Leading infrastructure developer Iconic Developments announced that the unprecedented low interest rates on home loans, combined with the wide array of banking partnerships available for prospective homeowners of their apartment complex Iconic Galaxy, has contributed to building a safe and favourable landscape for investment.
Having earned its most loyal homeowners a value of around 20 – 30 per cent on their initial investment, Iconic Development’s construction of their newest luxury apartment complex is nearly fully complete and internationally minded and locally inspired and designed to the ‘pulse’ and ‘texture’ of Rajagiriya, imbibing the culture and the aspirations of the people.
“The COVID-19 pandemic and subsequent lockdown showed us the importance of building the ideal home – one which is self-contained and self-sufficient for peace of mind during these stressful times, but with the elegance and luxury to make day-to-day living a pleasure. The Iconic Galaxy truly fulfils those aims, and we’re delighted that we can offer this level of comfort and convenience to our prospective homeowners.
‘Through multiple financial partnerships with several banks, we have widened the scope of financing options available for homeowners. Adding to this, interest rates on home loans have recently plunged to single digits – customers should take advantage of these favourable conditions and take the leap of investing in the home of their dreams,” commented Iconic Developments (Pvt.) Ltd. Managing Director, Rohan Parikh.
The annual industry report published by the Research Intelligence Unit reaffirmed that the real estate industry as a whole has shown remarkable tenacity and resilience, despite the challenges posed by the pandemic.
The eminent recommendation of the report was that the present time is especially favourable for investment, given the low-interest rates in the market.
Enhancing the ease with which customers are able to invest in an apartment, Iconic Developments has built strong financial partnerships with Sri Lanka’s premier financial institutions. Offering flexible payment options and special home loans for apartment buyers, Iconic Galaxy is affiliated with top Sri Lankan banks DFCC, HNB, NDB, Sampath Bank, Commercial Bank and Standard Chartered Bank.
The first to introduce a flood-proof construction and a rooftop landscape, the Iconic Galaxy will deliver 285 super-luxury, two, three, four and five bed-roomed apartments amidst a plethora of world-class amenities and services to complement the lifestyles of the buyers.
Located in the prime of Rajagiriya’s upscale locality, the apartment complex is accessible from two roads and is perched on the trunk route of the Buthgamuwa Road. True to its name, Iconic Galaxy provides a 7-level private club worthy of a 5-star hotel, private guest suites for overnight visitors and on-site conveniences that include a supermarket, business centre, beauty salon and laundromat.
INSEE Ecocycle to provide waste management solutions for Galle Analytical Lab
Signatories to the agreement were Mrs. Dharshani Lahandapura, Chairperson and Dr. P.B. Terney Pradeep Kumara, General Manager, MEPA and Sanjeewa Chulakumara, Director of INSEE Ecocycle Lanka (Private) Limited together with senior officials from both organisations
INSEE Ecocycle, the nation’s pioneer in sustainable waste management has joined hands with the Marine Environment Protection Authority (MEPA), the apex body established to prevent, control and manage pollution in Sri Lanka’s marine environment, to provide Sustainable Integrated Waste Management Solution for the MEPA’s Galle analytical laboratory recently.
Prior to the agreement, no sustainable solution for analytical laboratory waste and chemical waste existed in the country. This hazardous waste was accumulated at laboratory premises or due to misconduct, was discharged into the open environment such as drains, soil or natural water streams etc. As a result, possible environmental impacts such as soil acidification or soil alkalization, eradication of aquatic plants and animals, possible ground water contamination, acid rains and ozone depletion could have taken place.
Similarly devastating human health impact such as skin cancers, liver damage, blindness, neurological disorders, adverse pregnancy outcomes and bioaccumulation were also a possibility.
Commenting on the agreement Sanjeewa Chulakumara noted, “INSEE Ecocycle is proud to partner with MEPA for analytical laboratory waste management and we highly appreciate the commitment and the passion of the senior management of MEPA for this collaborative sustainable initiative, which is a great example to other government institutions in the country as well.”
94% of consumers in APAC considering the use of emerging payment methods: study
As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.
“Mastercard’s study finds that people in the Asia Pacific region haven’t just adopted new payment technologies—they’ve made deliberate shifts based partly on necessity, but also on considerations around personal safety, security and convenience, at a time when these concerns were paramount,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard. “Consumers in Asia Pacific have already gained recognition globally for their openness to new technologies and innovation, and these findings confirm that this trend is only set to continue as more digital payment options rapidly become mainstream in this part of the world.”
About Mastercard (NYSE: MA), www.mastercard.comMastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
ASPI skyrockets to reach 3 ½ weeks high
Turnover recorded at a healthy level at Rs. 2.7bn
Bourse premiered the week shooting the index remarkably high to reach a 3 ½ weeks top. ASPI displayed a stepped upward trend and surged in the first hour of trading followed by a sideways movement during mid-day and ended with a gradual uptrend to close at 7,350 gaining 122 points.
Turnover was recorded at a healthy level at LKR 2.7Bn powered by the active retail participation. Food, Beverage & Tobacco sector dominated the turnover closely followed by the Capital Goods sector to generate a joint contribution of 50%. Foreign investors remained net sellers while recording low participation.
-First Capital Research
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