Home Lands Skyline breaks ground for Oceana Beach Resort Apartments – Wadduwa

From left: CEO Yasas Pathiranage, Director Legal Nimali Gunasekara, COO Construction Lasith Liyanaarachchi, Structural Eng. Saro Weerasooriya, Ar. Philip Weeraratne, Home Lands Group Chairman Nalin Herath, Home Lands Group Director Harshani Herath, Managing Director Project (LCMC) Eng. Kithmal Perera, Director Operations and Administration Lanka Jayasinghe, Eng. Jayalal Samaraweera and Eng. Ajith Weniwella

Home Lands Skyline (Pvt.) Ltd broke ground for its next-generation project Oceana Beach Resort Apartments – Wadduwa recently, which added this 17-acre development to its portfolio of properties. 

Oceana Beach Resort Apartments, the first-ever integrated beach resort apartment complex, integrates hospitality and residential real estate. The groundbreaking of Oceana was a pivotal event in Sri Lanka’s real estate market and a crucial milestone in apartment living. 

In recognition of its world-class standards and superior facilities offered in all construction projects, Homelands Skyline was awarded as the Best Developer in Sri Lanka at the Asia Property awards 2021 and received the prestigious status of A (lka) Stable by Fitch ratings for its solid financial stability. Further, Home Lands Constructions received the highest status standard of C2 from CIDA, reflecting high construction standards and its strength in the local construction industry.

Home Lands Skyline has always been able to go above and beyond what was initially promised on all of its projects. Despite the economic downturn, Home Lands Skyline was the first real estate company to be rated Fitch A (LKA) stable outlook due to its strong cash flow. 

“We broke ground on Oceana 2 months ahead of schedule. We originally planned to break ground on the project in May but we decided to go ahead in March. This indicates that Home Lands Skyline is the industry’s leading developer and that we are economically stable despite the country’s situation,” Home Lands Group of Companies Chairman Nalin Herath said.
Oceana – Wadduwa, Homelands Skyline’s latest project, is spread out across 17 acres and includes 400 meters of beachfront. It is designed to include 552 luxury beachfront resort apartments, a luxury hotel developed on six acres of land and a host of world-class amenities. Only 15 percent of the project area is allocated to the building, while 85 percent of the complex is maintained in its natural setting and open areas, whilst providing 50+ world-class facilities. 

Designed by renowned architect Phillip Weeraratne, Oceana – Wadduwa is planned to be constructed with clean and minimalist rooms accented with the delicate feel of natural materials. Investors can pick from a wide range of housing types, including one, two and three-bedroom apartments and penthouses explicitly designed with them in mind. Home Lands Construction – the construction arm of Home Lands Group, will take over this prestigious project with its current and highest construction standard of C2 grading awarded by CIDA.   

Due to the unique nature of this integrated beach resort apartment development, it is expected to be a fast-appreciating investment that provides excellent value appreciation with a very short return on investment, significant capital gains and rental yields—owing to its distinct beachfront location. The luxury beachside project is expected to witness completion by December 2024.