Connect with us

Business

TRI-ZEN 45% done: trend towards investing in apartments says JKH

Published

on

Attractive interest rates & real estate-focused financial products catalyse demand

A combination of attractive interest rates and the launch of real estate-focused financial products is leading a trend towards investing in apartments, according to John Keells Holdings Vice President, Head of Sales and Marketing (Property Group), Nadeem Shums.

Sri Lanka’s financial sector has reached a phase of low interest rates – for fixed income products and housing loans. Together with strong underlying demand for condominium properties, the developer reported a surge in demand from investors on the look-out for stable, high yielding investments.

“Despite the challenges arising from the pandemic, the real-estate sector has continued to perform well. We have also made steady progress on construction with the towers ascending to the 39th floor. You can now start to see TRI-ZEN taking shape and transforming Colombo’s skyline,” Shums stated.

He added that with increased urbanisation more Sri Lankans are seeking a new standard in convenience offered by properties like TRI-ZEN because of the central location, superior amenities, and attractive rupee pricing. “This is where our competitive pricing, relative to other metropolitan developments, proves to be particularly attractive. Especially with increased construction costs and land costs, the value of such condominium properties will continue to appreciate.”

In order to offer aspiring homeowners greater financial flexibility, JKP announced a slew of partnerships with some of Sri Lanka’s leading banks for its ground-breaking ‘Freedom Mortgage Package’. By providing customers a two-year interest free period on their mortgage, it requires customers to only pay 20% now and nothing more for the next two years. Customers can enjoy a payment free period of two years, after which the interest payments begin, and the capital repayments are made three years thereafter.

Interest rates are attractive, from just 7% per annum, and homeowners have the choice of a suite of mortgage packages with minimal down payment required. With three leading banking partners offering expansive branch networks and excellent customer service embedded within the pioneering mortgage plan, homeowners have the choice of partnering with a financial institution of their choice.

“The response to Freedom Mortgage has been very positive, and it has allowed many investors who, would typically not be in a position to put together large amounts of capital, to finally have a clear path to invest in a project like TRI-ZEN. This is game changing for those looking either to hold the property as a long-term investment or to simply have a pad in the city for your family,” Shums said.

TRI-ZEN is a joint venture between Indra Traders (Pvt) Ltd and John Keells Holdings PLC, with China State Construction Engineering Corporation Ltd (CSCEC) serving as the main contractor. The three tower 891-unit apartment project on Colombo’s Union Place will have one, two and three bedroomed apartments, with two-bedroomed apartments starting from just Rs. 36 million.

The complex will have over 35 amenities for a thriving community including green spaces, a jogging track, a swimming pool, fitness and wellness studios, and a games room, providing residents with an integrated living space capable of meeting all their needs, while its central location provides easy access to the heart of Colombo. (news release)



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Money launderers would be brought to justice regardless of social standing – CBSL Governor

Published

on

Central Bank Governor Ajith Nivard Cabraal

By Steve A. Morrell

Money-laundering and related financial frauds would be intensely investigated and those suspected of such financial crime would be brought to j1ustice regardless of social standing. The law would be enforced stringently on those who engage in these malpractices, Central Bank Governor Ajith Nivard Cabraal said.

The CBSL Governor made these comments in response to questions posed by the press at the media briefing addressed by him on December 4 at CBSL’s Atrium complex. At the head table with Governor Cabraal were Deputy Governor Dr. K.M.M. Siriwardena, Deputy Governor Ms. T.M.J.Y.P. Fernando, Deputy Governor Dr. N.W.G.R.D. Nanayakkara and Deputy Director of the Foreign Remittances Facilitation Department Dr. B.H.P.K. Thilakawardena.

It is of importance that banks have assured the Central Bank that such suspect transactions would be closely monitored. The receipt of large parcels of funds that raise suspicions would be thoroughly probed. Banks would be empowered to investigate the origins of such funds. If valid explanations are not forthcoming as to how such moneys were amassed, action would be taken following intense investigations to bring wrong-doers to justice, the CBSL Governor said.

On the subject of Sri Lankan migrant workers, Cabraal said that the number of workers who departed this year was comparatively low. Some 20,000 left for employment. This figure was nowhere near the annual departure rate. Before the pandemic, about 96, 000 or more Sri Lankan migrant workers were employed in other countries.

Cabraal added:

‘The low worker departure numbers this year meant dollar remittances this year were also low.

‘However, such remittances attracted duty free concessions, which encouraged migrant workers to send back earnings.

‘In exchange rates, the dollar was now Rs.210. This meant that depreciation of the rupee was stalled.

‘Inflation is subjected to global prices of oil, coal and other goods Sri Lanka imports. Based on such international prices, import value of such commodities was beyond the control of the local authorities and did influence the inflation that was experienced by Sri Lanka.

‘Departure to other countries for employment by Sri Lankans was now facilitated to ensure such departures were not stalled in any way because of the importance of forex remittances.

‘There was also now a useful pension scheme in addition to the duty- free allowance; mainly to encourage inward remittances.’

Continue Reading

Business

Alliance Finance expands its sustainability drive through island wide branches

Published

on

Alliance Finance Dehiattakandiya Branch Donated an Oxygen Concentrator Machine to the Dehiattakandiya Base Hospital on 19th June, 2021

Alliance Finance Co. PLC, (AFC), Sri Lanka’s oldest finance company with over 65 years of expertise in offering affordable and inclusive sustainable finance solutions to empower the nation. AFC has taken a step forward to expand its sustainability drive through its island wide branch network, launching AFC branch sustainability programme, known as the “AFC helping hand” with an aim to help uplift the lives of Sri Lankans and lend a helping hand to the fight against the pandemic. This initiative has several competed projects to date and over 30 project implementations are in progress, despite the challenges from the Covid-19.

The branch network following in the footsteps of AFC, have embraced the opportunity to serve the communities in their respective regions. AFC donated a vast array of medical equipment to hospitals, lending a hand towards the ongoing battle against COVID-19 including formal reliefs to affected clients & staff. To date the company has supported hospitals in Northern, Uva, Eastern, Southern, Western, Sabaragamuwa and North Western Provinces and many projects are progressing in other provinces as well.

Commenting on the AFC helping hand programme, Deputy Chairman and Managing Director Romani de Silva said, “It is with great enthusiasm we embark on these projects to support our own communities. All of the AFC’s branches have rallied behind this programme to fulfil the most pressing needs of their respective locations. We are in the midst of a highly challenging period with the pandemic.”

Continue Reading

Business

Leading Singaporean edtech platform Tutopiya provides Sri Lankan tutors with global teaching opportunities

Published

on

Tutopiya CEO Nuha Ghouse

Tutopiya, a Singapore-based edtech platform, announced the official launch of its tutor recruitment drive in Sri Lanka. This drive comes at a time when online tuition is necessary amidst the pandemic and social distancing measures across the globe.

Tutopiya works with a network of experienced tutors to bring online tuition to students at home. Tutopiya specialises in teaching international school students from grades 1-12 focusing on the IGCSE and A levels by Cambridge & Pearson Edexcel Examination Boards and the International Baccalaureate (IB).

Nuha Ghouse, CEO of Tutopiya said, “We are excited to launch our tutor recruitment campaign in Sri Lanka and have already seen a lot of interest from tutors looking for global teaching opportunities which are not disrupted by the COVID-19 pandemic. We want to offer students access to quality online education, which is crucial at this point, so we have one of the largest and thoroughly vetted active databases of quality teachers to ensure we provide the highest standard of online tuition.”

A growing interest in global online teaching opportunities

Developed and honed in-house over a three year period, Tutopiya’s proudly owns its advanced web-based platform and mobile app which completely equips tutors to offer a high quality online learning experience with absolute convenience in lesson scheduling, joining and teaching. In addition, tutors are provided with teaching resources and ongoing continuous training and webinar series to ensure the tutors are fully supported and up-to-date with the latest international curricula and the best online teaching techniques.

Tutopiya’s faculty of internationally-qualified subject specialist teachers ensures the students have access to advanced standards of knowledge and skills for every subject offered. Tutors are selectively and privately-screened to ensure that they provide students with the best education possible.

Private live and interactive lessons without leaving home

Through Tutopiya’s advanced mobile app and web-based platform, students and teachers have a range of features which provide a complete solution for online learning – live lessons, practice

assignments, progress tracking, feedback, lesson recordings, to name a few. This makes online learning most effective, efficient and best of all, convenient.

Becoming a Tutor with Tutopiya

If you are someone who is passionate about teaching and would like to work with students from different parts of the world, visit www.tutopiya.com and submit your online application under the ‘become a tutor’ section. https://www.tutopiya.com/become-a-tutor/

Traditionally, students who enroll in tuition outside of school have to travel to their tutor’s homes or vice versa. However, with more restrictions due to the COVID-19 pandemic, this is not a viable option for many.

By removing the physical barrier, learners and tutors will have more opportunities and chances for exploring new and qualified educators. Tutors can gain a better understanding of each student through one-on-one time. Through this communication, tutors can deliver customised lessons that suit their individual needs and learning styles for the best outcomes.

Continue Reading

Trending