SouthBeach Weligama achieves first milestone with groundbreaking ceremony

From left: Balmond Studio Project Director Derek Timms, SBW Director Larimon Balmond with Annabelle, CSEC Managing Director Eng.  Shiromal Fernando, SBW Managing Director John Balmond, Buildmart Managing Director Hema Perera, SBW Senior Consultant Dilshan Kodituwakku and Udayanga Alwis from CSEC 

Sri Lanka’s most exciting new freehold address on the Weligama coast entered its first chapter of construction in a groundbreaking ceremony held recently at the site. 

It also etched another milestone when in just six weeks, 40 percent of the apartments had already been sold. 

SouthBeach Weligama is internationally designed by trailblazer Balmond Studio, led by Sri Lankan-born Cecil Balmond OBE, the world’s leading thinker on form and structure. He has been a consultant on some of the world’s most famous buildings, including the CCTV Tower and London Olympic Tower 2021 and is the lead architect for the John Keells Cinnamon Life project in Colombo. His son John leads the Southbeach Weligama project.

Breaking ground at the site in Weligama also means that Balmond Studio is keen on completing the 106 apartment complex billed to transform oceanfront living by its scheduled date of 2024. The construction will be led by Buildmart, a Category One contractor reaffirming the project’s commitment to unsurpassed quality. 

The complex offers exceptional value offering an investment of US $ 16 million (Rs.3.2 billion) and has a current mix of foreign and local buyers. The initial booking deposit is 5 percent and 15 percent upon signing of the sales and purchase agreement. 

With an affordable alternative to a five-star hotel, SouthBeach Weligama, which has a 75-meter pristine beachfront and a 35-meter pool, narrates a complete, distinctive and ethical lifestyle with a year-round yield for its one and two-bedroom apartments of 727 square feet and 1,137 square feet respectively, predicting a gross rental yield of 6.5 percent. 

Southbeach Weligama is a celebration of modern beachfront living, which empowers the local community, where local craftspeople will produce furniture for the project; an art gallery will showcase modern Sri Lankan artists and a music room will be a hub for local musicians to gather.