Breaking ground at the site in Weligama, Balmond Studio is keen on completing the 106 apartment complex billed to transform oceanfront living by its scheduled date of 2024.
Sri Lanka’s 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% of the apartments had already been sold.
The construction will be led by Buildmart, a Category 1 contractor, reaffirming the project’s commitment to unsurpassed quality. The complex offers exceptional value, offering an investment of $ 16 million (Rs. 3.2 billion) and has a current mix of foreign and local buyers. The initial booking deposit is 5% and 15% upon signing of the sales and purchase agreement.
With an affordable alternative to a five-star hotel, Southbeach Weligama which has a 75-metre pristine beachfront and a 35-metre 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%. 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.
Southbeach Weligama is internationally designed by trailblazer Balmond Studio led by Sri Lankan-born Cecil Balmond OBE, the world’s 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.
Southbeach Weligama to complete 106 apartments by 2024
21 Mar 2022
Southbeach Weligama to complete 106 apartments by 2024
21 Mar 2022