Sri Lanka will be home to South Asia’s 6th tallest tower

The project even secured the Best Mixed Use Development (Asia) 2019 award at the PropertyGuru Asia Property Awards Grand Final

A rendering of The One towers

On Sunday, Janaki Siriwardhana, Chief Executive Officer and Director of The One Transworks Square, announced that the 92-storey residential and commercial building will start construction next year, to be completed by 2023, reported Eurasia Review.

Once built, The One tower will be deemed as the 6th tallest in South Asia.

Janaki said that the 82-storey Ritz-Carlton Tower will accommodate the Ritz-Carlton Hotel and Residences, which should launch by December 2021. Meanwhile, the second tower will be home to a 77-storey JW Marriott Hotel and Residences.

So far, she revealed that they have spent USD180 million on the project, but it is expected to be go up to about USD560 million.

More: Sri Lanka, a decade after the war

Last November, the development won the Best Mixed Use Development (Asia) title at PropertyGuru Asia Property Awards Grand Final, beating other nominees from across the region and placing them among the finest real estate players.

“It’s truly an honour to be recognised for the work that we do. This award is a testimony of our commitment and teamwork to excellence in luxury real estate,” said Jaideep Wahi, Chief Marketing Officer of The One Transworks Square.

“The One – Sri Lanka will redefine the city of Colombo and help position the country as a must-go destination for the business and leisure traveller and we’re incredibly proud to bring this award to Sri Lanka.”

Moreover, he said the Ritz-Carlton Residential tower is Sri Lanka’s first internationally-recognised residency, which should increase its likelihood to attract foreign investors, particularly from Australia and China.