Dusit Thani Sri Lanka, Beachfront Balapitiya announced partnership with Chestertons International for Sri Lanka’s one and only beach front, luxury, high-rise, investment apartments available to foreign investors.
Through the recent partnership with Chestertons, The Beachfront Balapitiya (an Indola Group development), managed by luxury brand and world-renowned hospitality leader, Dusit International, is poised to become the final frontier in beachside luxury living in Sri Lanka, available to foreign investors.
The luxury high-rise development offers 330 designer fitted, beach front apartments as one, two and three bedrooms boasting spectacular ocean and beach views, priced from just $ 244,000 (plus taxes). Investors receive a freehold title, guaranteed returns of 6% nett for five years per annum, paid quarterly in US$, the potential of approximately 30% in capital gains in two years and no on-going costs. Additionally, apartment owners can avail of a 21-day free stay per annum.
“Partnerships between power-houses are known to be successful and we are delighted to be in partnership with Chestertons International. While The Beachfront will offer a one of a kind product to not only fill the luxury-resort market deficit in Sri Lanka but also guarantee our international investors sufficient financial rewards, Chestertons will complement the project by driving sales to the wider UK audience and further afield,” commented Indola Group Director Paul Dwyer.
Concluding on the partnership, Indola Group Director Ajit Wijesinghe mentioned, “As the one and only beach front, luxury investment apartments in the whole of Sri Lanka open to foreign investors; offering incredible gains and with Chestertons, one of UK’s leading project marketers, driving sales in the international market, the development is undoubtedly going to be met with unmatched interest and we look forward to seeing the results.”
Chestertons International Director of International Sales Neville Page commented, “As one of our key objectives is to offer our clients the widest selection of international, high-quality properties alongside expertise on local markets, the addition of The Beachfront Balapitiya development in Sri Lanka is a great step forward. Within recent years Sri Lanka has experienced a huge degree of interest from international buyers and The Beachfront in particular is expected to bring in high demand because of the brand prestige that comes with being Dusit Thani.”
With having recently made available a limited release of 40 out of 121 apartments (in stage 1 only), Dusit Thani Sri Lanka have sold an outstanding 80%. The property will be erected in three stages, with the addition of a promenade featuring 15 international restaurants, bars and cafes, a spa, sauna and gymnasium. Construction is scheduled to begin at the latter part of 2016.
The partnership with Chestertons is the first international agent agreement made by Dusit Thani Sri Lanka and the first for Chestertons as they enter the Sri Lankan real estate market.
Chestertons was originally established in the UK in 1805 and grew to become one of the most recognised and highly respected names in property. Today, Chestertons operates a network of over 75 international offices, across five continents and 12 countries and boasts over 50 years of experience in the international market.