CPG Breaks Ground On Million Dollar Resort Residence Project – Digana By Cpg

From left - CFO Mr. Prageeth Edogedara, Head of Projects and QA Mr. Imad Gulam, CPO Mr. Omar Mizran, Chief Architect Mr. Chamika De Alwis, CEO Mr. Reza Magdon-Ismail, Mr and Mrs. Sangakkara, CGO Mr. Gavin Ramsay, COO Mr. Marlon Jayawardena and Head of Sales Ms. Shashi De Silva.

This past week, CPG hails a key milestone by breaking ground on their third and largest project under the Resort Residence Model; Digana by CPG. Announced in December of 2021, the Project saw an excellent reception with over 70% sales closure in the first two weeks of launch.  

The road travelled since has been difficult to say the least, as skyrocketing inflation rates wreak havoc on the construction industry of Sri Lanka. CPG CEO and Executive Director, Reza Magdon -Ismail stated: “operating in a volatile environment has been the status quo for all businesses in Sri-Lanka for many years especially post 2018. As has been the resilience of our fellow Sri-Lankans to much adversity this resilience has translated into our way of doing business. For CPG, our ability to identify and mitigate risks at an early stage enabled us to identify signs of impending economic instability, and one of the courses of action we took which was forward buying all the steel required for the completion of the project.” 

“At CPG, our mandate is clear; to deliver on promises made, senior management of the company with support of its board of directors and shareholders believe that our clients come first, it is in this sprit and that we move forward.” says Mr. Magdon-Ismail. “What we are hoping to build is a brand legacy that can thrive in good times and endure in the challenging ones. For us; our priority is not profits, but to deliver through the storm and trust in the model we are building.” This model is based on CPG’s belief in Sri Lanka as a tourism destination, its Resort Residence Model allows  investors to benefit not only from real estate capital gains but from the great tourism potential Sri Lanka has. Investors can choose to allow their Residence to be part of an ever-growing chain of Resorts under the CPG Hospitality Brand. CPG CEO Reza Magdon Ismail stated that, “Our trust in the country allows us to have clarity in our purpose and put our clients first, our belief in Sri Lankas potential as a tourism destination is strong and we are not short term focused and while the investment we have made today is in an extremely challenging time, we believe that these efforts will be rewarded in the long run as we are steadfast in our belief that SL will bounce back. It is with this in mind that CPG has decided to focus all its efforts on an international marketing push. Promoting Sri Lanka and enticing foreign inward investment with plans to uplift the leisure real estate and tourism/hospitality industry. 

CPG is further motivated while looking Southwards towards their other two Projects. Crystal Sands and The Six Midigama; Crystal Sands being the first and only fully serviced mid-rise development project in the South to reach completion and take on its new life as a fully-fledged hotel generating revenue to its investors. The Six Midigama, just 10 months away from completion, made stellar progress in 2022 and will be the most interesting hospitality product in the South. CPG has plans to expand its offerings into F&B, Spas and Travel. The company is supported by its board led by Chairman; Kumar Sangakkara. 

Digana by CPG is a collection of 24 Ultra-Luxury Villas overlooking the Victoria Reservoir. The villas range from 5,000 Sq. Ft to 10,000 Sq. Ft and come fully furnished, serviced and turnkey. All units come with private pools and uninterrupted views of the water. Just 15 mins from the Victoria Golf Club, Digana by CPG villas start at $ 650,000 USD and is expecting to reach completion by Q2 2025. With only a few units available for sale, CPG is making USD sales a priority. 

For more information, visit – www.diganacpg.com / www.cpg.lk or call +94772292202