Dynasty Residence setting the standard for American investment

March 31, 2015

Acting U.S. Ambassador to Sri Lanka Andrew C. Mann extended his enthusiastic support to Kandy’s first mixed development project – Dynasty Residence – led by prominent Sri Lankan-American entrepreneur Mahasen Samaravijaya during a recent visit to the construction site.

Hailing Dynasty Residence as a pioneering effort and a landmark in Sri Lankan-American economic ties, Mr. Mann commended the project’s unique vision in supporting the sustainable development of the Kandy region.

“Dynasty Residence is a very impressive development that is truly setting the standard for U.S. investment into Sri Lanka. This remarkable development is being carried out through a significant investment from Mr. Samaravijaya, a successful Sri Lankan American with the help of his U.S. business partners”.

“Mr. Samaravijaya is setting a standard for American investment with the high quality designs and standards of his product, he has paid attention to detail and to the needs of the customer. I would like to congratulate him on his fine efforts up to now and I look forward to coming back on a regular basis to see how this project develops and we are very keen to be here for the final opening of Dynasty Residence in March 2016. Again this is a remarkable development and we are very happy that he has decided to come here with his partners and invest in this, his great home town of Kandy.” Mr. Mann stated.

Also in attendance at the event were the regional managers of Sri Lanka’s leading commercial banks, National Development Bank (NDB), Sampath Bank and Hatton National Bank.

Representing Kandy’s first ever Luxury Residential project, Dynasty Residence is an 18-storey Residential Apartment Complex equipped with all the necessary amenities and boasts of 93 units configured into 24 single bedroom, 23 two-bedroom, 25 three-bedroom, 12 four-bedroom, 5 four-bedroom duplex SKY Villa apartments in addition to four exquisite penthouse suites which each include their very own private sky gardens, Golf putting course and entertainment area.

Located a mere five minutes from the proposed exit of the Colombo-Kandy Expressway, the project has the proud distinction of being the first mixed development project to be constructed in Sri Lanka in accordance with the US Green Building Council’s LEED Standards, under the LEED for Core and Shell Version 2009 Rating System.

Construction on the project, which commenced in August 2014 – is proceeding at a rapid pace and Samaravijaya is optimistic that it will be completed within a record-breaking 20 months. Sales activities started in December however 18% of apartments have already been sold, a clear indication of the intense demand for the project. Commenting on the significance of the project in the context of on-going changes to Sri Lanka’s business environment, Mann commended efforts towards good governance, rule of law and transparency, factors which would likely draw significant American investment in Sri Lanka in the near future.