Ocean Breeze Hotel Residencies Hikka a gilt edged investment
Chairman, Global Housing and Real Estate [Pvt] Ltd., Dasun Wickramarathna, introduced his latest development, Ocean Breeze Hotel Residencies Hikka, a Rs. 6.5 Billion project, to an elite audience at the Victorian Room, Kingsbury recently.
Global Housing & Real Estate [Pvt] Ltd is a company that engages in condominium and real estate development activities in Sri Lanka and is a fully owned subsidiary of Global Leasing Limited (GLL) under the Global Group of Companies. The Company was incorporated in 2003 and at present counts for over 18 years’ experience in construction and real estate condominium development.
“This our latest project is a guaranteed, risk free, gilt edged investment and will be funded by our Group with private partnership and banking finance which is strategically segregated in various stages of the development to mitigate the risks involved, while our bankers are Bank of Ceylon, Sampath Bank , National Development Bank, Hatton National Bank and Commercial Bank”, said Chairman Wickramarathna, speaking at the launch.
“We hope to have the ground breaking ceremony in March this year, with project completion in 36 months. Strategically located with beach frontage in Hikkaduwa, Sri Lanka’s most happening coastal area, Ocean Breeze Hotel Residencies – Hikka is set to become a hotspot for the adventurous and free-spirited socialiser and business person who can easily cruse in from the highway for a weekend or longer, thanks to its convenient location close to the highway,” he also said.
A 70-metre beach front development, lined with cool cafes, refined restaurants, a chilled-out beach club, up market boutiques and a spa, it is in close proximity to all beach activities such as snorkeling, fun boards, jet ski and a turtle hatchery, while whale watching is just a mere 15 minutes by boat. This breath-taking integrated resort will define tourism and hospitality in the area and is geared to earn a minimum 30% to 40% capital gain. The project will also generate around 400 direct and indirect job opportunities in and around the area.
“Global Housing & Real Estate (Pvt) Ltd. has grown in stature over the years to become a force, having venturing into various categories and segments of the property development industry and we continuously strive ahead of our competitors in delivering products which are innovative and which add value for all our stakeholders.
Whether you are a seasoned investor or a first time buyer, we at Global Housing & Real Estate take time to understand exactly what your particular needs are and offer you the best solution, along with a wide range of products which are in our portfolio, whether it’s a traditional apartment, hotel residency or mixed development, with higher long term returns which are guaranteed to exceed your expectations. We have earned the trust and confidence of our clientele and are poised to take our place as a trusted name in the property development sector as well as the undoubted No1 Hotel Residency Developer in Sri Lanka,” he noted.
All construction is carried out by the construction arm of the group, MET Developers Holdings [Pvt] Ltd.
At present the Company has diversified its product portfolio with hotel residency developments in Negombo, Sigiriya and Nuwara Eliya, in addition to traditional condominium developments.
Ocean Breeze Hotel Residencies Hikka comprises 236 luxurious apartments, elegantly designed to blend and harmonise with the natural surroundings, as well as the surrounding cultural and traditional aspects, and is built according to stringent quality standards, and fitted with modern amenities to cater to even the most discerning client.
Ranging from 400 sqft Studio Units to 1721 sqft three bedroom Duplex Dual Key apartments over 22 floors, the apartments cater to all your needs and gives one an affordable hotel experience coupled with the advantage of owning a superior property on the famous Hikka beach. Prices range from Rs.13.5M to Rs.100M plus, with attractive interest free repayment schemes facilitated by leading banks in the country to be paid in 36 months.
“Investors could enjoy value added services of generating long term revenue generation by renting, as we offer management of property, thus making it a hassle free investment,” he also noted.
Designed by Anushka Dassanayake, who is the project architect, investors could avail themselves of an apartment by merely paying a reservation fee of Rs. 500,000/- and a 10% down payment.
ETM Leisure Ltd, a fully owned subsidiary of Global Leasing Ltd has been set up to manage the property and generate revenue on the longer run, making it a hassle free one stop shop for investment.
With regards to training, Chairman Wickramarathna said, “I believe in the long term retention of employees, hence we recruit them young and train them on the job to gain experience and exposure under our skilled senior staff”.
Global Housing and Real Estate [Pvt] Ltd caters to the style-conscious traveler in some of the most sought-after destinations in Sri Lanka whilst generating revenue and value for its investors and owners. “We also intend expanding to Ella and Trincomalee as with the development of the highway network, it makes it worthwhile to interconnect all our properties which are within minutes of the highways”.
Ocean Breeze residencies in Negombo and The Kingdom in Sigiriya too will commence commercial operations this year.
“Despite Covid, the Global Group has confidence in the country’s economy and it’s resilience and we will continue our focus on the country ’s development,” said Mr. Wickramarathna.
Board of directors: M. D. D. P. Wickramarathna – Chairman/ Managing Director, Mrs. Wickramarathna – Director.
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