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Sri Lanka’s landmark real-estate icon: ALTAIR declared open

October 27, 2021

Hon. Namal Rajapaksa, Minister of Youth and Sports addressing the esteemed gathering

Altair Colombo, beknown for its unique and acclaimed architectural value and splendorous addi:on redefining the skyline of Colombo, in par with the ongoing real-estate boom, to the new Colombo Skyline, was ceremoniously declared open today (27th October 2021) by the Prime Minister, Honourable Mahinda Rajapaksa.

The ceremonial opening of the iconic residen:al towers denotes the epitome of posi:ve and expedient economic backing of neighbouring India to Sri Lanka, with Altair notably, being the biggest FDI investment in Colombo for real estate to date and the only FDI investment from the South City Group of Kolkata, an Indian investor in Sri Lanka of its calibre. Altair, therefore, is truly a symbol and a showpiece of the foreign investment poten:al in the real estate industry in Sri Lanka for all enthusias:c investors around the globe.

Alongside Hon. Mahinda Rajapaksa, the grand opening of Altair was held under the auspices of Special Guest Minister of Youth & Sports, Minister of Development Co-ordina:on and Monitoring and State Minister of Digital Technology and Enterprise Development, Hon. Namal Rajapaksa, Indian High Commissioner (Guest of Honour) HE. Gopal Baglay, Dr. Nalaka Godahewa, Mr. Sirinimal Perera (Special Authorized Officer- Altair Project), Mr. Sushil Mohta, Mr. Jugal Khetawat, Mr. Rajendra Bachhawat, Mr. Prakash Bachhawat (Directors/ Shareholders of South City Projects Kolkata Ltd) and Mr. Manmohan Bagree, Director Indo- cean Developers Pvt Ltd

The event also exemplifies that customers are now able to ini:ate the fit-outs of the apart- ments through a phased out schedule with the total sold apartments ready to be handed over within the next few weeks.

Since, there were architectural and engineering challenges that encompassed unto crea:on of one-of-its kind edifice, the construc:on and finishing of ALTAIR posed many complexi:es which affected construc:on schedules. Therefore, as the main developer, Indocean (Pvt) Limited., the local subsidy of the world-renowned South City Projects (Kolkata) Ltd expressed their delight over the accelera:on of the project progress in the last few months especially amidst the Covid 19 pandemic due to the significant support extended by the Government of Sri Lanka

The breath-taking real estate masterpiece is a crea:ve magnum opus of living legend Moshe Safdie, creator of Marina Bay Sands and the Jewel in Singapore and many other icons. AL- TAIR comprises 404 luxurious apartments spread across 1.5mn square feet on 68 floors with

ven:la:on, light, privacy and op:mally laid out living spaces as its’ design guidance.

With the full comple:on and the commencement of the handover process, Indocean Devel- opers Pvt Ltd are confident that the lifestyle facelif that Altair would bring into Sri Lanka

with sophisticated brand experience would become a true value addition to the vibrant cosmopolitan lifestyle in new Colombo.

Altair; the architectural miracle
Guest of Honour H.E. Gopal Baglay addressing the gathering
Sushil Mohta, Director/Shareholder, South City Projects (Kolkata) Ltd. sharing his thoughts on the success of Altair project