CT Properties launches GS Towers in Kotahena
NEW PROJECT: CT Properties Ltd, launched their latest venture into
the property development market, with a traditional ground breaking
ceremony of the GS Towers. The Towers which is the first of its kind in
the area, is a commercial, entertainment and residential complex to be
situated at Kotahena, and will have two towers featuring 36 levels and
30 levels respectively.
The new complex is to be located at the intersection of George R. De
Silva Mawatha and K.B. Crysty Perera Mawatha with easy access to main
roads out of Colombo. Boasting spectacular views of the Colombo Harbour,
Sea and Colombo city, this apartment and commercial complex features 240
spacious apartment units of varying sizes, along with many shops,
offices, cinemas, function halls and other amenities.
The residential area also features recreational facilities such as
swimming pool, club house and gym which will be exclusive to apartment
At a cost of around Rs. 4.2 billion the proposed towers has a gross
floor area of 620,000 sq. ft. While individual apartments will have
floor areas from 1,100 to 1,550 sq. ft, the duplexes will be more
spacious from between 2,000 to 2,800 sq. ft.
CT Properties has entered into an agreement with the Board of
Investment (BOI) for this project. A number of highly qualified and
dedicated consultants with many years of experience in Sri Lanka and
overseas will come together to put this project together. Building
Design (Private) Limited will be the architects for the project, led by
Gemunu Perera, who was also the Architect for the HNB Towers project.
Deputy Chairman/Chief Executive Officer of CT Properties Raj
Selvaskandan has said that, "Our main aim is to target the population of
Kotahena and other surrounding areas, along with professionals, business
owners and expatriates who are seeking a secure investment, by offering
individual apartments at a targeted selling price of Rs. 16 million, and
upwards. The complex is expected to be completed in early 2010.
We believe that a structure and destination such as the GS Tower
would add immense value to Kotahena and the immediately surrounding
CT Properties is part of the Ceylon Theatres Limited group of
The Group is classified as a diversified conglomerate and includes
nine Quoted Public Companies. It has interests in food and beverages,
retailing and distribution, properties, entertainment, ceramics and
porcelainware, financial services, plantations and packaging.
The Group is now long established in the field of property
development, with ownership of prime properties.
The first such development of the Group was the Majestic City
shopping and office complex situated in Colombo - 4, through the
subsidiary - CT Land Development Ltd.