Archive: News Release

“Altair will define Colombo’s skyline”: Shapoorji Pallonji CEO

June 20, 2019

“Cities must have iconic buildings and structures; this is key to a city’s uniqueness and character,” says Mohandas Saini, Managing Director and CEO of Shapoorji Pallonji International. Akin to how Manhattan is defined by the Empire State Building, Kuala Lumpur by the Petronas Towers and Dubai by the Burj Khalifa. Saini made these remarks on one of his periodic visits to Colombo to review Altair’s progress, scheduled to complete in end-2019.

S & P CEO Mohandas Saini

Shapoorji Pallonji & Co. Ltd., regarded as one of India’s most valuable private companies with a legacy spanning over 150 years, is no stranger to such iconic construction projects. The company was the main contractor of the tallest residential development in India, the 60-story ‘Imperial Towers’ in Toledo Mumbai, completed in 2010. Other iconic projects by global construction giant include the palace of Sultan Qaboos Bin Said Al Said of Oman, Park Towers Dubai, Taj International Hotel Mumbai and the Hilton Riyadh.

Altair, adjudged the best condo in Asia for architectural design at the 2018 Asia Property Awards, was designed by Moshe Safdie, a pre-eminent architect of our time. Safdie’s works can be found across the globe and have become revered regional and national landmarks, including Yad Vashem Holocaust Museum, Jerusalem; Kauffman Center for the Performing Arts, Kansas City; United States Institute of Peace Headquarters, Washington DC; and Marina Bay Sands Integrated Resort, Singapore.

The unique design of Altair incorporates a 63-story inclined tower connected to the 69-story vertical tower via a strong outrigger at the 39th level. At the height of 240m, the vertical tower is now the tallest residential building in Sri Lanka

The inclined tower utilises structural steel diagonal grids on the exterior of the building giving a permeable surface for expansive floor to ceiling windows as well as acting as a load bearing membrane, minimising the use of interior columns. According to Mohandas Saini, these unique design features led to a particularly complex project from a construction standpoint due to the high degree of precision work required to maintain uniformity that cannot be achieved through traditional fast-tracked methodologies that are commonplace now in high-rise construction in Sri Lanka. Despite the challenges, the superstructure construction work was carried out at a commendable speed with ‘one floor added almost every week’, notes the CEO.

Commenting on the outcome of the superstructure works Saini remarks, “The entire weight distribution was so well engineered, and the workmanship is of such good quality that the level of deviation from original specifications were substantially lower than allowable structural engineering tolerances.”

Structural engineers to this project have been Dubai based Predag Eror of Derby Design, and well known Sri Lankan structural engineer, Deepal Wickremesinghe. Structural elements of the building were independently verified by the University of Moratuwa.

The CEO also says that Shapoorji Pallonji has earned their global reputation not only for their expertise in construction, but for their enduring commitment for the projects they undertake. “We believe in long-term value-added relationships with all stakeholders, often investing our own money in projects we undertake, as we have done so in Altair.” The main shareholder of this $ 250 million project is Kolkata based South City Group, a consortium of firms which has collectively delivered over 150 real estate projects consisting of more than 15 million square feet.

Along with Altair, Shapoorji Pallonji is involved in four other projects in Sri Lanka, including an office building and a water supply project. The CEO remarked that his company is considering engaging in a public-private partnership with the Government with regards to another key project and are open for further investment opportunities in the country.

Speaking of his experience of working in Sri Lanka, Saini says that local engineers have excellent skills and expertise. However, the company had to resort to employing a large foreign workforce due to the shortage of skilled labourers and specialised technicians in the domestic market.

Taken from Daily FT

Altair a top attraction at Maldives Living Expo 2019

February 26, 2019

From left: Altair Director Pradeep Moraes with Chief Guest Maldivian Minister of Housing Aminath Athifa and members of the Altair team that participated in the Maldives Living Expo 2019

Sixteen months after structural construction was completed, Sri Lanka’s showpiece high-rise Altair continues to be an attention-grabber in markets around the world with the latest being the Maldives, where the development was one of the biggest attractions at the country’s longest-running property show. The Maldives Living Expo 2019, which was supported by Altair both as an exhibitor and a co-sponsor, attracted more than 5,800 visitors interested in luxury living options in the archipelago and the region. In its seventh edition, the three-day exhibition focused on home and living lifestyle, offering visitors an opportunity to get more information about upcoming real estate properties, products, services and options available in the Maldives and neighbouring countries. The 30 exhibitors showcased properties ranging from the utmost luxury to affordable living and lifestyle options.

Sri Lanka’s most distinctive and instantly recognised high-rise, Altair is a one-of-its-kind development in South Asia in terms of architectural design, structural engineering, and living experience. The building comprises of two tower blocks, a 63-storey sloping tower which leans in to a taller 68-storey vertical tower. Acknowledged as a new paradigm in contemporary living in Sri Lanka, the Altair building has already brought a new dimension in aesthetics to Colombo’s skyline and offers its 400 apartments spectacular views of the Beira Lake, the Indian Ocean and the city of Colombo.

Taken from FT.lk

Altair Adjudged Best Condo in Asia for Architectural Design

November 16, 2018

Beats contenders from 15 countries including Singapore, Japan and Australia at 2018 Asia Property Awards of Property Guru Asia

Sri Lanka’s contemporary architectural masterpiece Altair has beaten condominium developments in 15 countries in Asia including Singapore, Hong Kong, Japan, China and Australia, to win the ‘Best Condo Architectural Design Award’at the 2018 Asia Real Estate Summit (ARES) hosted by PropertyGuru Asia in Bangkok, Thailand.

The only Sri Lankan high-rise ever to be adjudged the best in Asia, Altair was honoured at PropertyGuru’s ‘Best of the Best’ awards, at which individual winners selected at country award events throughout the year, were contenders.

Markets from Sri Lanka to China competed at the largest Grand Final event to date of the 13 year old Asia Property Awards, attended by more than 500 guests, with developers from Japan and Australia making their debut at the ceremony. The countries that competed for awards were Singapore, Thailand, Malaysia, Indonesia, Vietnam, Sri Lanka, China, Hong Kong, Macau, Mongolia, Australia, Japan, Philippines, Myanmar and Cambodia.

“We are justifiably elated at winning this award, which is a tribute to the architectural genius of Moshe Safdie and the vision and courage of the promoters of the project, who had confidence, not only in their ability to build Altair, but also in the market’s potential to do justice to such a  remarkable edifice,” Mr Moraes commented. “The word icon is sadly overused today, but by  winning this award we have emphatically shown why Altair richly deserves that adjective.’

Among the condominium developments that competed for the ‘BestCondo Architectural Desing in Asia award were ‘8St Thomas’by Bukit Sembawang Estates Limited, Singapore; ‘Alpha City’ by Alpha King, Vietnam; ‘Glorious Mansion’ by Long For Group Holdings Limited, China; ‘Mount Pavilia’ by New World Development Company Limited, Hong Kong; ‘Scenia.Bay’ by Nam Tien Lao Cai Jsc. Co,, Vietnam; ‘Sunplay The Heights Bangsaray’ by Sunplay Asia Limited, Thailand; ‘stirling Residences’ by LN Development (Stirling) Pte Ltd., Singapore; ‘Taman Anggrek Residences’by Agung Sedayu Group, lndonesia; ‘TheCUVEE’by Chaopraya Mahanakorn Public Company Limited, Thailand; ‘The Smith’ by Triniti Land, Indonesia and The Vales’by Anchorvale Residences Pte Ltd., Singapore.

Speaking at the awards event, Terry Blackburn, Managing Director, Asia Property Awards and Property Report of Property Guru noted that “Today, Asia has the fastest growing economies and most exciting real estate markets in the world, and the majority of award winners are Asian developers selling to Asian buyers and are helping millions achieve the dream of home ownership.” He also expressed the hope that the years the Asia Property Awards have spent promoting Sustainable Development, Green Buildings and Corporate Social Responsibility, have in some small way, contributed to the conversation on what the best Asia should look like in the future.

The region’s biggest and most prestigious real estate awards series, the PropertyGuru Asia Property Awards are recognised as the ultimate hallmark of industry excellence in the Asian property sector. Headquartered in Singapore, the PropertyGuru Group is Asia’s foremost online property company and has been voted ‘Asia’s Most lnfluential Brand for Online Property Search’by consumers. PropertyGuru helps over 16 million people find their dream home every month.

At the 2018 PropertyGuru Asia Property Awards in Colombo, a precursor to the Grand Finale in Bangkok, Altair took the major honours winning the Overall Award for ‘Best Condominium Development’and the awards for ‘Best Luxury Condo Development (Colombo)’and ‘Best Luxury Condo Architectural Design (Colombo)’while its only Sri Lankan Director Mr Pradeep Moraes was named ‘Real Estate Personality of the Year.’

Sri Lanka’s most distinctive and instantly recognised high-rise, Altair is a one-of-its-kind development in South Asia in terms of architectural design, structural engineering, and living experience. With structural construction completed and 70 per cent of its apartments sold, Altair is scheduled to commence the handing over of apartments to buyers in March 2019.

The building comprises of two tower blocks, a 63-storey sloping tower which leans in to a taller, 68- storey vertical tower. Acknowledged as a new paradigm in contemporary living in Sri Lanka, the Altair building has already brought a new dimension in aesthetics to Colombo’s skyline and offers its 400 apartments spectacular views of the Beira Lake, the Indian Ocean and the city of Colombo. The development’s 1.5 million square feet of high-end eco-friendly living space is supported by 40,000 square feet of up-market retail space.

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Altair awarded four prestigious awards at the Asia Property awards (Sri Lanka) by Property Guru

August 2, 2018

 

Altair was awarded four prestigious awards at the recently concluded Asia Property awards (Sri Lanka) by Property Guru. The awards include ‘Best Luxury Condo Development (Colombo)’, ‘Best Luxury Condo Architectural Design’, ‘Best Condo Development (Sri Lanka)’. And Pradeep Moraes, Director, Indocean Developers of Altair was also awarded for the first time ever ‘Sri Lanka Real Estate Personality of the Year’.

 

 

Pradeep Moraes of Altair named PropertyGuru’s first-ever Sri Lanka Real Estate Personality

July 10, 2018

 

The PropertyGuru Asia Property Awards (Sri Lanka) competition, which is being held for the very first time in Colombo on 12 July 2018, has chosen its first-ever Sri Lanka Real Estate Personality of the Year.

Pradeep Moraes, director at Indocean Developers – the company behind the twin tower Altair, designed by celebrated architect Moshe Safdie – has been selected to receive the prestigious honour by the editors of PropertyGuru Property Report magazine.
“We are recognising Pradeep Moraes’s contributions to raise standards in the local real estate sector as well as his work as chairman of the Condominium Developers Association of Sri Lanka,” the magazine said.

The career of Moraes spans more than four decades and covers a wide range of industries, including fast-moving consumer goods (FMCG), aviation, advertising, automobiles, industrial marketing, communications and broadcasting, security, and property development.
After 10 years heading the sales and marketing division of John Keells Development, Moraes joined Indocean Developers (Pvt) Ltd as president of sales and marketing in 2013 and was appointed to the board as its sole Sri Lankan director two years later.

One of the biggest and most ambitious projects of his career is Altair, which has been conceptualised to be one of the tallest residential towers in Sri Lanka. The project is up for Best Luxury Condo Development (Colombo) and Best Luxury Condo Architectural Design at the 2018 PropertyGuru Asia Property Awards (Sri Lanka) competition.

 

Bringing Colombo to the forefront of global architectural excellence

“Euphoric is the best description of how I feel at being chosen as the first Sri Lankan to be bestowed with this award, more so in light of the exalted company of previous winners from the region,” Moraes said of his selection.

“I would like to dedicate this award to the promoters of Altair for giving me the opportunity and the exposure, and for bringing Colombo to the forefront of global architectural excellence with the iconic edifice that is Altair.”

Moraes believes that Sri Lankan real estate has witnessed “vibrant and sustainable growth,” propelled by consistent capital appreciation and rental yields, changing lifestyles of consumers, and confidence shown by foreign investors.
“I would go a step further and also dedicate my award to all the foreign developers, who, with their investments, declared and demonstrated their faith in Sri Lanka’s real estate industry,” he said.

 

Among elite company

The award puts Pradeep Moraes among the top leaders of the global real estate industry.

Previous winners of this elite award for the Asia Pacific region include former Philippine senate president Manny Villar of Vista Land Group, Thailand’s richest woman Supaluck Umpujh of The Mall Group, American-born Thai magnate William “Bill” E. Heinecke of Minor Hotels, British-Asian billionaire Gulu Lalvani, formerly of Royal Phuket Marina, Indonesian tycoon Candra Ciputra of PT Ciputra Development Tbk, Malaysian entrepreneur Dato’ Seri Abd Wahab Maskan of Sime Darby Property, Myanmar’s top businessman Serge Pun of SPA Group of Companies, Cambodian tycoon Rithy Sear of Worldbridge Cambodia, and Hong Kong’s Dr Allan Zeman, father of Lan Kwai Fong.

 

Using CSR to promote interracial and inter-religious amity

In addition to Moraes’s work at Altair, he has also pushed to promote corporate social responsibility (CSR) in the country.

Among Altair’s ongoing CSR projects include supporting Gangarama Temple initiatives and providing daily meals for the last four years now to 150 religious inmates and staff of the Little Sisters of the Poor (a home for the aged run by Catholic nuns catering to inmates of any religion). Altair also spearheaded the erection of a Hindu shrine in the heart of Colombo, on land belonging to a Buddhist temple, for interracial and inter-religious amity.

The Sri Lanka Real Estate Personality of the Year award will be presented by PropertyGuru’s chief operating officer Jeremy Williams during an exclusive, black-tie gala dinner on 12 July 2018 at the Shangri-La Hotel, Colombo ballroom. Sri Lanka’s Megapolis and Western Development Minister Champika Ranawaka has been confirmed to deliver the keynote address.

More than a dozen companies have been shortlisted for the industry’s highest honours to celebrate excellence in the vibrant Sri Lankan real estate sector. Around 300 guests and select members of the press are attending the historic ceremony.

 

Altair sponsors 146th AGM of Colombo Club

January 16, 2018

 

Altair, Colombo’s most distinctive luxury living marque, was the sponsor of the 146th Annual General Meeting and gala dinner of the Colombo Club, one of the oldest and most exclusive social clubs in Asia.

As part of its support to this elegant event, Altair sponsored two Business Class return tickets to Singapore and several other prizes presented to the winners of a raffle draw for members of the club. This was the second consecutive year that Altair was associated with this prestigious organisation as the sponsor of its AGM.

Taken from dailymirror.lk

 

Altair felicitates Moshe Safdie

March 8, 2017

The management of Altair recently hosted an event at the Hilton to felicitate Moshe Safdie, the Altair project’s architect and architect of Marina Bay Sands in Singapore and many other iconic buildings.

 

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Taken from FT.lk

Moshe Safdie’s visit to Altair Colombo

February 16, 2017

Here are some captures from Moshe Safdie’s recent visit to Altair.

 

Altair adds 6 floors in a month

September 27, 2016

ft-27-09-2016-1

A modern-day architectural marvel is taking physical shape before Colombo’s eyes, as Altair’s iconic twin towers rises into the city sky at remarkable speed, a press release stated.

It added that promoter Indocean Developers reports that the building gained six floors in August 2016 — a benchmark given the intricacies of its structural design — and had reached its 32 level by the third week of September”.
“Designed by the celebrated global architectural genius Moshe Safdie, Altair will on completion in 2017 comprise of a 63-storey ‘leaning’ tower and a taller 68-storey vertical tower. It will have 400 luxury apartments that offer spectacular views of the Beira Lake, the Indian Ocean and the city of Colombo”, the release added.

“We are making excellent progress and are on schedule,” said SWA Project Manager and Altair’s Project Management Consultant, J. Domingo.
“Casting six floors in a month while ensuring International Specification Requirements pertaining to quality and safety is a new benchmark in the Sri Lankan construction industry”, he added.

“Altair’s local structural engineer Deepal Wickramasinghe commended the project’s contractor Shapoorji Pallonji Lanka Limited for the feat of building six floors in a month, despite the inherent structural complexities and composite nature of the construction that requires involvement of multiple trades” it added.

“Achieving completion of six floors a month in a masterpiece of its kind, while overcoming the logistic challenges and managing the cultural change involving various stakeholders is indeed a hard task,” Shapoorji Pallonji Lanka Limited, Project Director Baiju Ramakrishnan added. “Our commitment, dedication, hard work and international expertise in high rise construction are the factors that have made this possible”.

“Designed to be a game changer in contemporary living in Sri Lanka, Altair will bring a new dimension in aesthetics to Colombo’s skyline. It is intended to be a one-of-its-kind development in South Asia in terms of architectural design, structural engineering, and living experience. 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”, the release added.

“Breaking new ground in the local property development market, Altair has installed a 24-hour live stream from its construction site, enabling anyone to monitor progress. The live feed can be accessed via the Altair website www.altair.lk from anywhere in the world. It provides a real-time view of construction work from five different angles, with the views switching every 12 seconds’ it further added.

Extracted from Ceylon Today

Jayamal Dias joins Altair as Head of Sales, Marketing

July 28, 2016

z_piii-jayamal

Indocean Developers, the promoter of the Altair twin tower high rise, has announced the appointment effective July 15, of Jay Dias as Head of Sales and Marketing.

Dias was till recently Head of Sales for City Hotels at Cinnamon Hotels & Resorts and was previously the Director Sales and Marketing at the John Keells Subsidiary Asian Hotels & Properties PLC (Cinnamon Grand Colombo).

Announcing the appointment, Indocean Developers Director Jaideep Halwasiya said it signifies the company’s long-term commitment to Sri Lanka and its interest in further investments beyond Altair.

“Jay has developed an impressive contact base in the high net worth segment, has interacted extensively with individuals in this segment and understands the high-end property market,” Indocean Developers Director Pradeep Moraes said. “While significantly strengthening our sales and Marketing team, his presence will enhance our capacity to explore new opportunities in Sri Lanka.”

Educated at Royal College, Colombo and the holder of a Bachelor’s Degree in Banking and Finance from the University of London, Jay Dias has also acquired professional training in Change Management from Harvard Business Publishing and in Conceptual Selling and Strategic Selling from Miller Heiman.

At John Keells, he led sales and marketing activities for the Group’s city sector properties Cinnamon Grand, Cinnamon Lakeside and Cinnamon Red, and was a member of John Keells’ General Management Committee where all strategic decisions are made with regard to the Group’s Leisure sector.

Prior to John Keells, Dias was attached to the apparel sector with Avery Dennison (A fortune 500 Company) in the capacity of Global Account Manager.

“Altair is by far the most exciting and game-changing property development in Sri Lanka today, and I am delighted to be part of it,” Dias said. “It represents a defining benchmark in luxury high rise living not just for Sri Lanka, but for the South Asian region, and is a dream product to market and sell.”

Designed to be a new echelon in contemporary living in Sri Lanka, Altair will also bring a new dimension in aesthetics to Colombo’s skyline. It is intended to be a one-of-its-kind development in South Asia in terms of architectural design, structural engineering, and living experience.

Indocean Developers is a venture of the six conglomerates that make up the South City Group, which brings together over 150 years of cumulative development experience. 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.

Extracted from Daily News