Spence’s gated N’ bo residencies project suspended

Aitken Spence Residencies’ 140 luxury villas named Heritage Grove, has been suspended indefinitely due to the proposed second runway at the Bandaranaike International Airport, the company has said.

This is owing to the Civil Aviation Authority of Sri Lanka and the Ministry of Megapolis and Western Development disallowing the continuation of the project, the company has announced on the Heritage Grove website.

“It is with regret that we inform you that the proposed Negombo project has been suspended indefinitely. We wish to convey that this is due to no fault and/or negligence and/oversight of Aitken Spence and C & T Investments (Pvt) Ltd as prior to commencement, all the necessary approvals, clearances and letters of no objection were obtained for the project from all the relevant authorities. We sincerely apologise for any inconvenience caused,” the web post said.

Strategically positioned just 45 minutes away from Colombo and a 20 minute drive from the airport the company had chosen Negombo as it is one of the most convenient locations around, an official told the Business Times. Aitken Spence partnered with two US investors of Sri Lankan origin for this project. The 30-acre coconut grove annexed to the coastal town of Negombo saw at least seven luxury villas sold while a number of inquiries have been received for the new 140 luxury villas at the Heritage Grove complex, the official added.

“It was equipped with the best of facilities for independent living. Amenities, including swimming pools, tennis court, gym, spa pavilion, library and an expansive clubhouse, amidst planned gardens and manicured lawns, we aimed to create the perfect dwelling place that encourages an active yet indulgent lifestyle for those who have moved away from the hectic nine to five,” he said.

The complex also planned to offer services such as 24-hour healthcare with doctors on call, 24-hour security with CCTV cameras, golf cart transportation within the community, shuttles to and from Colombo twice a day, along with villa options to choose from including those that come with their own private plunge pools.

The official added that during the last five years the real estate sector has boomed, but with high prices many buyers aren’t keen as these units don’t have resalable value. “So many buyers prefer units which they can rent for leisure, etc which are out of town. In that respect, it’s not a good situation.”