This opportunity involves acquiring a substantially completed, upscale beachfront development in Galle with the flexibility to unlock value through completion and repositioning. The project sits on a freehold beachfront site of over 1 acre along the Colombo–Galle main road, just 3.3 km from Galle Fort, and was originally designed as a 96-room luxury resort with uninterrupted sea views. Core structural works, excavation, and masonry are largely complete, with a near-finished mock-up room demonstrating intended quality, significantly reducing construction and execution risk for a new investor. Importantly, a completed feasibility study and architect confirmation support the option to convert the existing structure into a residential apartment complex, providing strategic optionality to align with market demand. Offered at an expected net price of USD 12 million, the asset presents a rare chance to enter a prime Galle beachfront location at a discounted replacement cost, with clear upside from completing, rebranding, or repurposing the development as tourism and coastal real estate demand continue to strengthen.
Contact: info@frontiercapital.lk
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