Platinum1 launches first five-star managed apartment investment

21 October 2015 06:30 pm Views - 2318

L:R  Chiranjeeva Samarawickrama –Director Platinum Realty, Kishore Reddy- Managing Director- Platinum Realty , Gaurav Swarup- Director Platinum Realty, Subba Rao Dukkipati- Chairman Platinum Realty, Mohan Pandithage-Chairman Kingsbury PLC, Lalin Samarawickrama- Managing Director Kingsbury PLC, Manohari Abeyesekera- Head Strategic Business Development-Hayleys PLC,  Darshi Talpahewa- Head – Group Legal, Hayleys PLC , Suguna Sridevan – Group Legal ,Hayleys PLC    

The launch of Platinum1 Investment Proposal 2015, brings with it unparalleled homeowner benefits and a financial security and investment appreciation guarantee, as a first of its kind innovation made available to discerning potential owners of the properties high-end units. 
The investment proposal includes – among a host of other benefits – 5 star hotel management by The Kingsbury for the entire building, with a guarantee that the exacting standards expected of a 5 star establishment will be maintained throughout, in all areas. 
The proposal also offers a function by which an investor can purchase a unit and lease the apartments of Platinum1 to The Kingsbury, which is backed by the Hayleys Group, earning a guaranteed minimum return of 5 percent in US dollar terms of the total investment, while the unit is maintained wholly by its 5 star management. 
The investment plan also allows the investors to pay a part of the total price of the unit, lease it for ten years to the 5-star management and divert the earnings to settle the balance payment, which is being secured through a banking product.  Lalin Samarawickrama, Managing Director, The Kingsbury Hotel PLC speaking on the role the leisure arm of The Hayleys Group will play in the management of Platinum1 explained, “Hayleys will be making an investment into managing the Platinum1 apartments, comprising 66 apartments of which 40 apartments will be managed by the Kingsbury and the rest sold outright to owners”. 
Explaining the method of running the property, Samarawickrama pointed out that they would provide a guaranteed return to the owners, as the Kingsbury would assist in renting it out if necessary as well.
Speaking on the proposal, Kishore Reddy – Managing Director/C.E.O explained, “ “In its essence the proposal makes it possible for the investor to own a unit by paying less than 100 percent of the total cost, while having it maintained to a 5-star benchmark for a decade. In addition to the construction and design elements we offer our investors the additional security of having a Provisional Condominium Plan. This acts as a further assurance for investors that construction will proceed upon the stipulated standards and scheduled to be completed by the end of 2015.”
The investment proposal launched by the company brings into play a myriad of factors designed to best benefit investors. With handovers scheduled for end 2015, the investment proposal makes it possible for investors to own their own unit free and clear as soon as the end of this year and start generating an income by early 2016.  Hemanthi Wanigasekera– Head of Sales & Marketing, Platinum1, speaking on the development of the building and the group’s plans for its future, said, “Our investment plan is in many ways an extension of this promise. Not only will it be possible for our investors to own a unit at less than 100 percent of its sale value, but they can also have it maintained - for a decade. All in all, this in an unprecedented offer in the Sri Lankan real estate market and we are proud to have been able to make it possible for our investors”.