Singapore’s Keppel Group has successfully acquired a 60 percent stake in a property unit that will build a 260-unit luxury residential development in Colombo, Sri Lanka (pictured).
According to media reports, Keppel and Sri Lanka-based CT Holdings formed Keppel CT Developments (Private) Limited. Edmonton Pte Ltd, a Keppel unit was assigned 60 percent shares and a loan granted by the CT Group.
Keppel CT Developments will build a seven billion rupee (S$66.5 million) luxury apartment complex within a 1.25 acre site at George R De Silva Mawatha, Colombo 13. Most of the apartment units will offer panoramic views of the Indian Ocean.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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