Dusit Thani Beachfront Balapitiya last week said that 50% of Phase 1 of the project has been sold out. The beach front high-rise property that consists of 560 apartments will be constructed under three stages.
While the property will feature three phases, the first segment of the construction will be completed by 2019. Phase two which will consist of a picturesque beachside promenade will be also completed in parallel with phase one. An assortment of dining choices will be offered varying from Western, European and Asian cuisine alongside fine dine restaurants, barista cafes, patisseries, champagne lounges, and beer and whiskey bars.
This five-star property designed by world known Singaporean architectural firm ‘Design team 3’ is managed by Thai hotel and apartment operators Dusit International and is to contain one of the largest beach clubs in all of Asia.
The apartments in Balapitiya are located with one kilometre of absolute beachfront and feature a 1.2 kilometre access to several prestigious beaches on Sri Lanka’s eminent West Coast between Bentota and Hikkaduwa. Furthermore the property will offer a 24/7 concierge, luggage, security and valet service together with the promenade that will entail 15 international restaurants, a luxury spa, sauna, gymnasium, five swimming pools, tennis court, a multi-faith chapel and a 2500sqm convention centre.
Dusit Thani Sri Lanka Director Ajith Wijesinghe said, “What we’re doing at Dusit Thani is selling apartments for investment so most people buy these as investments and not to live in. For it to be an investment one needs a cash flow and because this is a hotel project, the apartments get a dollar base cash flow since the tourists who come to Sri Lanka generally go down south. Therefore we have the one and only integrated resort in the area.”
“We are not just an apartment project; we are an integrated resort on the beach. As such, people who buy the apartments can not only enjoy these world class facilities but could also take time to relax with a view of the beautiful scenery,” he added.
Sri Lanka’s one and only beachfront, high-rise, investment apartments are now open to foreign investors at a price rate of $ 244,000 with a guaranteed return of 6% net professional association for five years. Returns are paid quarterly with no ongoing costs and the accumulation of huge capital gains potential. In addition owners will have access to a free 21 day stay at the apartments.
“I’ve seen Sri Lanka do some amazing things and something I’ve observed that is constant, is how our product is based on tourism and at present there’s more and more tourists coming into the country. Thereby we are very confident that our resort will be taken up quite a lot,” said Dusit Thani Sri Lanka Co-Director Paul Dwyer.
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