From left: Tarik Jayasuriya – Project Head, De Saram Residencies, Vasantha Jayasuriya – Chairman/CEO Jayson Group of Companies and Architect Arosha Perera from Milroy Perera Associates
Pic by Pradeep Dilruckshana
Jaysons Realty (Pvt) Ltd (JRL), the real estate development arm of the Jaysons Group, launched its latest residential apartment complex, De Saram Residencies (DSR) recently.
With 22 apartments offering premium specifications to spectacular views to the Indian Ocean, this is the first step towards the greater development opportunity that will unfold in Mount Lavinia.
Sri Lanka’s well known real estate developers JRL who were involved with the construction of the luxury gated complex in the hills of Nuwara Eliya ‘The Little England Cottages’ is embarking upon a new venture on a luxury condominium known as DSR.
DSR is a project headed by Tank Jayasuriya of JRL, who is also the project Manager of the complex, goes above and beyond the standards set in the immediate surrounding suburbs of Colombo. “Our experience with the Little England Cottages allows us to understand how exactly to improve the living experience for residents thereby assisting the transition of making a house or apartment unit a home,” explained JRL CEO Vasantha Jayasuriya.
A media briefing to announce the launch of the apartment complex was held on 20th January at the Royal Colombo Golf Club.
At the briefing Tank Jayasuriya added, “We have assembled a great team for this project. Already 50 percent out of 22 units have been sold off plan via a 10-day social media campaign and we believe that all remaining units will be sold before construction begins in February 2016. To assist with sales campaign the developer in collaboration with a top local bank provides potential buyers with flexible financing options. The estimated date of completion of the apartment is 31st May 2017.”
DSR is designed in collaboration with veteran condominium architects, Milroy Perera Associates (Pvt) Ltd and JRL. DSR is a Board of Investment approved project and has also received Urban Development Authority as well as Local council approval.
The apartment complex is located close to S. Thomas’ college, Mount Lavinia and lies approximately 150 meters from the famous Mount beach. Mount Lavina is a unique location where apartments demand exists due to the area being a desirable residential zone and also a growing tourist zone.
The site is also located within close proximity to convenience boutiques, places of religious worship, medical facilities, bus and train stations.
Architect Arosha Perera explained, “The façade of DSR is inspired by colonial architecture which ties back to designs found in Mount Lavinia in the old days and are evident in structures such as the Mount Lavinia Hotel and S. Thomas’ College in Mount Lavinia. This colonial design permeates to the public area of the building especially in the design of the rooftop garden and swimming pool.”
The complex supports the potential for rental demand making this an interesting investment opportunity given the expected high occupancy rate.
DSR is leading the discourse in many areas that will shape the future of Mount Lavinia through its cutting edge design thinking and deep and nuanced understanding of customer needs. DSR consists of a combination of two and three bedroom apartments all of which are designed to optimize the apartment living experience for all residents. The three bedroom units can be split into a two-bedroom unit and a studio unit in order to increase options for short-term rental. It is common knowledge that short term tourist rentals have the potential to more than double the revenue stream from standard apartment rentals.
The apartment includes special features such as glass balustrades running right along the balconies to ensure a spectacular view is maintained. Over I Oft floor to ceiling height for better ventilation and living experience with large windows and doors is a unique feature in the complex.
The stone laying ceremony for the apartment complex was held on the 17th January 2016 and top professionals and potential buyers (both local and foreign) attended the ceremony.