Roughly three years from now, Sri Lanka will see the completion of The One that is touted as the tallest building to rise in the country’s capital of Colombo. The project, bannered by three imposing towers of luxurious hotel rooms and residences under the brand Ritz-Carlton, will cost over $500 million to develop and build, and will serve as another glaring testament to the island nation’s flourishing economy.
The Daily Mirror (Sri Lanka Edition) called The One “an ambitious property development … (envisioned) to bring back former glory to the Colombo Fort area.”
Construction activities have been underway since September 2017 on the 4.5-acre The Transworks House complex, which is a 200 year-old heritage site that sits in the heart of Colombo. When The One becomes fully operational, which reports said will happen anytime in 2021, it will become a landmark stop both for Sri Lanka and the whole of South Asia region.
“The Transworks House will be creatively re-imagined as an international designer collective featuring some of the world’s leading brands … A truly high-end retail experience reserved for those with a penchant for the haute couture life,” per the report from The Daily News.
Gleaming Glass Edifices
The One, according to Property Report, will rise thanks to the collaboration between local firm One Transworks Square and China-based Zhongtian Construction Group. The latter characterised the project as a “landmark achievement” for Sri Lanka and will highlight three “gleaming glass edifices.”
“This region will experience not only opulence and exclusivity at its optimum but also the embodiment of contemporary architecture,” the Chinese company said in estimating the tower’s immediate and long-term impact to Sri Lanka.
Of the three towers that will comprise The One, the tallest will reach its peak at 376 metres high. But it is the second tower that appears to bear the signature of unrivalled lavishness attached to the Ritz-Carlton label. The 80-storey building will top at 326 metres and will house The Ritz-Carlton Hotel and The Ritz-Carlton Residences.
The project blueprint indicates The One will boast of “two super luxury hotels with 473 keys, a luxury retail mall, a commercial complex and 638 beautifully crafted apartments,” The Daily Mirror said.
Boost The Economy
This early, project developers have stated that The One will certainly serve to fire up the local economy by creating job opportunities for Sri Lankans and drawing in solid investments.
The latest updates provided by the developer showed the residential units, for instance, have prompted “phenomenal interest” from local and foreign buyers alike.
“Phase 1 is already sold out, while Phase 2 has had several pre-bookings. This is extremely encouraging not just for us as developers but for the Sri Lankan economy as a whole,” the developers reported.