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Keppetipola
Mawatha Housing
Project

Jawatta Road,
Meckenzie Road,
Don Carolis Mawatha,
Joseph Frazer Mawatha
Keppetipola Mawatha

removing the existing
government quarters.

Cabinet Decision – PFD/PMD/CM/2011/112
Project Area
600 apartments
1500 sq.ft.
USD 150,000 per
apartment
Total Cost USD 90
million
LAND PRICE
USD 51,000 /
25sqmt (perch)

70 Summit Flats
1090 sq.ft. floor area
Construction of Apartments
•
•
•
•

600 apartments in 4 towers
Each tower in 20 floors will
Three housing types
Large - living and dining areas, 3
large bedrooms, 1 attached and 1
common toilet, a pantry, store area,
servants’ toilet and balconies.
• Each tower will be served with
parking floors to accommodate 150
vehicles,
• Each tower with 2 passenger
elevators and 2 stair cases.
Potential
Development Ideas
Apartment complex in 2
acres

Business center and Super
market 0.5 acre
International University /
school in 4 acres
Restaurant Complex 0.5 acre

Sports Complex 01 acres
Common areas 3 acres
The Formula
Total land area 16 acres
For the 04 towers 5 acres
Balance 11 acres on 99 year Lease to investor

Parks Road Ways and Open Spaces
“The market for real estate assets in Sri Lanka has shown a significant
growth phenomenon since 2009 with a marked increase in price levels of
real estate assets including bare lands, residential housing, commercial
premises and condominium style apartments. Increased foreign
investment interest in prime blocks of commercial lands in
the city of Colombo, the acquisition and resale of leisure properties by
private investors and a general increase in confidence levels of household
investors is likely to have fueled the development of Sri Lanka’s property
market during the past 24 months. ..”

KPMG

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Keppetipola Mawatha Housing Project

  • 1. Keppetipola Mawatha Housing Project Jawatta Road, Meckenzie Road, Don Carolis Mawatha, Joseph Frazer Mawatha Keppetipola Mawatha removing the existing government quarters. Cabinet Decision – PFD/PMD/CM/2011/112
  • 3. 600 apartments 1500 sq.ft. USD 150,000 per apartment Total Cost USD 90 million LAND PRICE USD 51,000 / 25sqmt (perch) 70 Summit Flats 1090 sq.ft. floor area
  • 4. Construction of Apartments • • • • 600 apartments in 4 towers Each tower in 20 floors will Three housing types Large - living and dining areas, 3 large bedrooms, 1 attached and 1 common toilet, a pantry, store area, servants’ toilet and balconies. • Each tower will be served with parking floors to accommodate 150 vehicles, • Each tower with 2 passenger elevators and 2 stair cases.
  • 5. Potential Development Ideas Apartment complex in 2 acres Business center and Super market 0.5 acre International University / school in 4 acres Restaurant Complex 0.5 acre Sports Complex 01 acres Common areas 3 acres
  • 6. The Formula Total land area 16 acres For the 04 towers 5 acres Balance 11 acres on 99 year Lease to investor Parks Road Ways and Open Spaces
  • 7. “The market for real estate assets in Sri Lanka has shown a significant growth phenomenon since 2009 with a marked increase in price levels of real estate assets including bare lands, residential housing, commercial premises and condominium style apartments. Increased foreign investment interest in prime blocks of commercial lands in the city of Colombo, the acquisition and resale of leisure properties by private investors and a general increase in confidence levels of household investors is likely to have fueled the development of Sri Lanka’s property market during the past 24 months. ..” KPMG