BACK TO PRESS Mar 29, 2019

Serenia continues to attract discerning clientele

Serenia Residences, the luxury development of 47 fully serviced residences located on the ‘Million Dollar Golden Mile’ in Talpe, Galle continues to attract demanding buyers seeking the south coast beachside lifestyle with luxury and convenience.

Dilmah Tea Director and Resplendent Ceylon Managing Director Malik Fernando sees great value with his recent purchase at Serenia Residences.

Dilmah Tea, a global leader in tea is a family-run Sri Lankan tea company founded by Merrill J Fernando. The company is well respected for its philanthropy’ funding humanitarian and environmental projects in Sri Lanka. Resplendent Ceylon, the leisure arm of Dilmah Tea, has created a collection of small luxury resorts that offer a unique trail across Sri Lanka offering the upscale traveller a range of experiences linked to Sri Lanka’s history, culture and nature. Cape Weligama, Wild Coast Tented Lodge and Ceylon Tea Trails belong to the Resplendent portfolio.

Commenting on his purchase, Malik Fernando said: “I am delighted to invest in a residence at Serenia. The location is perfect, as it’s just 10 minutes from the Galle highway exit, making the Serenia beachfront property in Talpe as good as it gets. Rates starting at $250 per sq. ft. makes for a good investment. I was glad to note the developer’s attention to detail so am confident a quality product will emerge. The contractor is Access Projects who built Cape Weligama and I am confident they will do a good job as they have vast experience of building by the ocean. Saving the upcoming 15% VAT was a bonus, translating to quick capital gains after the 1stof April. I look forward to enjoying Serenia when the apartment is ready at the end of the year.”

Once completed, Serenia Residences will consist of 47 fully serviced residences located on the ‘Million Dollar Golden Mile’ in Talpe Galle, only 8 km from the Galle Fort. Complete with designer Camagni Italian kitchens with built-in Electrolux appliances, 10-ft-height floor-to-ceiling double glazed windows, Bohemian hand-blown crystal chandeliers, Hansgrohe and Duravit bathroom fittings, Italian homogeneous tiles, an outdoor yoga studio, an outdoor cinema, kid’s play area with day care, carwash facilities, an oceanfront deck and spacious private cabanas, heated jacuzzies, beach concierge services, a 24-hour attended lobby, 24-hour valet parking services, and many other facilities and amenities.

Prices start from $ 320,000 for a 1,307 sq. ft. 2 bed, $506,000 for a 1,827 sq. ft. 3 bed and $1,165,000 for a 4,480 sq. ft. 3 bed penthouse.

“Customers who invested at the launch of the project are already enjoying 25%-30% capital appreciation on the current price of a similar unit. We anticipate that at the time of completion the development will give customers who buy a unit this month a 30-35% USD capital appreciation, plus the 15% saving from the VAT, which will account for approximately a 50% increase in USD capital appreciation. Due to the unique concept and location of the project, combined with a limited number of units available the prices are increasing every 3-4 months by 15%. As an owner of one of the residences, you will have the unique opportunity to place your luxury residence in our Rental Management Program which offers a rental return of 7-10% USD per year. Clients who have purchased at Serenia are 65% foreign and 35% local high net worth individuals who strongly believe in Sri Lanka’s south coast, hence their decision to invest in Serenia as it is a product that will always be traded in USD. Due to the managed rental program clients will earn in USD as well, mitigating any local currency volatility; hence we offer the perfect platform to trade and earn in dollars,” said Serenia Limited Executive Director Dilshan Kodituwakku.

Set to develop and strengthen Sri Lanka›s ultra-luxury holiday home sector, Serenia is focusing on a specific message this year: «Own your place in paradise».

Source: http://www.ft.lk/propertyconstruction/Serenia-continues-to-attract-discerning-clientele/10516-675565