SL signals readiness to host ‘new class of global luxury’

Colombo’s skyline has a new jewel — the Sapphire Residences, where apartments start at USD 1.2 million and rise to nearly USD 3 million for the larger units.

- By IrHam NIZAM

Unveiled to the media at an exclusive walk-through recently, this ultra-luxury oceanfront development is redefining premium living and signaling growing investor confidence in Sri Lanka’s high-end real estate market.

Developed by WelcomHotels Lanka (Private) Limited, a subsidiary of ITC Hotels Limited India, the project marks ITC’s first mixed-use development outside its home country. For ITC —a century-old conglomerate with a formidable reputation for excellence and sustainability — the Colombo project represents both a milestone and a message: Sri Lanka is ready to host a new class of global luxury.

“This is a landmark development and a statement of confidence in Sri Lanka’s future, said Subi George, Managing Director of WelcomHotels Lanka (Pvt) Ltd. “By merging world-class design with ITC Group’s philosophy of Responsible Luxury, we are proud to introduce a new benchmark for sustainable, ultra-luxury living in South Asia.”