Known for being the most exciting new freehold address in Sri Lanka, Southbeach Weligama has seen unprecedented sales since August, selling at an average of one unit per week, the main reason being its prime location, right on Weligama beach.
The project is currently 50% sold with a good mix of 60% Sri Lankan and 40% foreign clientele. The two penthouses with its spectacular views have also been sold. The 75 meter pristine beachfront and 35 meter pool augments a distinctive and ethical lifestyle adding value to the complex, which predicts a gross rental yield of 6.5%. At a starting price of USD 180,000, the initial booking deposit is just 5% and 30% at the signing of the Sale & Purchase Agreement. The project is billed for completion by December 2024.
Keeping well ahead of its targeted schedule having completed the first phase of construction of the foundation ahead of timelines this month, the demand for the 106 apartment complex is also seeing a continued trend amongst buyers.
“Wanting to enjoy a lifestyle-led investment, COVID has really sped up this trend,” says MD of Balmond Studio John Balmond. “People want to enjoy this prime beach at these prices.”
SouthBeach Weligama is designed by internationally acclaimed design trailblazer Balmond Studio led by Sri Lankan born Cecil Balmond OBE, the world’s leading thinker on form and structure. He has been a consultant on some of the world’s architecturally most groundbreaking buildings including Cinnamon Life, which will undeniably transform Colombo’s skyline. His son John debuts his commitment to creating a modern Sri Lanka with Southbeach Weligama – a celebration of modern beachfront living, which empowers the local community, enables local craftspeople to produce furniture for the project and showcases Sri Lankan artists with an art gallery and music room for local musicians to gather.