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Macksons Tower: the latest mixed development project in Colombo

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Macksons Tower by Macksons Developers was recently launched in the city of Colombo signifying the first mixed development project by Macksons Holdings. Situated at 12, Alfred House Gardens, Colombo 3, the property offers retail and office space with ample parking, thereby providing all required facilities at a convenient location. The soft opening was held in the presence of Milfer Makeen, chairman, Macksons Holdings, Mizver Makeen, Managing Director, Macksons Holdings and Ranga Goonawardena, Director/CEO, Macksons Developers.

Macksons Tower consists of of 19 levels, which is a total area of 100,000 square feet; from this area 70,000 square feet is rentable space. As a mixed developed project, the property has three levels of car park, retail space and nine floors of office space with a restaurant on the rooftop, which has two levels with beautiful panoramic views. Designed by renowned Sri Lanka architect, Priyantha Prematilake, the building design focuses on a green concept with in-built energy saving mechanisms. Solar powered renewable energy is used to power the building, together with the use of ‘Low E’, energy efficient glass, which reduces the heat thereby increasing the efficiency of the air conditioning. The interiors are spacious and beautiful with all required facilities provided for the smooth functioning of an office. Furthermore, due to its green concept there is also the provision to work within the office spaces without air conditioning. The construction was done by Tudawe Brothers, which is a C1 contractor. As a 100 percent Sri Lankan owned company, Sri Lankan building materials were used as much as possible.

As Ranga Goonawardena, Director/CEO, Macksons Developers explains, “There are so many advantages; we provide many facilities within the building itself and we are located in Central Colombo.” Due to its convenient location people can travel to Macksons Tower in their own transport or public transport. Though parking is a main issue in Colombo, the building provides ample parking space, many free spaces are available for parking in the vicinity as well. For those traveling by public transport, Galle Road and Duplication Road as well as the Bambalapitiya and Colpetty railway stations are within walking distance.

Macksons Developers did not presell the office spaces as they wanted the customer to see the property and make their decision. Furthermore, flexibility on the terms and conditions are provided as well. “We understand this is a challenging period and that the market too is competitive, therefore, we are open to negotiate and provide the best package that will fulfil the tenant’s requirements,” explained Ranga Goonawardena. Macksons Developers will also provide a reasonable grace period and a reasonable rate if the tenant is signing a long-term contract, where step-up leasing rental would be an option. “Even, if you are coming for a short-term contract we can be flexible on terms,” he further stated. Macksons Towers will offer co-working spaces in two floors. The emphasis is to provide support to businesses so that they are not burdened by rentals, thus both parties will be able to benefit through the process.

“We have an advantage because we completed the project, while new constructions projects have not been initiated in the past year. Therefore, we have a small lead. As a Group we are very positive about the market and we will continue to make investments in property development,” stated Ranga Goonawardena.

Macksons Tower is BOI registered project. Macksons Developers is a BOI approved company and is a member of Macksons Holdings. As a diversified group of 14 companies, other member companies include Multilac, Macktiles, Mans Lanka and Mandarina.



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Newly developed Sathosa Motors Service Complex to service all vehicle brands

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Sathosa Motors PLC and its new state-of-the-art vehicle service complex, is now serving not just Isuzu but also any brand of vehicle.

Pioneering automotive specialist, Sathosa Motors is the sole authorized agent for the world-renowned Isuzu brand, but the newly developed service complex will now undertake all kinds of services required for any brand of vehicle.

 The internationally trained specialists are ready to serve you at the Sathosa Motors Service Complex now on weekdays from 8.00 am to 5.00 pm and on Saturday from 8.00 am to 1.00 pm at No 25, Vauxhall Street, Colombo 02.

Sathosa Motors PLC guarantees its customers reliable and convenient service and will undertake vehicle inspections, periodic maintenance, body and under carriage washing, interior cleaning and beautification, engine tuning, error diagnosis, accident repairs, air condition repairs, and many more at a highly affordable rate.

In addition, genuine spare parts, as well as lubricants and industrial services are available at discounted prices at the Service Complex.

Sathosa Motors PLC aims to provide high quality services at all times and all services are carried out strictly under health guidelines due to the prevailing COVID-19 pandemic situation.

Sathosa Motors announces that it has decided to keep all branches of the Sathosa Motors service network open to continue to serve its customers.

 

(Sathosa Motors)

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CSE trading bullish despite rupee hitting historic low against dollar

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By Hiran H.Senewiratne 

CSE trading activities were bullish despite Sri Lanka’s rupee registering a historic slump against the US dollar   at 202/205 to the one month dollar in mid morning trade yesterday, after opening at around 200/203.The stock market moved up, though, anticipating March quarterly results to be exceptional. This is expected to be particularly true of the Hayleys Group and Expolanka. Accordingly, investors seem to be re-entering the market after January, stock market analysts said.

Further, approval of the US $ 500 million Chinese loan and the fact that the Port City Bill has been tabled in parliament have lifted investor sentiment in a significant direction of the stock market, market analysts said. Amid those developments, both indices moved upwards, especially the All Share Price Index went up by 1.22 percent. The All Share Price Index rose by 92.35 points and S and P SL20 went up by 19.21 points. Turnover stood at Rs. 4.72 billion with four crossings. 

Those crossings were reported in JKH, which crossed 922,000 shares to the tune of Rs. 137.8 million, its shares traded at Rs. 149.25, Commercial Bank 950,000 shares crossed for Rs. 82.7 million, its shares traded at Rs. 87, HNB 155,000 shares crossed for Rs. 26.5 million, its shares traded at Rs. 132 and Ceylon Cold Stores 33,500 shares crossed for Rs. 20.1 million, its shares fetching Rs. 600.

In the retail market, five companies that mainly contributed to the turnover were, Browns Investments Rs. 793.6 million (123.1 million shares traded), LOLC Rs. 463.4 million (1.32 million shares traded), Royal Ceramic Rs. 442 million (1.2 million shares traded), Hayleys Rs. 442 million (five million shares traded), Dipped Products Rs. 372.3 million (6.2 million shares traded). During the day 197.3 million share volumes changed hands in 30480 transactions. 

The market was quite bullish from the beginning and LOLC Group companies led the market. It is said that LOLC contributed 25.5 points to the All Share Price Index. Browns Investments 9.8 points and Vallibel One contributed 8 points to the All Share Price Price Index while Commercial Leasing contributed six points.    

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‘Embark on that long-awaited getaway with Emirates and enjoy special fares’

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Emirates is launching seasonal fares that enable aspiring globetrotters to plan exciting adventures around the world as well as for students preparing to travel overseas. With Emirates’ generous booking policies, customers have the option to lock in these special fares and extend ticket validity for up to three years, enjoying greater flexibility and confidence when planning travel during unprecedented times.

Travellers in Sri Lanka can look forward to flight deals on all routes in Emirates’ global network, with return fares starting at only Rs 68,700 in Economy Class or Rs 257,500 in Business Class. These special seasonal fares are available for bookings made from 13 to 26 April 2021, and are valid for travel between 16 April and 30 September 2021*.

Featured destinations and starting Economy Class fares include: US$ 342 (about Rs 68,700 at current exchange rates) to Dubai, US$ 654 (about Rs 131,300) to Milan, US$ 644 (about Rs 129,300) to Paris, US$ 1,117 (about Rs 224,200) to New York, US$ 1,303 (about Rs 261,500) to Toronto and US$ 966 (about Rs 193,900) to Nairobi.

Special Business Class fares start at US$ 1,283 (approximately Rs 257,500) to Dubai, from US$ 3,127 (about Rs 627,600) to Milan, US$ 2,860 (about Rs 574,000) to Paris, US$ 3,618 (about Rs 726,100) to New York, US$ 3,654 (about Rs 733,300) to Toronto and US$ 2,179 (about Rs 437,300) to Nairobi. All fares in Rupees are subject to the rate of exchange on the day of purchase.

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