Daily Mirror (Sri Lanka)

US $ 500mn ‘The One’ to redefine urban regenerati­on in Colombo

-

he One’, an ambitious property developmen­t project with a price tag of US $ 500 million in the heart of Colombo, is hoping to bring back its former glory to the Colombo Fort area.

The One will comprise of two super luxury hotels with 473 keys, a luxury retail mall, a commercial complex and 638 beautifull­y crafted apartments located on 4.3 acres of prime real estate.

Addressing a media gathering this week, which also marked the launch of The One’s website, The One stakeholde­r Alex Lovell said that the demand for The One was unpreceden­ted.

“Even prior to the launch, the Ritz Carlton residentia­l units have sparked phenomenal interest both locally and internatio­nally. Phase 1 is already sold out, while Phase 2 has had several pre bookings. This is extremely encouragin­g not just for us as developers but for the Sri Lankan economy as a whole.” Constructi­on of The One commenced in September 2017 and Phase 1 is due to be completed in December 2021. The apartments will range from 1700 square feet – 4000 square feet, comprising two to four bedrooms, with a square foot being priced at US $ 450 upwards.

The architect of the project is the CCDI Group who has an outstandin­g history offering integrated profession­al services for urban regenerati­on developmen­ts.

Their most notable project is the Beijing National Aquatic Centre.

The Constructi­on, management and marketing of The One is handled by the Zhongtian Constructi­on Group, under the guidance of the Marriot.

The Zhongtian Constructi­on Group, which is one of the stakeholde­rs of The One, is a US $ 10 billion private constructi­on group that integrates civil constructi­on, real estate, property developmen­t, media, investment and education and is among the 50 top private enterprise­s in China. With The One in full glory, the 200-yearold heritage site, The Transworks House, will be creatively reimagined as an internatio­nal designer collective featuring some of the world’s leading brands.

“As one of South Asia’s tallest buildings, The One is waiting to transform your way of life and it is our intention to make The One a landmark destinatio­n in Sri Lanka and the region,” said Lovell.

 ??  ?? From left: The One stakeholde­rs Alex Lovell, Jaideep Wahi, Sam Hu and Steven Song from Zhongtian Constructi­on PIC BY DAMITH WICKRAMASI­NGHE
From left: The One stakeholde­rs Alex Lovell, Jaideep Wahi, Sam Hu and Steven Song from Zhongtian Constructi­on PIC BY DAMITH WICKRAMASI­NGHE
 ??  ??
 ??  ??

Newspapers in English

Newspapers from Sri Lanka