Home Lands Skyline launches ‘Oceana Beach Resort Apartments’ project
Yasas Pathiranage CEO, Nimali Gunasekara Director Legal, Lasith Liyanaarachchi COO Construction, Structural Eng. Saro Weerasooriya, Ar. Philip Weeraratne, Nalin Herath Chairman Home Lands Group, Harshani Herath Director Home Lands Group, Eng. Kithmal Perera Managing Director Project (LCMC), Lanka Jayasinghe Director Operations and Administration, Eng. Jayalal Samaraweera and Eng. Ajith Weniwella.
Home Lands Skyline (Pvt) Ltd, broke ground for their next-generation project “Oceana Beach Resort Apartments” Wadduwa on March 31, which added this 17-acre development to its portfolio of properties.
Oceana Beach Resort Apartments, the first-ever integrated beach resort apartment complex integrates hospitality and residential real estate. The ground-breaking of Oceana was a pivotal event in Sri Lanka’s real estate market and a crucial milestone in apartment living. In recognition of its world-class standards and superior facilities offered in all construction projects, Homelands Skyline was awarded as the “Best Developer in Sri Lanka” at the Asia Property awards 2021 and received the prestigious status of “A (lka) Stable” by FITCH ratings for its solid financial stability.
Further, Home Lands Constructions received the highest status standard of “C2” from CIDA, reflecting highconstruction standards and its strength in the local construction industry.
Home Lands Skyline has always been able to go above and beyond what was initially promised on all of its projects. Despite the economic downturn, Home Lands Skyline was the first real estate company to be rated Fitch A (LKA) stable outlook due to its strong cash flow.“We broke ground on Oceana two months ahead of schedule. We originally planned to break ground on the project in May, but we decided to go ahead in March. This indicates that Home Lands Skyline is the industry’s leading developer and that we are economically stable despite the country’s situation,” Nalin Herath, Chairman of the Home Lands Group of Companies said.
Oceana Wadduwa, Homelands Skyline’s latest project, is spread out across 17 acres and includes 400 meters of beachfront. It is designed to include552 luxury beachfront resort apartments, a luxury hotel developed on six acres of land and a host of world-class amenities. Only 15% of the project area is allocated to the building, while 85% of the complex is maintained in its natural setting and open areas, whilst providing 50+ world-class facilities.
Designed by renowned architect Phillip Weeraratne, Oceana Wadduwa is planned to be constructed withclean and minimalist rooms accented with the delicate feel of natural materials. Investorscan pick from a wide range of housing types, including one, two and three-bedroom apartments and penthouses explicitly designed with them in mind.Home Lands Construction – the construction arm of Home Lands Group will take over this prestigious project with its current and highest construction standard of C2 grading awarded by CIDA.
Due to the unique nature of this integrated beach resort apartment development, it is expected to be a fast-appreciating investment that provides excellent value appreciation with a very short return on investment, significant capital gains, and rental yields—owing to its distinct beachfront location. The luxury beachside project is expected to witness completion by December 2024.