GVR Lanka signs agreement for mixed development project

19 February 2013 03:51 am Views - 3943

The Board of Investment (BoI) signed an investment agreement with GVR Lanka (Pvt.) Ltd to set up the first-ever mixed development real estate project in Kandy, close to the famous ‘Elephant Bath’ locale.

The project is planned by two Sri Lankan-born US entrepreneurs and will be managed by an experienced team of hospitality sector professionals.

GVR Lanka (Pvt.) Ltd Chairman Mahasen Samaravijaya stated, “We believe, with its location and luxurious amenities, the complex can be marketed as an ‘Oasis of Tranquility’ providing an unparalleled lifestyle experience to its hotel guests and apartment owners.”

Investment Promotion Minister Lakshman Yapa Abeywardena formally presented the BoI Certificate of Registration to Mohan Chandramohan and Mahasen Samaravijaya. The first phase of the project, which is a 15-storey luxury residential apartment complex, will consist of 26 units of two-bedroom apartments, 52 units of three-bedroom apartments and four penthouses.

The second phase of the project will consist of a separate 21-storey building of 144 four-star hotel rooms with some service apartments. Amenities include health spa, function halls, arcade and roof top terrace restaurants. The restaurants will have a 360-degree view of the mountain range, the majestic Mahaweli River and the historic city of Kandy.