Fracspace, the global real estate and lifestyle development platform known for its disciplined, experience-driven approach to property creation, has formally announced its strategic entry into Sri Lanka through Altaira—its flagship international development and a considered step in the company’s global expansion journey. Recognised by Forbes India DGEMS 2024 as one of the top 100 fastest-growing companies globally, the company is investing LKR 5 billion (USD 15 million) in the initiative, demonstrating the scope and depth of its plan to expand internationally.

Altaira is more than just a typical real estate project; it represents Fracspace's long-term dedication to developing destination assets that combine modern living, design, hospitality, and nature. Altaira, a low-density, elevation-led development, has the potential to completely change how luxury, lifestyle, and long-term value are viewed in developing global destinations.

Altaira is set across 26 acres in the mist-covered hills of Bulathkohupitiya, Sri Lanka, at an elevation of approximately 2,000 feet above sea level. The integrated development comprises a five-acre luxury hill resort, 24 ridge suites, and 40 exclusive fully serviced private villas, each designed to maximise valley views while maintaining privacy, openness, and harmony with the natural landscape.

Rather than being an opportunistic move, Fracspace's entry into Sri Lanka is intentional. The expansion is a reflection of the perception that the island is at a turning point, moving from being predominantly seen as a tourist destination to becoming a legitimate location for global capital deployment and lifestyle-led investment. Sri Lanka provides the prerequisites for a new kind of place-making based on restraint, responsibility, and enduring relevance because of its natural terrain, climate, and increasing international significance.

Altaira has been conceptualized around the idea of "Above the Clouds"—not just as a geographical concept, but also as a metaphor for understanding, vision, and intentional growth. The project positions itself as a thoughtful alternative to the increasingly crowded global luxury markets by prioritizing openness over density, experience over excess, and long-term value over short-term returns.

Designed as a low-impact, experience-led destination, Altaira integrates curated natural and wellness-driven elements, including tea valley walks, rainforest trails, cloud decks, riverside onsen experiences, and an infinity pool overlooking the valley. The development also features a farm-to-table restaurant, open-air café spaces, and leisure zones that are intentionally woven into the terrain rather than imposed upon it.

Unnath Reddy, Founder, Fracspace, said, “This has nothing to do with speed or scale. Altaira is the start of a new chapter for Fracspace, one in which we grow with patience, purpose, and a strong sense of place-based responsibility. We were particularly struck by Sri Lanka's geographic alignment with our destination-led development strategy. Altaira is designed to last rather than to be sold quickly.”

The announcement highlights Fracspace's intention to establish trust through transparency and measured communication rather than marketing-driven narratives. It also precedes the company's larger public-facing launch and future investor and partner engagements. The project strengthens Fracspace's reputation for execution-backed development rather than conceptual ambition because it is land-secured, location-driven, and grounded in on-site reality.

Sustainability at Altaira is embedded through planning and density decisions rather than superficial interventions. The project prioritises low-density construction, terrain-sensitive design, natural ventilation, and landscape-led circulation, allowing the built form to coexist with existing ecosystems. Residences are conceived as fully integrated, resort-serviced smart homes, balancing modern convenience with environmental sensitivity and long-term operational efficiency.

Danuna Tillakaratne, Director – Fracspace Ceylon (Pvt) Ltd, noted that Altaira reflects a thoughtful integration of global standards with local context. “Before defining the architecture or the experience, we focused on understanding the land, the elevation, and the rhythm of the surroundings. Altaira is developing into a place that offers a globally recognized lifestyle while honoring its surroundings in line with Sri Lanka's new Government's efforts in uplifting the country's tourism sector.”

Instead of presenting Altaira as a transactional opportunity, Fracspace presents the development as an introduction to a more comprehensive philosophy that appeals to global audiences, discerning investors, second-home seekers, and long-term partners who prioritize place-making, legacy, and enduring quality over immediacy.

Together, these elements position Altaira not as a conventional mixed-use development, but as a carefully calibrated destination—one where hospitality, private living, wellness, and nature are unified into a single, enduring ecosystem.

With Altaira, Fracspace expresses not just its confidence in Sri Lanka's future but also its own development—from a local innovator to a globally-minded developer growing with focus and discipline.