Home Lands Skyline Breaks Ground For Their Latest Project “Oceana Beach Resort Apartments” – Wadduwa
Home Lands Skyline (Pvt) Ltd, broke ground for their next-generation project “Oceana Beach Resort Apartments” - Wadduwa on the 31st of March 2022, which added this 17-acre development to its portfolio of properties. Oceana Beach Resort Apartments' groundbreaking, the first-ever integrated beach resort apartment complex, integrates hospitality and residential real estate was a pivotal event in Sri Lanka's real estate market and a crucial milestone in apartment living. In recognition of its world-class standards and superior facilities offered in all construction projects, Homelands Skyline was awarded as the “Best Developer in Sri Lanka” at the Asia Property awards 2021 and received the prestigious status of “A (lka) Stable” by FITCH ratings for its solid financial stability. Further, Home Lands Constructions received the highest status standard of “C2” from CIDA, reflecting high construction standards and its strength in the local construction industry.
Home Lands Skyline has always been able to go above and beyond what was initially promised on all of its projects. Despite the economic downturn, Home Lands Skyline was the first real estate company to be rated Fitch A (LKA) stable outlook due to its strong cash flow. “We broke ground on Oceana 2 months ahead of schedule. We originally planned to break ground on the project in May, but we decided to go ahead in March. This indicates that Home Lands Skyline is the industry's leading developer and that we are economically stable despite the country's situation.” Mr. Nalin Herath, Chairman of the Home Lands Group of Companies said.
Oceana – Wadduwa, Homelands Skyline's latest project, is spread out across 17 acres and includes 400 meters of beachfront. It is designed to include 552 luxury beachfront resort apartments, a luxury hotel developed on 6 acres of land, and a host of world-class amenities. Only 15% of the project area is allocated to the building, while 85% of the complex is maintained in its natural setting and open areas, whilst providing 50+ world-class facilities.
Designed by renowned architect Phillip Weeraratne, Oceana – Wadduwa is planned to be constructed with clean and minimalist rooms accented with the delicate feel of natural materials. Investors can pick from a wide range of housing types, including one, two and three-bedroom apartments and penthouses explicitly designed with them in mind. Home Lands Construction – the construction arm of Home Lands Group will take over this prestigious project with its current and highest construction standard of C2 grading awarded by CIDA.
Due to the unique nature of this integrated beach resort apartment development, it is expected to be a fast-appreciating investment that provides excellent value appreciation with a very short return on investment, significant capital gains, and rental yields—owing to its distinct beachfront location. The luxury beachside project is expected to witness completion by December 2024.
Home Lands Skyline was awarded "Best Developer in Sri Lanka" at PropertyGuru Asia Property Awards 2021, giving customers and investors confidence that the company would act in their best interests. The RIU brand health study also recognized Home Lands Group was as the Most Preferred Brand in the Residential Real Estate Sector and the brand with the highest brand awareness among local prospective consumers and the diaspora. The Oceana - Wadduwa project exclusively allows investors to earn a high return on investment and rental yields by utilizing the apartments as a living, leased, daily-basis and long-term investment and to be operated as a service apartment. Home Lands Skyline continues to change the course of the real estate industry and raises the bar yet again for luxury resort apartment living in Sri Lanka.