India First Edition

70-Storeyed Tower from Suchirindia in Colombo

Hyderabad: Suchirindia, a Hyderabad-based business group with its roots in real estate, has ventured into construction of twin towers of 30 floors and a 70floor marvel at Colombo, Sri Lanka. The tower complex, undertaken in collaboration with the Urban Development Authority, Government of Sri Lanka at Colombo is being developed at a cost of US$ 355 Million.

The company is executing the project under the name “Suchir NEB Projects Pvt Ltd” an SPV formed for this purpose along with other overseas partners.

The towering complex comprises of a 30 floor commercial tower and a 70 floor residential tower. The total built-up area for the commercial tower including convention centre and the residential tower would be Three Million Sq. ft.

Speaking on the occasion, Dr. Y. Kiron, CEO of Suchirindia said, “Working in close association with the Sri Lankan authorities on this project has been a pleasure, and we hope to lay our footprint in many more areas in the future.”

25% of commercial space is to be taken up by UDA (Urban Development Authority) in Colombo, Sri Lanka under a firm commitment. The project site is located close to the Parliament house and main terminus of metro railway. The joint venture Partners for the development of this project includes a reputed International Financial services company.

The Metro Rail in Colombo is being developed by one of the Joint venture partners to the towering complex project “NEB infrastructure Projects Pvt Ltd”.