Tall & Urban News

Twin Tower Apartment Project Set for Completion in Colombo

Capitol TwinPeaks overlooks the coveted Beira lakefront in Colombo.
Capitol TwinPeaks overlooks the coveted Beira lakefront in Colombo.
13 August 2020 | Colombo, Sri Lanka

Capitol TwinPeaks, the flagship 50-story twin tower mixed development venture of the Sanken Group, resumed construction on 18 May 2020 and is now proceeding at full force.

Having achieved major construction milestones prior to the lockdown, the project is now operating with a full workforce at maximum efficiency, in order to deliver the completed condominium project to its investors and residents at the earliest possible date amidst the myriad of challenges posed by the global pandemic. 

With both contractor (Sanken Construction) and developer (Capitol Developers) being members of Sri Lanka’s premier construction giant Sanken Group and Singapore’s P & T as its architectural design partner, Capitol TwinPeaks is slated as a landmark project for the area.

Capitol TwinPeaks is a product of construction, design research, and expertise of the Sanken Group and is aimed at providing higher rental yields and capital gains for investors through an optimal product mix and unit price. 

Capitol TwinPeaks Managing Director Rohana Wannigama commented: “The Sanken name is synonymous with timely delivery and high-quality construction that rivals international projects. We aim to ensure standards are met whilst being mindful of the timing and how it affects return on investment, given the unprecedented work environment we are faced with. We aim to expedite the remaining construction work in order to meet this need.”

Situated in Colombo 2, which is already becoming an elite neighborhood, the project is expected to provide the highest capital gains. Overlooking the coveted Beira lakefront, the project is particularly popular with Sri Lankan expatriates, foreign nationals, and young entrants to the investment landscape.

Concluding, Wannigama noted: “We are working to ensure an efficient and smooth flow of work to meet our customers’ expectations despite the delays to obtain imported materials, due to the global lockdown still in effect. However, the Sanken Group is committed to financing the project, together with the banks in order to complete the project honoring our commitment.”

For more on this story, go to Daily FT.