'Twin Towers' in Kotahena

Hiran H. Senewiratne

PROPERTY DEVELOPMENT: CT Properties Ltd will launch their latest venture in the property development market, which is known as GS Towers. This project has two towers, which includes a commercial, entertainment and residential complex to be situated at Kotahena shortly.

The company's main aim is to target professionals, business owners and expatriates who are seeking a secure investment by offering individual apartments at a targeted price of Rs 16 million and upward, its Chairman/Chief Executive Officer Raj Selvaskandan said.

He said that the main building features 36 levels and a second one 30 levels. It has spectacular views of the Colombo Harbour, sea and Colombo City. This apartment and commercial complex feature recreational facilities such as a swimming pool, club house, gymnasium and function hall which will be exclusive to apartment owners.

According to Selvaskandan this apartment and commercial complex features 240 spacious apartment units of varying areas along with many shops, offices, cinemas and other amenities.

The estimated cost is around Rs 4.2 billion. The site of the proposed tower has a gross floor area of 620,000 sq.ft. While individual apartments will have floor areas from 1,100 to 1,550 sq.ft. The duplexes will be more spacious from between 2,000 to 2,800 sq.ft.

He said this project was launched following an agreement between CT Properties, GS Towers and the Board of investment.