Business News Update: The luxury condominium ‘447 Luna Tower’ is set to be completed in mid-2020, offering impeccable value to those seeking to purchase real estate in Colombo.
With a total investment of approximately USD 50 million, the project is fully funded by the Japanese conglomerate Belluna Co. Ltd along with the support of local partner Asia Capital PLC. 447 Luna Tower is Belluna Co.’s third project in Sri Lanka which collectively amounts to an investment in the country of over USD 450 million.
Commenting on the progress of the project Sandun Hettige, Director, Union Place Apartments (Pvt) Ltd. said, “We take great pride in announcing that the construction of 447 Luna Tower is proceeding as per schedule and we are on track for completion in mid-2020. This project is fully equity funded and not leveraged, thus ensuring smooth operations and constructions without any hindrances. With the growing economy, Sri Lanka continues to show a significant shift towards luxury real estate. We believe in developing product offerings with the highest value proposition and world class quality that caters to this increasing demand.”
Having commenced construction in the fourth quarter of 2016, 447 Luna Tower is located in the heart of Colombo at Union Place and offers investors an affordable yet unique value proposition through a 44-storey architectural masterpiece accommodating 202 spacious apartments. Ensuring complete convenience, the apartment is located within close proximity to the Central Business District, leading schools and hospitals, and a variety of entertainment options in the area.
Designed with a clear focus on aesthetics, the building is themed to inculcate the sentiment of relaxation and recreation throughout each floor. Exclusive to its residents, the apartment is further equipped with facilities and amenities that offer a 360-lifestyle solution. 6 show apartments have been completed on the 18th floor and are available for viewing to inspect the quality of the finishes. With a payment of 20% of the total price, investors can buy into the offering and pay the remaining 80% at handover.
447 Luna Tower has been designed and constructed in consultation with Japanese engineers thus ensuring technical and structural expertise throughout the construction process. A team of representatives from Belluna Co. Ltd regularly inspects the quality of construction to reaffirm their unwavering commitment towards delivering only the highest quality offering.
With a growing purpose towards redefining heights of luxury, Belluna Co.’s other investments in Sri Lanka consist of a 300-room city hotel on Marine Drive in Colombo 3, set for completion in 2020, and the aesthetically alluring resort known as Le Grand Galle.