Eduard Hempel is set to launch his latest venture, Tamba Villas Thalpe with an investment of US$ 15 million in Thalpe next month.
Tamba Villas Director and Co-Project Principal, Eduard Hempel speaking to the Daily News Business, said that they are going to construct 37 Villas on a four acre property in Thalpe.
“The 37 villas includes seven swimming pools throughout the estate and an eighth 23 metre wrap around pool, custom-designed ponds with tropical landscaped gardens which would commence in early 2019, while the project is scheduled to be completed by early 2021,” said Hempel.
“Tamba Villas is a delightful private coconut estate which is set back 300 metres from Thalpe beach (on the land side) surrounded by gardens and swaying palm trees.
The Southern coast which in recent times has witnessed a flurry of development and related activities, will soon be home to an idyllic, luxurious, yet at the same time, a home away from home development; Tamba Villas,” said Hempel.
“The Villas have been designed by an award-winning Singaporean Architectural team, to create a coastal lifestyle design with high-end amenities for living, working or early retiring in a much sought-after area in the South of Sri Lanka.”
“We want to give each home owner an idyllic life in a beautiful, safe space with all the comforts of modern day living, a place that affords them a 5-Star life-style; in short Tamba Villas in Thalpe. Tamba Estates Ptv Ltd, a Sri Lankan Limited company, owns 100% of the land that Tamba Villas will be built on,” said Hempel.
“The biggest plus point in economic terms for real estate developers was the fact that foreign investors can now buy freehold in a condominium development. “On July 30, 2018, the Sri Lankan Parliament ratified an amendment to the laws so that foreigners can now buy Freehold ground upwards. Previously, foreigners could only buy Freehold from the 4th floor up, and consequently Sri Lankans were wary of buying the lower floors since they couldn’t sell them to foreigners”. This was having the effect of bending new buildings out of shape all over Colombo, as developers dedicated the first four floors to ‘car parking’. After all, Sri Lankans quite rightly didn’t want to purchase a property with a market that is limited, but this latest development now opens the doors wide for foreigners to invest in real estate in Sri Lanka,” he said.
“We are incredibly excited, as we are just going into market with our delightful condominium/Villa development in Thalpe, and it is the first of its kind in the country. Foreigners can now own their Free-hold, which opens up the doors globally”, he said.
Each villa has been named after a tea estate and the overall look and feel is highly reminiscent of world renowned architect, Geoffrey Bawa. “The courtyards and verandas and the general feel of the buildings echo that grandest and most delightful and celebrated period of Sri Lanka’s architecture, the Colonial period. Tamba Villas hearkens back to a bygone era where leisure and sheer gentility were the order of the day. Serenity, respite and tranquillity, combined with modern day 5-star amenities and luxury pampering, will be our hallmark”, he said.
“We are confident that the villa will be an excellent investment. Property prices have been steadily going up over the last 5 years and will continue to rise, given our strong tourism sector and growing economy”, he said.
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