447 Luna Tower – Transforming the Colombo skylineOctober 13, 2020
Soon to be completed luxury condominium ‘447 Luna Tower’, offering impeccable value to those seeking to purchase real estate in Colombo, has recommenced construction as of 18th May 2020 adhering to the guidelines issued by Ministry of Health & other government institutions. Therefore, strict hygiene protocols have been implemented within the site that includes special provisions for safety equipment, body temperature checks, regular sanitizing procedures, dedicated lifts for visitors etc.
Commenting further, Sandun Hettige Jt. Group COO Asia Capital PLC said, “We strongly believe that it is our role and responsibility at this difficult time to achieve development progress while ensuring the safety of everyone involved. In this regard, we have controlled the level of activity with sensible compromise on the number of workers within the site for the moment. Rest assured, we are taking all possible mitigation actions to regain for the lost time.”
Having commenced construction in the fourth quarter of 2016, 447 Luna Tower is located in the heart of Colombo at Union Place and offers investors an affordable yet unique value proposition through a 44-storey architectural masterpiece accommodating 202 spacious apartments. This development is perfectly positioned to offer its clients the convenience of living in the heart of the city, with easy access to workplaces, leading supermarkets, banks, and schools.
With a total investment of approximately USD 50 million, the project is fully funded by the Japanese conglomerate Belluna Co. Ltd along with the local partner Asia Capital PLC. 447 Luna Tower is Belluna Co.’s third project in Sri Lanka which collectively amounts to an investment in the country of over USD 450 million.
Belluna Co. Japan has also invested in a 300-room city hotel on Marine Drive in Colombo 3 which is planned to be open mid 2021; an ultra-luxurious 57 room resort known as Le Grand in Galle which opened in August 2018; as well as their first resort endeavor with Marriott International, debuting the Westin Maldives Miriandhoo Resort entailing 70 villas opened in October 2018.
447 Luna Tower has been designed and constructed in consultation with Japanese engineers thus ensuring technical and structural expertise throughout the construction process. A team of representatives from Belluna Co. Ltd regularly inspects the quality of construction to reaffirm their unwavering commitment towards delivering only the highest quality offering.
The partnership with Belluna Co. Ltd, Japan and the initiative to run the project as a fully equity funded development continues to re-affirm investment security for clients of 447 Luna Tower. Furthermore, Belluna Co. Ltd has expressed their unwavering confidence during this time towards the success of 447 Luna Tower and the overall Sri Lankan real estate market.
Exclusive to its residents, the apartment is further equipped with facilities and amenities that offer a 360-lifestyle solution. The show floor has been completed on the 18th floor and is available for viewing to inspect the quality of the finishes. With a payment of 20% of the total price, investors can buy into the offering and pay the remaining 80% at handover.
Source: Daily FT on 12.08.2020 / The Island on 13.08.2020 / Daily Mirror on 27.08.2020