DailyFT Article : 447 Luna Tower on scheduleAugust 23, 2017
The developer of luxury condominium ‘447 Luna Tower,’ Union Place Apartments Ltd., a member of Belluna Co. Ltd., Japan, in alliance with Asia Capital PLC, completed the pilling stage for the project in April and is on schedule to complete stage 3 (up to slab 2) in September.
447 Luna Tower boasts a line-up of industry leaders dedicated to quality and excellence. The project developer has sought out several trusted and quality partners, of which Nawaloka Piling Company Ltd., one of Sri Lanka’s leading piling companies, was named the piling contractor, while Sanken Construction was named the construction partner and has already commenced construction on the project.
Commenting on the progress of the 447 Luna Tower constructions, Asia Capital PLC Director/Group CEO Stefan Abeyesinhe noted: “The full completion of this project and speedy delivery is our sole aim at this time. Through careful selection of all our partners, we can guarantee the best in quality for our buyers. We are pleased with the progress of the project and look forward to a 2020 hand-over.”
The project, which is scheduled to be completed in 2020, is poised to be the only condominium in the heart of the city to strike a perfect balance of elegant design, luxury living and convenience of location at a competitive price.
447 Luna Tower offers two-bedroom apartments starting from Rs. 36.5 million, three-bedroom apartments starting from Rs. 68.5 million and four-bedroom apartments starting from Rs. 118.5 million.
This is the first of many projects to be undertaken through the Asia Capital and Belluna alliance. Other projects include an ultra-luxurious 55 villa resort in Galle, for which is under construction and scheduled to be completed in April 2018; a 308-room city hotel on Marine Drive in Colombo 3; as well as their first resort endeavor with Marriott International to debut the Westin brand in Maladives with the ‘Westin Maldives Miriandhoo Resort’ entailing a 70-room capacity. A further multi-development project in Colombo is in the planning stages.
Belluna Co. Ltd., Japan’s long-term plans with Asia Capital PLC reiterate the company’s confidence in Sri Lanka’s growing real estate industry.
Source : DailyFT article on 22 August 2017