Indian company to develop Sri Lankan condo

Mumbai-based property developer Natvar Parikh & Co has signed an agreement with Sri Lanka´s investment promotion agency which will look after the Indian company construct US$13 million, 272-unit luxury condominium development in the island´s inland capital, Colombo.

As par Lanka Business online, Natvar Parikh & Co´s deal with the Sri Lankan Board of Investment (BOI) will indicate a range of tax breaks for the developer. The project is the starting phase of a larger project which on completion will include sixty thousand houses with an investment of US$1 billion and would mean a much-needed jobs, the BOI said

The residential apartment complex is to be built at Rajagiriya, a suburb west of Colombo.
The BOI told in meeting that the first phase of the project will give employment to twenty people, the BOI said in a statement.

3 Comments

  1. WordPress › Error

    There has been a critical error on this website.

    Learn more about debugging in WordPress.