Two Trillium eco-friendly luxury hotels soon in Maharagama, Kahathuduwa

Trillium Property Management and Services, as part of the company's diversification programme, is planning to get into the leisure sector with the boom in the tourism sector and the prospects of two million tourists in 2016.

This was stated by company chairman Janaka Ratnayake during a media briefing held at the Trillium Tower Office complex at Kirulapone, Colombo 6 following the opening of its new office complex.

He said the company plans to build a hotel in Colombo 7 next year to coincide with the Europe's summer season. "We also intend in adding two more luxury resorts at Maharagama and Kahathuduwa based on agricultural eco -friendly tourism concept adopted in Bali -Indonesia. These luxury hotel projects will cost us Rs. 600 million and we have the money to build them.”

Mr. Ratnayake, who had a brush with the law during the Ceylinco crisis, said although the Colombo Stock Market wasn’t bullish the company plans to go in for an IPO next year to raise Rs. 1 billion. "We are satisfied with the growth of the country and my plan is to make this entity worth several billions of rupees." He said the Trillium Property Management and Services was focused on building a brand image of the company."We have the largest condominium apartment complex in Colombo 8 and that was part of the collapsed Ceylinco Group property. Unlike other property developers we strive to provide our clients with a quality product for them to make a decent living and to live happily.”

He said it was a misconception that condominiums were getting overcrowded. There are many apartments being built at present. A survey done by the company had revealed that 7500 condominium room capacity will be needed in the next five years. "We want to cater to a niche market to capture its market segment."

However he cautioned condominiums buyers not to fall prey to those who promise everything except the moon and stars. People today spend around Rs. 40-100 million to buy a condominium and if they make a wrong choice they will lose their lifelong savings. One has to look into the history of property developers to ensure safety.

He said the Villa project they built at Melder Place, Nugegoda was sold at around Rs. 25-30 million but within a year those who brought it had sold it for Rs. 50 million and more. "The apartment we built at Colombo 7 was sold at Rs. 35 million. But today it is worth more than Rs. 60 million." He said the company's aim is to sell 20- 25 apartments every year.

He said the new Trillium Tower ultra-modern Head Office complex was built over a period of 10 months to house the expanding business operations of the company. "I have gone into the real estate sector following the Ceylinco fiasco that began to unfold in 2008-2009."

He said he ventured into computer business 25 years ago and later got into property business with the Ceylinco Group of Companies. He said the Trillium Property Management and Services (Pvt) Ltd established in 2012 became a multimillion rupee entity in less than five years due to the untiring efforts of professionals and the disciplined work force. "Although professionals were involved in designing structural and architectural part of it, everything else was done by skilled and unskilled labour force. The beautiful apartment complexes and the Villa projects built during the last 2-3 years were done by them." He said the company is now worth more than Rs. 3 billion and plans further expansion.