The Condominium Developers Association of Sri Lanka (CDASL) is lobbying for ongoing projects to be granted an exemption from the newly introduced output Value Added Tax (VAT) on apartment sales.

The growth of tourism and Sri Lanka’s probable emergence as the main commercial and financial centre between Singapore and Dubai with the rise of the Colombo Port City, augur well for the country’s condominium market, a business leader in the sector said recently.

Mr Pradeep Moraes in his capacity as the Chairman of the condominium developers association of Sri Lanka has issued a statement refuting the damaging Sunday Times article under Right of Reply.  The letter in full is produced below.

PropertyGuru, Asia’s leading property technology company and the host of the region’s largest real estate awards, officially opened the nominations and entries period for its prestigious competition in Colombo recently.

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.

While the painting of the Altair straight and sloping towers continue the fixation of glass windows to the individual structures are also underway.

Moshe Safdie, the architect of Altair, has been named the Laureate in Architecture by the jury committee for the 2019 Wolf Prize.

Altair completed outer structure light up for the holiday season. While the painting of the Altair continues the roof top sky garden and infinity pool is also taking shape .

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.