A combination of attractive interest rates and the launch of real estate-focused financial products is leading a trend towards investing in apartments, says John Keells Holdings Vice President, Head of Sales and Marketing (Property Group), Nadeem Shums.
Sri Lanka’s financial sector has reached a phase of low interest rates - for fixed income products and housing loans. Together with strong underlying demand for condominium properties, the developer reported a surge in demand from investors on the look-out for stable, high yielding investments, he said in a media release issued by the company.
“Despite the challenges arising from the pandemic, the real-estate sector has continued to perform well. We have also made steady progress on construction with the towers ascending to the 39th floor. You can now start to see TRI-ZEN taking shape and transforming Colombo’s skyline,” Mr. Shums stated.
He added that with increased urbanisation more Sri Lankans are seeking a new standard in convenience offered by properties like TRI-ZEN because of the central location, superior amenities, and attractive rupee pricing. “This is where our competitive pricing, relative to other metropolitan developments, proves to be particularly attractive. Especially with increased construction costs and land costs, the value of such condominium properties will continue to appreciate.”
In order to offer aspiring homeowners greater financial flexibility, JKP announced a slew of partnerships with some of Sri Lanka’s leading banks for its ground-breaking ‘Freedom Mortgage Package’. By providing customers a two-year interest free period on their mortgage, it requires customers to only pay 20% now and nothing more for the next two years. Customers can enjoy a payment free period of two years, after which the interest payments begin, and the capital repayments are made three years thereafter.
“The response to Freedom Mortgage has been very positive, and it has allowed many investors who, would typically not be in a position to put together large amounts of capital, to finally have a clear path to invest in a project like TRI-ZEN. This is game changing for those looking either to hold the property as a long-term investment or to simply have a pad in the city for your family,” Mr. Shums said.
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
The deadline for online applications to the 2024 G.C.E. Advanced Level (A/L) Examination has been extended until July 12, the Department of Examinations said.
Gazette on new speed limit regulations to be issued within two weeks
Cabinet has approved a proposed amendment to the Constitution that a referendum would be required to extend the Presidential and Parliamentary term beyond five years.
Leave Comments