The Investor s Choice

Transcription

1 The Investor s Choice

2 Sri Lanka : An Economic Resurgence

3 SRI LANKA Population 21 million with high literacy rates of over 90%. GDP USD 64 billion (2012 IMF est.) GDP Growth: 6% (2013 1st Quarter) Main Industries: Garments, Agriculture (rubber, tea, Coconuts) Remittances from workers abroad, Tourism. Credit Rating: S&P: B+ (foreign), Outlook - Stable Moody s: B1, Outlook - Stable Fitch: BB Outlook Stable

4 Sri Lanka - Economy Sri Lanka has had strong growth rates in recent years. In GDP per capita terms, it is ahead of other countries in the South Asian region %, %, %, % (estimated) Over 300 IT/BPO companies based in Sri Lanka, include HSBC, WNS Global, Aviva, Microsoft, Motorola etc. Establishes and progressive IT infrastructure and intelligence. Sri Lanka is building a service based economy with focus around growing tourism, IT and agriculture exports. Both India and China are actively bidding for infrastructure development in Sri Lanka. Significant strides have been made in infrastructure with the construction of highways and highly improved road networks, bridges, harbors, etc. Air services link principal towns.

5 COLOMBO Commercial capital of Sri Lanka. Cosmopolitan city with moderate migration from other parts of the country. Colombo Airport is the main hub for international tourist arrivals. Many major multi national companies have offices in Colombo. Colombo has a well established Maritime Industry. The recently completed extension to the Colombo Port has a draft of 18mts and has the capacity to accommodate super ships. The city has been transformed with the restoration of historical buildings and all around beautification.

6 COLOMBO Real Estate Experiencing high level of business activity after the end of the civil war has led to increased demand for premium residential and Grade A commercial real estate. Super luxury condominium market has witnessed significant growth primarily due to demand from Sri Lankans living abroad. Recent relaxation of exchange control regulation of capital gains has generated significant foreign interest. Sri Lanka has no capital gain tax. Political and economic stability coupled with the drive to develop a service based economy will drive the demand going forward. Demand for retail real estate growing rapidly.

7 Project: ALTAIR

8 PROJECT - ALTAIR Altair is an iconic development in Colombo, Sri Lanka. It is designed by the world famous celebrity architect Moshe Safdie, who has designed the well known Asian Icon-Marina Bay Sands Casino in Singapore. Its 68 floors will comprise of 1.5 million sq.ft. of high end eco friendly living. It will be the tallest tower in Sri Lanka. Altair is expected to attract high net worth Sri Lankan individuals and expatriates as residents. Altair will comprise of 40,000 sq.ft. of retail space on the ground floor including upscale restaurants, shops and spa. 6 levels of parking to provide ample parking space.

9 PROMOTER PROFILE South City Projects (Kolkata) Ltd. is a group of established real-estate developers in Kolkata who have formed a company to develop properties in Sri Lanka and internationally. Revenue of the group : 30 billion INR Market capitalization : 150 billion INR The group has more than 20 million Sq. Ft. under active construction costing over $ 2 Billion. Some of the projects developed by the group are; Urbana South City Projects Emami City Shrachi Rosedale South City Galaxy etc. etc.

10 SITE LOCATION ALTAIR Satisfying the real estate adage of location,,, Altair is nestled in the midst of prime residential and leisure enclaves and is in the close proximity to CBD, high end malls, hospitals & schools. The site enjoys the panoramic views of the Sea, Beira Lake, Port and City. Adjacent to emerging business hub of Nawam Mawatha.

11 THE STRUCTURE Altair s building form consists of 2 tower blocks one block leaning into the other vertical tower. The overall form tapers towards the sky, so that despite being a large building, it maintains a delicacy in the skyline. The structure is highly rationalized affording cross ventilation and multiple exposures in every residential unit. The towers are oriented to the movement of the sun and to maximize airflow in the tropical climate.

12 THE BUILDING 400 luxury apartments 2 bedroom, 3 bedroom, 4 bedroom and penthouse apartments. Size ranging from 1413 Sq.ft. to 4800 Sq.ft. Two towers will have panoramic views of both Beira Lake and Indian Ocean. Project is expected to be completed by 2017.

13 UNIQUE FEATURES Unique design to be the tallest tower in Sri Lanka. Column less and beam-less apartments. Sky Garden on 63rd Floor. Fast elevators 9 high speed elevators and service elevators. Double height terraces and balconies.

14 RECREATIONAL FACILITIES Gym Function Room Steam & Sauna Play Areas & Jogging Track Games Room Lap & Leisure Pool 63rd floor Sky Garden

15 APARTMENTS - SIZE / PRICE Straight Tower No of Bedrooms Floor Area Floor Number Sq.Ft Price Price Range (US$) Price Range (Rs) Total Number of Apartments / Straight Tower Total on Both Towers sq.ft 6th Floor - 62nd Floor $263-$320 $371,619 to $452, mill - 59 mill sq.ft to 1996 sq.ft 6th Floor - 63rd Floor $275-$340 $428,725 to $678, mil - 89 mil sq.ft 64 th Floor - 67 th Floor $360 -$390 $1,220,760 to $1,322, mill-174 mill N/A Sloping Tower No of Bedrooms Floor Area Floor Number Sq.Ft Price Price Range (US$) Price Range (Rs) Total Number of Apartments / Sloping Tower 2 N/A sq.ft to 2049 sq.ft 7th Floor - 40th Floor $275-$320 $484,000 to $655,680 63mill-86mill sq.ft to 3688 sq.ft 28th Floor - 53rd Floor $325-$364 $688,350 to $1,217,040 90mill-160mill sq.ft to 4876 sq.ft 54th Floor - 61st Floor $370-$400 $1,727,860 to $1,804, mill-238mill 8 163

16 GUARANTEED RENTAL PROGRAM A financial instrument in the form of a Guaranteed Rental Program whereby the F type apartments of 1415 Sq. Ft. from the 6th to the 37th Floor ( 30 Apartments) are sold on the basis of a rental of 7% per annum based on sales price being guaranteed. Provided the apartment is purchased in foreign currency, the rental returns are repatriable to any nominated account overseas.

17 PRICE & PAYMENT SCHEDULE 5% At the time of booking and 10%on completion of the Sales and Purchase Agreement balance payments linked to construction. All payments will be deposited to an escrow account with Standard Chartered Bank and will be released to the developer according to the construction schedule. Price range from USD 263 to USD 400 / Sq. Ft.

18 PAYMENT SCHEDULE

19 OTHER INFORMATION Stamp Duty- 4% Foreigners permitted to purchase above the fourth floor. No Capital gain tax on sale of property for foreign residents. Capital + Capital gains freely repatriable. Income tax is payable on rent at max effective rate of 18%, depending on Total income in Sri Lanka. Rental yield on existing high end residential units such as Monarch, Emperor, Empire & Iceland is 10-12%. Capital gains of over 15% per annum evidenced in the luxury apartment sector.

20 sales@altair.lk Indocean Developers (Pvt) Ltd World Trade Centre East Tower, Level 30 Echelon Square, Colombo 01