Serenia continues to attract a discerning clientele | Sunday Observer

Serenia continues to attract a discerning clientele

Director of Dilmah Tea and Managing Director of Resplendent  Ceylon, Malik Fernando and Executive Director Serenia Limited, Dilshan  Kodituwakku.
Director of Dilmah Tea and Managing Director of Resplendent Ceylon, Malik Fernando and Executive Director Serenia Limited, Dilshan Kodituwakku.

Serenia Residences, the luxury development of 47 fully serviced residences located on the ‘Million Dollar Golden Mile’ in Talpe, Galle continues to attract demanding buyers seeking the south coast beachside lifestyle with luxury and convenience.

Director of Dilmah Tea and Managing Director of Resplendent Ceylon, Malik Fernando - the latest buyer of a Serenia unit, sees great value at Serenia Residences, a company press release said.

Dilmah Tea, a global leader in tea is a family-run Sri Lankan tea company founded by Merrill J Fernando while Resplendent Ceylon, the leisure arm of Dilmah Tea, has created a collection of small luxury resorts that offer a unique trail across Sri Lanka. Malik Fernando said, “I am delighted to invest in a residence at Serenia. The location is perfect, as it’s just 10 minutes from the Galle highway exit, making the Serenia beachfront property in Talpe as good as it gets. I was glad to note the developer’s attention to detail so am confident a quality product will emerge. Saving the upcoming 15% VAT was a bonus, translating to quick capital gains after April 1. I look forward to enjoying Serenia when the apartment is ready at the end of the year”.

Once completed Serenia Residences will consist of 47 fully serviced residences located on the ‘Million Dollar Golden Mile’ in Talpe Galle, only 8 km from the Galle Fort.

Dilshan Kodituwakku, Executive Director Serenia Limited said, “Customers who invested at the launch of the project are already enjoying 25%-30% capital appreciation on the current price of a similar unit. We anticipate that at the time of completion the development will give customers who buy a unit this month a 30-35% USD capital appreciation, plus the 15% saving from the VAT, which will account for approximately a 50% increase in USD capital appreciation.”

“Due to the unique concept and location of the project, combined with a limited number of units available the prices are increasing every 3-4 months by 15%,” he said.

Buyers also have the opportunity to place their units in the company’s Rental Management Program which offers a rental return of 7-10% USD per year.

“Clients who have purchased at Serenia are 65% foreign and 35% local high net worth individuals who strongly believe in the south coast, hence their decision to invest in Serenia as it is a product that will always be traded in US$. Due to the managed rental program clients will earn in US$ as well, mitigating any local currency volatility; hence we offer the perfect platform to trade and earn in dollars,” Kodituwakku said. 

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