GVR Lanka hosts reception to introduce Dynasty Residence in Kandy

Colombo, January 17th 2014: GVR Lanka (Pvt) Ltd recently hosted cocktails at the Cinnamon Grand to introduce the first mixed development real estate project to be built in the ancient city of Kandy. Construction of Phase 1 - Dynasty Residence began in early December 2013 and is scheduled to be completed by October 2015. Once completed this will be the tallest building in Kandy, a 15-storey, exclusive, luxury residential apartment tower made up of 88 units including single, double and triple-bed roomed apartments along with 10 three and four-bed roomed duplex-style sky villas. As another pioneering initiative, the Dynasty Residence will also include 4 penthouses with access to their very own private sky gardens.

Phase 1 – the Dynasty Residence complex and Phase 2 – Royal Palace Hotel are planned to be a complimentary match to each other’s design by ensuring all views are unobstructed.  Both the buildings will provide panoramic breath taking views from all angles. This is the first Luxury Residential Apartment project to commence in Kandy. A preliminary model of the residential section of the project was on display during the event. The design of the complex will emulate the surrounding environment establishing a connection between the building and the exquisite landscape of Kandy’s rolling hills, paddy terraces and the majestic Mahaweli River. The connection to the outdoors will be complete with a 360-degree view next to the historic location of the ‘elephant bath’.  The properties will provide the residents with a stately feel of the last stronghold of the ancient Sri Lankan kings. The project also has the distinction of being the first mixed development project to be constructed in Sri Lanka in accordance with the US Green Building Council’s standards.

The Chairman of GVR Lanka, Mr. Mahasen Samaravijaya, commented on the company’s first undertaking in Sri Lanka stated, “It has always been my dream to return to Sri Lanka and to give back to my amazing hometown. Kandy is a very special city and Dynasty Residence will only add to its grandeur. The feedback we have received for the project is very positive and promising. People from different walks of life have expressed interest in the project and we are really looking forward to servicing all our customers.”

The event was attended by many VIPs and dignitaries including Minister of Lands & Land Development Hon. Janaka Bandara Tennakoon, Deputy Minister of Investment Promotion Hon. Faizer Mustapha, Deputy Minister of Plantation Industries Hon. Earl Gunasekara, Central Provincial Councilor Hon. Premitha Bandara Tennakoon, South Korean Ambassador Jong-moon Choi and Deputy Chief of Mission for the US Embassy in Sri Lanka & Maldives William Weinstein, prominent business figures in the country and many other interested personalities.
Addressing the gathering Chief Guest Deputy Minister of Investment Promotions Faizer Mustapha stated “Investment and development projects of this nature confirm Sri Lanka's present positive economy. Turning our focus towards development outside Colombo, we see immense potential. As a growing economy we need to attract the confidence of the business fraternity. Since the end of the war 60% of Foreign Direct Investments have been brought in to the country by the present Government. I am also very pleased to see the Dynasty Residence developer’s commitment to the environment and for carrying out the overall construction in a socially responsible manner. This project will change the Kandyan landscape by uplifting the luxury living standards. This supports the President His Excellency's vision & commitment to develop the historical city of Kandy. We are grateful to successful expatriate entrepreneurs like Mahasen Samaravijaya and Mohan Chandramohan for coming back to their home town and investing in this unique Mixed Development Project.”

The first of the luxury penthouses was sold at this event for a sum of 1.2 million dollars.   Information is available on the website www.dynastyresidence.com