manusath-derana

Major Banks come forward to promote first Luxury Apartment development in Kandy – Dynasty Residence

August, 8, 2015

Kandy the last hill capital of Sri Lanka is transforming into the next best investment destination in the country. The highly anticipated Colombo-Kandy Expressway commenced last week with an ambitious target set by the Prime Minister to be completed by the end of 2017. Travel time from Colombo to Kandy will be reduced from a grueling journey of four hours to less than one hour.  Being the second largest city in the island, Kandy is now under the spot light of the Government for infrastructure developments and city beautification. The Colombo-Kandy expressway will definitely have a greater impact for attracting investments to create further economic growth and increase the property values. The World Bank is also funding Kandy under the ‘Strategic Cities Development Project in Sri Lanka’ to develop a more and better competitive, environmentally sustainable and a well linked city. 

Developers of Dynasty Residence, GVR Lanka (Pvt.) Ltd funded by the Serendib Investment Group from USA has foreseen these development opportunities and pioneered the first ever integrated development project in Kandy with a Luxury Condominium and a Star Class Hotel. Dynasty Residence, the 19-storey masterpiece ideally located minutes away from the proposed Colombo-Kandy Expressway exit. Also, the location is blessed with multiple access routes, which can be used to bypass the congested areas and reach the outskirts of the city during traffic hours.

Showcasing strong support for this project, several major local banks including Sampath Bank PLC, Hatton National Bank PLC and National Development Bank PLC have entered into tripartite agreements with GVR Lanka, to provide home loan facilities for this development at very attractive interest rates. These banks are also promoting this development as a possible investment for their High Net worth clients. Soon other major banks are expected to be on board.

Dynasty Residence is designed to accommodate a wide audience of demanding clientele, whether they are looking for their dream home, a home away from home, a peaceful and fulfilled retirement or even a great investment opportunity.

The apartments overlooking the breathtaking scenery of the lush hill capital and the Majestic Mahaweli River, offers a new era of luxurious and serene living brought about by world class architectural designs, engineering and construction excellence. The developers are committed to protecting the environment and this will be the first residential apartment project designed in Sri Lanka under the US Green building Council’s LEED rating system. Under this system the apartment is designed for energy & water efficiency and natural ventilation thought out the building.

Dynasty Residence is equipped with all the necessary amenities and comprises of 93 units configured in to 24 single bedroom, 23 two – bedroom, 25 three – bedroom, 12 four – bedroom, 5 four – bedroom duplex SKY villas and 4 exquisite penthouse suites with their own private sky gardens including golf putting and an entertainment area. Dynasty Residence is the only apartment complex in Sri Lanka to offer 42% of the total floor area specifically dedicated for an elegant lifestyle experience with a rooftop jogging track and a healing/reading garden, swimming pool and kiddies’ pool, gymnasium, multi-function room, game room, medical facility, mini-market and Café, outdoor BBQ area and a 24 hour security system.

Recently, the Kandy Municipal Council officially authorized GVR Lanka to develop and maintain the river front property, complementing the value of the development. This is a CSR effort by GVR Lanka (Pvt.) Ltd.

Commenting on the latest status of the project, Mr. Mahasen Samaravijaya - Founder and Chairman of GVR Lanka (Pvt.) Ltd stated that “our Design Build Construction partner, Sanken Construction is committed to delivering a high quality product in a record breaking completion time of 22 months and well within the planned construction budget. This project would not have been possible without the support and dedication from all our consultants; Architecture & Interiors - RDC Architects (Pte) Singapore in collaboration with Surath Wickramasinghe Associates. QS Consultants, Engineer in the contract and Project Management - Davis Langdon KPK, Singapore (A subsidiary of AECOM Company). Green Building Consultant - Green Technologies FZCO in Dubai. Structural Engineering Consultant - Mr. Vasantha Ratnayake. MEP Consultants - KE Engineering Consultants and EIA Consultant - Mr. Hemantha Jayasundara”.

About GVR Lanka (Pvt.) Ltd.: GVR Lanka (Pvt.) Ltd is a BOI-approved real estate development company registered in Sri Lanka founded by two Sri Lankan-born, US-based entrepreneurs, Mohan Chandramohan and Mahasen Samaravijaya.  The company is based at the IBM Building, Navam Mawatha, Colombo 02