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Sri Lanka’s Renuka Land to build Rs2Bn office block

COLOMBO, Nov 19, 2014 (EconomyNext) – Renuka Land, a joint venture between Renuka Hotels and Cargo Boat Development Company, is to build an office block for rent in the heart of the metropolis at a cost of two billion rupees.

The property, to be completed in April 2017, will consist of 204,343 square feet of which 108,138 sq ft will be available for rent, a stock exchange filing said.

The design comprises of the ground floor, basement and 13 levels, of which five will be allocated for parking with 160 bays, and eight levels will consist of ‘Class A’ rentable office space.

The building, on which construction will start in December this year, will be located on company owned land at No.29, Braybrooke Street, Colombo 02.

It has been designed by Design Group 5, one of Sri Lanka’s well established architectural firms and the winner of Best Office Architecture Award for the Asia Pacific Region, the statement said.

"There is also the option of getting office space tailor made according to a tenant’s specific requirements at the initial stages of the development of the project."

Cargo Boat Development Company owns and manages 75,000 sq ft of office space in Janadhipathi Mawatha, Colombo 1 and Renuka Hotels Ltd owns and manages Renuka Hotel and Renuka City Hotel.

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