Kristall Spaces Lanka unveils 56-Unit Luxury Apartment Project on Sri Lanka’s ‘Golden Mile’

December, 17, 2025

56 BOI-approved luxury apartments now on the market by Dalawella Beach, Galle, priced from LKR 50 million+ (USD 162,615).
Projected investor returns of 13%–20% per annum, combining 5–10% expected capital growth with 8–10% rental income.

Kristall Spaces Lanka (Pvt) Ltd, an associate of the award-winning Austrian developer Kristall Group, has officially unveiled All-Suite Resort Talpe Heights. Situated along Sri Lanka's prestigious "Golden Mile" adjacent to Dalawella Beach, between Unawatuna and Talpe, this BOI-approved development comprises 56 luxury oceanfront condominiums. The project, launched in Colombo, Sri Lanka, offers investors premium residences with prices starting from LKR 50 million for a fully furnished one-bedroom apartment with parking.

Driven by a 16.7% year-on-year increase in tourism arrivals, the project addresses a surging demand for high-end serviced residences. The development features fully furnished 1-, 2- and 3-bedroom freehold apartments, each offering ocean views and fully equipped kitchens. Designed for the discerning global investor, the property features a private roof garden with a 25m sky pool, a landscaped garden pool anchored by an Italian bistro, and a signature restaurant with in-house spa facilities. Owners benefit from underground parking, 24-hour security, and concierge-style support. Post-completion, the asset will be managed by the developer’s Austrian associate, All-Suite Resorts, ensuring European operational standards. The company projects combined annual returns of 13–20% (capital appreciation and rental yield), and the investment structure is designed to facilitate eligibility for Sri Lanka’s 'Golden Paradise' long-term residence visas for qualified buyers

Backed by 25 years of development experience in the residential and hospitality sectors, and recognized as a market leader in apartment-hotel resorts in the Austrian Alps, Kristall Spaces’ expansion into Sri Lanka builds on two decades of successfully delivering high-end resorts in established European tourism markets. The company states that its entry strategy was informed by 18 months of local market observation and direct involvement as a property agent , which identified a growing demand for high-quality residential and hospitality investments with a strong focus on professional management.

Commenting on the launch, Simon Atterbury, CEO of Kristall Spaces Lanka (Pvt) Ltd, stated: “Our entry into Sri Lanka is guided by 25 years of experience delivering high-end real estate in competitive European tourism markets. We see strong, data-backed demand for professionally managed residential and hospitality investments, and Sri Lanka’s economic trajectory makes this the right moment to commit long-term. Our operator-backed model provides investors with security, professional maintenance, and a structured pathway to maximize rental income. We have deep respect for the local business environment, and All-Suite Resort Talpe Heights represents the first step in what we intend to be a sustained, multi-project presence in the country.”

The company confirmed that this is its second development in Sri Lanka, with a third luxury apartment project currently in the planning stages.

Outlining the group’s long-term vision, Atterbury concluded: “We have a defined 10-year development strategy and look forward to seeing where this journey takes us. Our goal is to support national tourism objectives by delivering additional bed capacity, while simultaneously providing property buyers and investors with a safe, lifestyle-oriented investment. As part of this vision, Kristall Spaces and All-Suite Resorts aim to develop and operate a pipeline of 5,000 beds.”

This ambitious roadmap is timed to coincide with renewed confidence in the Sri Lankan property sector, driven by strengthening macroeconomic indicators, rising diaspora interest, and a robust tourism rebound. By introducing the structured ownership models, professional facility management, and rental income mechanisms standard in European holiday markets, Kristall Spaces positions All-Suite Resort Talpe Heights as a secure vehicle to capitalize on this upward trend..