Sri Lanka: Transworks Square Tower To Be 6th Tallest In South Asia
The constriction of Sri Lanka’s tallest building, the 92 story commercial and Residential Tower of ‘The One Transworks Square (Pvt) Ltd’ will commence next year and would be completed in three years, said Chief Executive Officer and Director of The One Transworks Square, Janaki Siriwardhana.
When completed it would be among the top 6 tallest buildings in South Asia.
She also said that The One Transworks Square (Pvt) Ltd’ also was placed among Asia’s finest real estate players at the PropertyGuru Asia Property Awards 2019 held in Bangkok when it secured the title, ‘Best Mixed Use Development (Asia).This was for ‘The One’ state of the art design and on time delivery for its towers. “The One project beat 8 other nominees from Australia, China, Malaysia, Hong Kong, Thailand, Philippines and Myanmar.
The 80 storeyed 326 meter Ritz-Carlton Tower will house the Ritz-Carlton Hotel and Residences and this tower has reached 42 floors which means 20% of work has been completed and would be opened in 2021 December. The second tower, which stands at 310 meters and covers 77 floors, will house the JW Marriott Hotel and Residences and 5% of this has been completed.The total investment for the project is US$ 560 million and around US$ 180 million has been invested so far.
“It’s truly an honour to be recognised for the work that we do. This award is a testimony of our commitment and teamwork to excellence in luxury real estate. The One – Sri Lanka will redefine the city of Colombo and help position the country as a must go destination for the business and leisure traveller and we’re incredibly proud to bring this award to Sri Lanka,” said Chief Marketing Officer of The One Transworks Square, Jaideep Wahi.
He also said that this since Ritz-Carlton Residential tower is the first internationally recognised Residency in Sri Lanka; the investor appetite is very high especially from China and Australia.
Director CEO of The One Transworks Square Prof. Chitra Weddikkara, said that Chinese and Sri Lankan architecture and design has been blended in all three towers.
She said that with the Port City project now progressing there would be new demand for high end apartments like Ritz-Carlton Residences. “There would not be an oversupply.”