Luxury condominiums in Sri Lanka

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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‘Apartments only 1.7% of Colombo’s living units’: Altair Director Pradeep Moraes

June 27, 2018


Contrary to popular perception, apartments currently account for only 1.7% of Colombo’s residential facilities despite the scarcity of land to cater to rapid urbanisation, an industry leader has disclosed.

Representing Altair as a Director of the iconic development and the Condominium Developers Association of Sri Lanka (CDASL) as its Chairman, Pradeep Moraes told the Sri Lanka Investment & Business Conclave (SLIBC) that even after the 12,000 apartments currently under construction are completed over the next three to four years, this figure would only rise to about 4 to 5%.

In contrast, apartments account for as much as 70% of living accommodation in central Kuala Lumpur, 80% of central Bangkok and 90% of central Mumbai, Moraes said.

Stressing that condominium living was the only solution to increasing urbanisation in areas like Colombo where land is in short supply, he pointed out that if the area occupied by the Altair project had been allocated for houses, it would have been able to accommodate 54 minimum-sized units at most, whereas the development’s twin towers offer 400 spacious luxury apartments, with as much as 45% of total space set aside for public areas, which is much more than the industry average.

The presentation, titled ‘Residential Condominium Market – Sri Lanka’ targeted principally at foreign delegates attending the conclave, highlighted both the emotional arguments and the business rationale that underpin the attraction of the property development sector in Colombo, the fastest growing city in the MasterCard Global Destination Cities Index of 2015.

Moraes also disclosed that 90% of luxury condominium purchases are equity based, and that on average, 65% of purchases are by resident Sri Lankans, 27% by expatriate Sri Lankans and 8% by foreigners.

Quoting the findings of the global real estate services firm Jones Lang Lasalle he said 98% of completed luxury condominium projects in Colombo are sold out, while on average, 47% of projects under construction are sold out. These findings aresupported by statistics from RIU (Research Intelligent Unit) whose corresponding figures are 99%and 49% respectively. In the case of Altair, more than two thirds of its apartments have been sold.

Altair was the Platinum Sponsor of the 2018 Sri Lanka Investment & Business Conclave, themed ‘Partnering for Prosperity.’ The event was attended by 131 foreign delegates, while 128 local participants were registered to attend. It was organised by the Ceylon Chamber of Commerce in association with four government ministries, the BOI, the EDB, the Department of Commerce and the Sri Lanka Conventions Bureau.

Taken from FT.lk


Development Progress – March 2017

March 22, 2017

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


Altair breaks new ground with live stream from construction site

June 9, 2016

Extracted from The Daily Mirror

Sri Lanka’s showpiece high-rise project Altair has broken new ground in the local property development market by installing a 24-hour live stream from construction site, enabling anyone to monitor progress.

A new dimension in transparency, 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.

“Approximately 45 percent of our customers are overseas buyers,” Altair Director Pradeep Moraes said. “This first-of-its-kind facility enables them to watch the building rise and take shape whenever they want to. It’s a simple and convenient way to track its progress.”

“Because of the iconic stature of the project and its unique architecture, there is also a great deal of public interest in the building, which is why we have made the live feed accessible to anyone who visits our website,” Moraes added.

By end-May, the twin towers of Altair had risen to the 16th level. On completion in 2017, the building will comprise of a 63-storey ‘leaning’ tower and a taller 68-storey vertical tower, with 400 luxury apartments that offer spectacular views of the Beira Lake, the Indian Ocean and the city of Colombo. The building is designed by the legendary global architect Moshe Safdie.

Visitors to the Altair website can go also follow the rise of the building over the past one year through a series of still images that depict monthly progress by clicking on the ‘News’ tab and selecting ‘Development Progress.’

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.

Development Progress – May

June 7, 2016

The latest images of Altair, soon to grace Colombo’s skyline. Offering unique living experience filled  luxury apartments in Colombo. Scheduled to open in 2018.

Completion of 1st Milestone – Casting of Tower Foundation

May 12, 2015

Foundation stages of both the Sloping and Vertical Towers in ALTAIR the stand out of luxury condominiums in Sri Lanka, have been successfully completed with the final raft casting of 3000 M³ being completed on 30th April 2015.


Accordingly, ALTAIR is firmly on track for timely completion to be one its kind Luxury Condominiums in Sri Lanka by December 2017.

The vicinity around Altair Luxury Residencies to become a major entertainment and recreational hub

March 20, 2015

The new government’s intention on reviving the Colombo Megapolis project include making the Beira Lake area a major entertainment and recreation hub.

More developments are on the horizon in Sri Lanka as plans to modernize Colombo and the greater Western Province into a regional hub are in full swing, with the assistance and support of a Singaporean firm (refer source below). The plan will revolutionize and transform the entire Western Province into one of South Asia’s most prominent region, housing around 8.3 million people and stretching all the way from Beruwala to Negombo with Colombo as the core city. Colombo, in particular, will evolve into a major centre capable of competing with other regional giants.

The Beira Lake region will become a key attraction of Colombo by evolving into its major entertainment and recreational hub. The area, already known for its beauty, will become an even more welcoming sight by hosting the Altair Sri Lanka luxury apartment towers among an array of entertainment and recreational options that would satisfy even the most insatiable entertainment enthusiast.

Amid increased business activity in southern Indian cities such as Chennai and Bangalore, the establishment of the Western Region Megapolis would instantly make it attractive to many foreign businesses. In addition to its appeal to foreign businesses, the plan is also very good for locals as it embodies a “live-work-plan” concept that promotes a higher quality of life by enabling people to live within close proximity to their workplaces. It is clear that this plan will not only benefit business but also the day-to-day livelihoods of Sri Lankans and it’s foreign residents.

Greater regional planning and organization will make the region instantly become a beacon of investment, prime real estate and luxury in South Asia. With luxury and revolutionary development projects like Altair Sri Lanka already underway, this initiative will undoubtedly lead to greater property investment and the accentuation of Colombo as the crème de la crème of South Asian mega-cities. Luxury Condominiums in Sri Lanka.

For more on this topic: http://goo.gl/DMv6AD, http://goo.gl/F7M5jy

Altair pioneers partnership with Quintessentially Lifestyle

January 23, 2015

Altair, Sri Lanka’s trend-defining luxury residential development, has announced an exclusive partnership with Quintessentially Lifestyle, the global private members club and concierge service, to offer an onsite concierge service that will provide its residents with access to services and benefits around the world.

Owners of the residential properties in Sri Lanka will have access to the services of a dedicated Quintessentially Lifestyle concierge desk located on site – a first in Sri Lanka.

From finding a suitable car service, reservation at an acclaimed restaurant, accessing tickets to world class shows and events; to arranging children’s birthday parties and gifts, to helping create the ultimate proposal or once in a lifetime honeymoon; Quintessentially Lifestyle will be on hand to help, however extraordinary or ordinary the request may be.

Since its inception in Soho, London in 2000, Quintessentially Lifestyle has been providing Members with award-winning concierge services. From giving specialist advice and exclusive benefits to unparalleled access to the world’s most exclusive, and elusive, luxury brands; Quintessentially Lifestyle continues to redefine the luxury lifestyle, by consistently improving its service offering and raising the bar for the luxury industry.
The global concierge service unique to Quintessentially Lifestyle will be available to residents of Altair to enrich their travel and lifestyle experiences with the expertise of the company’s team of 1,500 concierge experts speaking over 25 languages around the world.

“From concept stage onwards, Altair has distinguished itself as a benchmark for luxury living, rather than a generic high rise condominium,” said Pradeep Moraes, Director of Indocean Developers. “Our exclusive partnership with Quintessentially Lifestyle is an additional facet to Altair’s special brand of luxury living and serves as yet another example of Indocean’s determination to continuously exceed customer expectations.”

“The inclusion of an exclusive and accomplished Concierge Service will further enhance the appeal that Altair holds out to international buyers, which is a part of the message we will take to our audiences in Singapore and Dubai through roadshows scheduled for February,” he added.

Niro Cooke, Director Quintessentially Lifestyle, said: “Altair is the very first real estate developer in Sri Lanka to adopt world class services such as Quintessentially Lifestyle in to its product offering. It is an extremely positive sign for the real estate industry, and we look forward to working with Altair over the coming years. Ultimately, our relationships are about time and access, that is what partnering with us means. Residents of Altair will have access to the core of Quintessentially Group’s specialists who work tirelessly to source ideas and offer local ‘insider’ recommendations for where to travel, what to eat, buy, and do around the world. Our Lifestyle Managers arrange it all.”

In a description of Quintessentially Lifestyle, the New York Times has stated that “The company that transformed the idea of concierge services into ‘lifestyle management’ is Quintessentially Lifestyle.”

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 in to a taller, 68-storey tower, located at Sir James Peiris Mawatha, Colombo 2 (the former Colombo Commercial Co. property), Altair 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. The building is scheduled for completion in 2017.

Altair developer Indocean is a joint venture of the six conglomerates that make up the South City Group, which brings together over 150 years of cumulative development experience. One company in the Group alone has a market capitalisation of over $ 3 billion. 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.

Development Progress for January 2015

January 22, 2015

The Luxury apartment complex offering unique apartments for sale in Colombo, Altair is currently being built in line with international standards.Once completed the iconic building will stand at a staggering 240 meters and will be one of the tallest buildings in Colombo. Altair, on track to be one its kind Luxury Condominiums in Sri Lanka.

Development Progress for December 2014

December 12, 2014

The Luxury apartment complex Altair is currently being built in line with international standards.Once completed the iconic building will stand at a staggering 240 meters and will be one of the tallest buildings in Colombo offering apartments for sale in Colombo Sri Lanka. The raft section of the second basement has been completed and preparations for the blinding concrete on the Sloping Tower are now under way. Altair, on track to be one its kind Luxury Condominiums in Sri Lanka.