Luxury condominiums in Colombo

Development Progress – September

September 27, 2016

The latest images of Altair, soon to grace Colombo’s skyline with luxurious living. Scheduled to open in 2018.

Altair hosts Senior Bankers for Gourmet Dinner

May 27, 2016



Extracted from Daily Mirror

Headed to be the iconic luxury apartments in Colombo, Altair hosted a gourmet dinner for Senior Bankers at the Hilton Colombo. –

Some of Sri Lanka’s most senior bankers came together recently at a networking dinner hosted by Indocean Developers, the promoter of the Altair luxury high-rise development in Colombo 2. The group comprised of Chairmen, Managing Directors, CEOs and Chief Operating Officers of leading local and international banks.

“Five top banks already offer home loans to buyers of Altair apartments, and several others are in discussions with us to do the same,” Altair Director Pradeep Moraes said. “The confidence of the banking community in the project is an important consideration to many prospective buyers.”  Designed by the celebrated global architect Moshe Safdie and projected 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.

Comprising of two tower blocks, one of 63 storeys which leans in to a taller, 68-storey tower, Altair will offer 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 will be supported by 40,000 square feet of supportive up-market retail space. The building is scheduled for completion in 2017.

Here are some captures from the night,

Development Progress – April

April 25, 2016

The latest images of Altair, soon to grace Colombo’s skyline with luxurious living. Scheduled to open in 2018.


Development Progress – March

March 24, 2016

The latest images of Altair, soon to grace Colombo’s skyline with luxurious living. Offering unique experiences filled flats in Sri Lanka. Scheduled to open in 2018.

Development Progress – January

January 22, 2016

The latest images of Altair, soon to grace Colombo’s skyline with luxurious living. Scheduled to open in 2018.

Get your share of the booming residential property market in Sri Lanka

September 28, 2015

The premium real estate market in Sri Lanka has been experiencing positive growth rates over the past decade. As a result the demand for condominia in and around Colombo has remained buoyant and is deemed by many as a lucrative investment opportunity. Altair Sri Lanka is one of the most talked about residential properties in Sri Lanka and is poised to transform the Colombo skyline with its bold and stunning design cues.

Altair will be among the tallest residential properties in Sri Lanka accommodating a total of 400 luxury apartments in the heart of the city. The building was designed by world renowned architect Moshe Safdie who is responsible for architectural masterpieces such as The Marina Bay Sands (Singapore), Kauffman Centre for Performing Arts (United States) and Habitat 67 (Canada). His work has been recognised by numerous international awards and accolades including the 2015 Gold Medal from the American Institute of Architects (AIA). The project is carried out by South City Projects, a firm that is synonymous with architectural excellence and has been in the industry for over 150 years.

Altair provides you with several options if you intend to invest in properties in Sri Lanka. These options include the Rental Guarantee Scheme which has become extremely popular among locals, Sri Lankan expats and foreign who seek to invest in properties in Sri Lanka.  This option provides peace of mind and the ability to receive a fixed income over an agreed period of time. The management of the property will also prove to be hassle-free under this scheme as it will be carried out by the property management company.

The premise of the Rental Guarantee Scheme offered by Altair Sri Lanka is to make the purchase of an apartment easier. Apartments are sold on the basis of a rental of 7% per annum based on a guaranteed sales price. Exchange control regulations allow for rental returns to be repatriated to any nominated overseas account provided that it is purchased in a foreign currency.  There are no restrictions on the number of apartments that can be bought by investors be it foreign or local and the legal framework of Sri Lanka allows the owners to sell the apartments without any hassle. Foreign investors who wish to sell will be able to cover their capital and capital gains whilst there is no capital gain tax on the sale of property for foreign residents.

The Rental Guarantee Programme from Altair covers a total of 30 type “F” apartments that come with two bedrooms, two bathrooms, a study, living/dining room, kitchen, maid’s bath, yard and a balcony that extends 131 square feet. Type “F” apartments at Altair Sri Lanka take up 1468 Square feet in total. Investors have the opportunity to choose any type “F” apartment from the 6th to the 37th floor.

Whilst there are many plans available for those who wish to invest in properties in Sri Lanka due to the booming residential property market in Sri Lanka, the rental guarantee scheme provided by Altair Sri Lanka ranks high as it provides an unmatchable value proposition which focuses heavily on the investors peace of mind, security, convenience and returns.

24/7 streaming is now live from the Altair construction site

September 10, 2015

Altair, the South Asia’s first promenade development and its unique structure will altar Colombo’s skyline forever. The US$3 billion construction company, Shapoorji Pallonji is the main contractor for Altair also for the Imperial of Mumbai and many skyscrapers of Dubai.

Indocean Developers recently introduced a live streaming from the Altair development site making it available to anyone who wishes to watch the construction and see Altair progress the luxury apartment complex.

Work on the towers is on schedule and will continue through for completion by 2017.

Development progress for July 2015

July 16, 2015

Altair, the upcoming first of its kind luxury condominiums in Sri Lanka developed by Indocean Developers is on schedule for its completion. Tremendous progress since June. See more of the progress on these images.



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Altair launches in Maldives to a massive reception

June 15, 2015

Altair,  Sri Lanka’s iconic luxury residential high-rise development launched to a receptive crowd in Maldives this week. In an event held at Hotel Jen in Male,  Altair team along with it’s local partners DAMAS Real Estate made presentations to prospective apartment buyers.

The event has already managed to create significant media buzz with several media outlets immediately publishing stories of the event.   These include articles in Vaguthu, Haveeru, Avas  and the Sun.

Being an Iconic development designed by celebrity architect Moshe Safdie, Altair offers a unique value proposition for foreign buyers as a lucrative investment opportunity as well as a luxury living arrangement in one of the tallest buildings in South Asia.

The Altair team is in Maldives till the 17 of June 2015  and can be contacted on +960 7502908 or +960 7503945

More Pictures from the event courtesy Vuguthu 



Development Progress for June

June 9, 2015

From achieving our first milestone, we have made tremendous development.  Altair, on schedule to stand at an incredible height of 240 meters upon completion and be one of the most iconic buildings of the Colombo skyline.

See more images