Home Lands Skyline, the residential development arm of Home Lands Group has invested Rs.364 million in an up-market property of 6.5 acres in Malabe in Chandrika Kumarathunga Mawatha.
Malabe, a suburb of Colombo, at present is demonstrating the highest property appreciation rate in the country.
In view of catering to the booming demand for upper and middle scale housing in Colombo’s peripheries, Home Lands Skyline expects to deploy the newly acquired property for a fresh residential venture consisting of 336 luxury and semi-luxury residential parcels.
Malabe has become one of the most preferred residential locations among Lankan home seekers due to its closeness to the commercial capital, walking distance to the proposed Malabe-Fort Light Rail (LRT) depot, quicker entry to the Outer Circular Expressway and Southern Expressway and easy access to the Port Access Elevated Highway.
Also, a number of leading private educational institutions are located in Malabe such as CINEC Campus, SAITM, SLIT and Horizon College International.