Indocean Developers Ltd., the promoter of the iconic Altair twin tower condominium development in Colombo, has announced the appointment of Pradeep Moraes and K.M. Sathian as Directors of the company with immediate effect.
The two appointees are already closely involved with the ongoing luxury residential project in senior executive capacities, Moraes as President Sales and Marketing, and Sathian as President Projects.
Moraes joined Indocean Developers after 10 years as Head of Sales and Marketing in the property group of John Keells Holdings through its subsidiaries Asian Hotels & Properties PLC, John Keells Residential Properties Ltd., and British Overseas Ltd., in which capacity he headed a team that sold over 750 high-end luxury apartments.
Educated at St. Benedict’s College, Colombo, and at Aquinas University College, he began his corporate life in the commercial aviation sector, working for Singapore Airlines, Cathay Pacific, Gulf Air and Air Lanka. He subsequently went into Brand Management in the FMCG sector, and general management and marketing with CEO responsibility, for several leading entities in spheres such as air freight, industrial marketing, advertising, automobiles, home entertainment, security, motor racing, broadcasting and telecommunications.
Sathian is a Civil Engineer with over 28 years of experience in the fields of engineering, procurement and construction of high-rise buildings, large residential and commercial townships, airports, hospitals and sports stadiums. He has accumulated more than 16 years of experience in the Middle East and North Africa (MENA) region with reputed companies such as Philipp Holzmann AG, WS Atkins, GHD Global Ltd. and East Consulting Engineering Centre.
In the seven years preceding his appointment with Altair, Sathian was the Project Head for the ‘Urbana’ township development, at 12 high-rise residential towers of 40 to 60 storeys each and 51 bungalows with all amenities spread over 65 acres of land, the single most significant development in Eastern India.
Altair is intended to be a one-of-its-kind development in South Asia in terms of architectural design, structural engineering, and living experience. It is projected to be a game changer in contemporary living that will bring a new dimension in aesthetics to Colombo’s skyline.
Comprising of two tower blocks, one of 63 storeys which leans into a taller, 68-storey tower, Altair, located at Sir James Peiris Mawatha, Colombo 2 (the former Colombo Commercial Co. property), will offer its 400 apartments spectacular views of the Beira Lake, the Indian Ocean and the city of Colombo. Designed by the globally-recognised celebrity architect Moshe Safdie, the development’s 1.5 million square feet of high-end eco-friendly living space, will be supported by 40,000 square feet of supportive up-market retail space. Altair residences is scheduled for completion in 2017.
Indocean is a joint venture of the six conglomerates that makes up the South City Group, which brings together over 150 years of cumulative development experience. One partner alone has a market capitalisation in excess of $ 2 billion, and the constituent partners of the Group have completed 50 million square feet of real estate development and currently have another 20 million square feet of space under construction.