447 Luna Tower scores high across each and every parameter – as it offers a strong value proposition for prospective buyers seeking luxury real estate in Colombo. Reflecting impeccable credentials, the project is backed by Belluna Co. Ltd. Japan and Asia Capital PLC. Belluna Co., is a Tokyo Stock Exchange (First Section) listed company and a significant player in the global real estate industry with projects spanning Myanmar and Los Angeles, USA.
The Japanese giant has already proven its long-term commitment to the Sri Lankan property market by investing US$450 MN for all its projects in Sri Lanka. 447 Luna Tower is Belluna’s first luxury apartment project in the country and the Japanese developer has spared no expense to make sure it reflects its roots, the famed Japanese prowess for perfection and precision. The company’s other ongoing projects include a 300-room city hotel on Marine Drive in Colombo 3, an ultra-luxurious 57 room resort in Galle named Le-grand which opened in August 2018; as well as their first resort endeavor with Marriott International, debuting the “Westin Maldives Miriandhoo Resort” entailing 70 villas opened in October of 2018, along with a recently acquired multi development project residing on the borders of the Beire Lake.
Scheduled for completion in 2020, 447 Luna Tower is located in the heart of Colombo at Union Place, in close proximity to the commercial hub, leading schools, shopping area and hospitals. Extending the argument for acuity of this investment for buyers, the project is being helmed by equally reputed partners, such as Philip Weeraratne Associates as Principal Architects – a firm that boasts an array of upmarket hotels and minimalist designer homes in their portfolio; Arup and Ong & Ong – Arup is an international leader in structural engineering that will look to bring a world class depth of creative and technical expertise as they provide a thorough structural review of the apartment complex, while Singaporean firm Ong & Ong – operating in 12 countries across three continents – offers unrivalled know-how in cross-discipline, integrated design solutions.
The project makes sound financial sense for buyers, as the apartments are priced in Sri Lankan Rupees (LKR), whereas a majority of other noteworthy residential developments in central Colombo are priced in US Dollars (USD). With the recent depreciation of the rupee against the dollar, the project partners believe investors will benefit from the greater capital appreciation of fixed LKR pricing, as the cost of competing developments increases in LKR terms. As a result, 447 Luna Towers makes upscale living truly affordable! Adding to this Asia Capital is also affording the buyer the service of apartment management in the near future, which will facilitate buyers local and foreign to enjoy their investment while the apartment management arm takes care of their investment.