Krrish - Colombo Mixed-Use Development - Western Province - Project Profile

Synopsis
"Krrish - Colombo Mixed-Use Development - Western Province - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

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Scope
The project involves construction of a mixed-use facility on a 1.7ha of land at Colombo, Sri Lanka.

The US$650 million project includes the following:

1. Construction of two towers

2. Construction of shopping mall

3. Construction of residential units

4. Construction of commercial space

5. Construction of a hotel

6. Construction of retail space

7. Construction of 10-story podium for parking space

8. Installation of elevators

9. Installation of safety and security systems
Summary
Krrish Group (Krrish) is undertaking the construction of a mixed-use complex in Colombo, Sri Lanka.

The project involves the construction of the mixed-use facility on a 1.7ha of land comprising two towers of 280m and 250m height.

It includes the construction of shopping mall, residential units, commercial space, a hotel, retail space, 10-story podium for parking and other related infrastructure, and the installation of elevators, safety and security systems. The project will be developed in two phases.

The first phase includes the construction of residential complex and shopping mall.

In December 2012, the Krrish has made a 20% down payment and the remaining 80% will be paid after signing the lease agreement.

In August 2013, the project was facing delays and decided Krrish Group decided to downsize the tower by two.

Edouard Francois, Norman Foster has been appointed as the architects for the project. Buro Happoid, Windtech, and Coffey Geotech have been appointed as the design consultants for the project.

In the fourth quarter of 2015, Krrish downsized its plan and submitted plans to the Government for two towers.

In December 2015, the project secured approval for the project from the Government and preliminary work was commenced.

MTD Walkers plc has been appointed as enabling works contractor.

Civil & Structural Engineering Consultants ltd has been appointed as geotechnical and civil engineer

Zhongtian Construction has been appointed as construction contractor.

Urban Development Authority(UDA) had cleared 1.4ha of land to proceed with the project construction work under its first phase and the remaining 0.3ha had been temporarily halted due to a dispute over the final payment.

In July 2016, construction works commenced on the project.

On November 29, 2016, Krrish signed a supplementary agreement with the Board of Investment(BOI) to complete the project in 48 months.

In June 2017, piling works are completed.

Construction works are underway.
Reasons To Buy
• Gain insight into the project.

• Monitor the latest project developments.

• Identify key project contacts.
Key highlights