Blue Ocean’s new condo breaks ground in Colombo

Blue Ocean Group of Companies, one of the largest condominium developers in the country, broke ground on Thursday for its new apartment complex in Colombo at 15A, Layards Road, Bambalapitiya.

However similar to the Blue Mountain launch of its mega condo complex opposite Majestic City a few weeks ago when President Maithripala Sirisena didn’t turn up though the chief guest, Prime Minister Ranil Wickremesinghe – invited for the event – did not turn up for the Blue Ocean ceremony. Speaker Karu Jayasuriya, another invitee, was also absent.

Only Finance Minister Ravi Karunanayake and some other officials were present. At the event, Blue Ocean Group Chairman Thumilan Sivarajah stated that the company has constructed 1100 condos more than nine towns within a couple of years. “We are geared to provide creative solutions to meet the global challenges which we believe will positively contribute to the global development agenda and ecosystem,” he added.

Saying that transparency is the fundamental for corporate good governance for sustainable development and economic progress, Mr. Thumilan said, “Our group of companies has evolved a strategy of inward remittances through attracting foreign clientele to invest in apartments,”

He also mentioned that the government has mooted positive and encouraging changes that would undoubtedly boost the property, construction and infrastructure sector of the country.

The company’s vision is to create a portfolio of exceptional buildings in great neighbourhoods to reside, work and enjoy life. The design and concept creates the space that inspire people and improve the quality of life. In Sri Lanka Blue Ocean Group present an attractive market to build a diversified balanced real estate portfolio and prospect for earnings and growth. “As the largest condo developers, we specialise in specific type of projects such as mid-rise, highrise, luxury or affordable and tend to cluster building together in master plan communities. We have also classified our condos as first, business and economy class,” Mr. Thumilan stressed.

The condominium at Layards Road will be built on a 45-perch land. It will be a first class 14- storied condo with 50 apartments. The price per apartment ranges from Rs. 35 to 60 million.