StanChart introduces mortgage loans for Shangri-La’s apartment complex

Standard Chartered International Corporates and Global Subsidiaries Head Colin Pawley, Shangri-La Hotels Lanka (Pvt.) Ltd Deputy General Manager Rajeev Garg and Standard Chartered Retail Banking Head Sanjay Wijemanne 

Standard Chartered recently tied up with Shangri-La ‘The Residences at One Galle Face’ to provide mortgage loans to investors in the luxurious apartment complex. 

The bank will offer up to 75 percent of the property value as a loan amount to those investing in this exclusive development. The Residences at One Galle Face is a project by world-renowned property developer and hotel group, Shangri-La Hotels and Resorts and presents 390 thoughtfully designed living spaces spanning 51 floors in a two-towered property.   Standard Chartered Retail Banking Head Sanjay Wijemanne commenting on the tie up said, “This is a not to be a missed investment opportunity and we are confident that our alliance with Shangri-La will afford investors the best acquisition solution. We are offering a fixed interest rate of 12.75 percent per annum for five years with a flexible repayment period of up to 30 years – a very amenable proposition. The bank’s mortgage loan also entitles the investor to Standard Chartered Priority status including a lifetime free Visa Infinite credit card, a complementary priority pass membership for privileged access to over 700 VIP lounges worldwide, a dedicated relationship manager, who will personally service the account and many more exclusive privileges.” Shangri-La Hotels Lanka Deputy General Manager Rajeev Garg commented, “The Residences at One Galle Face is aimed at being simply the best address in Colombo. We are excited to tie up with Standard Chartered, a prestigious international bank and we are inspired to pursue this partnership to provide a total financial solution to our clientele through a hassle-free and attractive mortgage loan proposition.”    

The Residences at One Galle Face apartments come with the choice of two, three or four bedrooms, with square foot areas ranging from 1,733 sqft to 2,745 sqft. The four-bedroom deluxe unit provides 3,541 sqft of living space. Additionally, the 16 penthouses comprise eight Duplex and eight Simplex units. 

Residents can also enjoy the convenience of truly integrated living as the property is directly connected to The Offices, a premium business facility, Shangri-La Hotel (renowned Shangri-La Hospitality) and The Mall with seven floors of shopping, dining and family-friendly entertainment. Shangri-La is investing over US $ 600 million on this mixed use project.