowned the Best Luxury Condo development in Sri Lanka in 2019 by Asia Property Guru Awards.
Just a few days prior to the curfew, the group held the topping off ceremony on 11 March which marked the completion of the super structure celebrating the final cement pour. The ceremony was attended by key stake holders of the project including the Prime Group Chairman Brahmanage Premalal, Co-Chairperson Sandamini Perera, MAGA Engineering Chairman Capt. M.G. Kularatne, DG5 Chairman Suranjith De Silva, CSEC Managing Director Shiromal Fernando, VForm Consultants Managing Director Lalith Rathnayake and other key individuals.
Prime Grand boasting 37 storeys rising 160 metres into the sky is the first and only high rise in the prestigious Colombo 7, host to Sri Lanka’s longest elevated infinity pool.
“Celebrating the topping off of Colombo 07’s tallest skyscraper signalled that we are in the forefront of driving the Sri Lankan real estate industry towards new heights that leverages on high end luxury,” said Premalal.
“Prime Grand will be in a class of its own bearing the country’s most prestigious address, with the finest finishes and luxury amenities. As the first and only high-rise in Colombo 07, our residencies are specially designed for utmost privacy and will have uninterrupted views over the city. Therefore I am positive that this project would be one of those key construction projects that would flourish with the influx of post COVID-19 investments, in the new Sri Lanka we are building. The interest for this development had not decreased despite the COVID-19 pandemic and we have continued to receive positive inquiries about the project throughout.”
Prime Group along with the construction giant MAGA Engineering has ensured all preventative health measures are followed through and safety of all the stakeholders on site and off site is well maintained.
Prime Grand’s resumed construction is evidence to the Group’s ability to comply with the needs of the economy at its moments of need. Now more than ever there is a need for local companies to come forward to ascertain the local economic boom, the real estate industry has the potential of becoming a key denominator in foreign currency influx as well as strengthening local trade.
“We are also proud to be the first and only real estate company to receive an A- (Stable) credit rating, for the first time in the history of Sri Lanka’s real estate sector. The rating provides transparency towards our financial stability, assuring our clients a safe haven for their valued investments with us,” added Premalal.
Prime Group, which built its footprint in the real estate industry as a fully Sri Lankan brand, celebrates its 25th anniversary this year as the first and only developer to obtain an exclusive credit rating A- (Stable) from ICRA Lanka, a group company of Moody’s Investors service. The rating solidifies Prime’s ability to stand strong and firm in their financial strength and credibility against the upheavals of the COVID-19 crisis and cater to the local real estate market ever so strongly, while securing investments of their patrons.
The Group has initiated dialogues which would bring back investments of Sri Lankan expatriates in to the country, through investing into a valuable property such as Prime Grand, and even the bank and financial sector have already offered favourable interest rates, which inadvertently has the potential of attracting a high demand for interested buyers to invest in a property that would continue to have upscale property value, in the foreseeable future.
Prime Group itself is renowned for its market presence for twenty-five years catering to all segments in real estate. Throughout its journey, the group has developed over 4,000 land and housing projects and completed 36 projects out of its 43 condominium portfolio. The company has continuously proven its ability to sustain despite formidable economic and social chaos in the past.
At present the group’s real estate projects span across 17 districts in Sri Lanka and has won numerous accolades for its expertise in the real estate sector as one of ‘Asia’s Top 100 brands’ and winning the Best Developer in Sri Lanka title for the past 2 years by Asia Property Guru Awards. As such, the Group has the experience, expertise and financial stability that can stand the strains and challenges inflicted by the pandemic.
