Kingsbury signs Management Agreement with Platinum Realty

The exchange of the agreements between Kingsbury PLC Chairman Mohan Pandithage and Platinum Realty Investments Ltd. Chairman Subba Rao Dukkipati. From left: Platinum Realty Director Chiranjeeva Samarawickrama, Platinum Realty Managing Director Kishore Reddy, Platinum Realty Director Gaurav Swarup, Platinum Realty Chairman Subba Rao Dukkipati, Kingsbury PLC Chairman Mohan Pandithage, Kingsbury PLC Managing Director Lalin Samarawickrama, Hayleys Head Strategic Business Development Manohari Abeyesekera, Hayleys PLC Head – Group Legal Darshi Talpahewa and Hayleys PLC Group Legal Suguna Sridevan

The Kingsbury PLC, the luxury five star city hotel in Colombo, signed a Management Agreement with Platinum Realty Investments Ltd. to manage its Platinum 1 apartment complex.

Platinum 1 is a 20 storey apartment complex located at No.1, Bagatalle Road, Colombo 3, comprising 66 apartments plus four penthouses. The complex would have other residential amenities on the fourth floor – with a swimming pool, spa, gym, and restaurants.

The property would be branded as ‘Platinum 1 by Kingsbury,’ on the theme of ‘promise of luxury,’ catering to the growing demand for luxury serviced apartments in the city of Colombo.

The Management Agreement would come into effect from 1 April 2016 for a period of 10 years.

The Kingsbury PLC comes under the umbrella of the diversified blue chip conglomerate Hayleys Group.