PROFILE

Prime Residencies

Q: How should organisations look at brand investments in today’s business environment?

Sandamini Perera (SP): Brands are very important against the backdrop of volatile economic environments because they give customers confidence and display the strength of businesses.

Premalal Brahmanage (PB): Brands are crucial for our sector now – when the market is at a standstill. Projects don’t get delivered on time as promised and we see halfway abandoned buildings. Even some of those completed are without the necessary approvals to transfer the deeds, and customers end up being misled.

Customers often decide on purchases based on the development – land, payment terms, contractors and amenities, for example. However, they must also check the developer’s strengths and trustworthiness. Brands help customers differentiate between the deve­loper and the development.

Q: What are the major milestones in your growth as a brand?

SP: We have celebrated many milestones in our 26 year journey – from being a small real estate entity to one of Sri Lanka’s most valuable businesses.

Starting off in real estate outside Colombo, we quickly realised there was a gap in the market for affordable luxury. The market then had very high end luxury apartments and low end flats. We capitalised on this gap and positioned ourselves in the affordable luxury segment.

In 2016, we decided to create a landmark to change Colombo’s skyline, and started constructing The Grand in 2017. Five and a half years later – and after strongly withstanding the Easter Sunday bombings, COVID-19 pandemic, political unrest and economic crisis – we have opened it for occupation as an ultra-luxury apartment that has transformed the sector.

PB: We have also been continuously differentiating ourselves by successfully challenging competitors including well-known foreign brands.

We excel in after sales. At the time of completion of a property for instance, we ensure that the deeds are ready for collection – together with all required certifications and no financial obligations. We create wealth for our customers and give them more than what they expect.

Q: Prime Group recently handed over its flagship project – The Grand, Ward Place in Cinnamon Gardens – to its exclusive customers. How does this add value to your brand offering?

SP: The Grand is a Sri Lankan success story, a testament to what local industry can deliver.

Whilst being the only high-rise in the residential area of Colombo 7, it is special in so many ways. For one, it has over 50,000 square feet of leisure and recreation space spread across three floors.

On the 37th floor, we have a yoga deck, viewing deck and walking path. And on the 32nd floor, ‘Ahas Thatakaya’ is host to Sri Lanka’s longest elevated infinity pool, lying 71 metres in length and with a sky bar area from which to enjoy unparalleled city views. The fifth floor houses another 36 metre pool, kiddies’ pool, gym, badminton court, coffee shop and kids’ play area plus a ­multifunction hall, among other amenities.

The Grand’s location, design, layouts and architecture have been done to provide the utmost privacy to residents. This project is a truly Sri Lankan creation, designed and built by a team of expert Sri Lankans – from project partners and architects, to structural engineers and technicians.

Q: Can you give us some information on your upcoming projects?

SP: We have two properties coming up: 43 By The Sea Marine Drive is a beachfront apartment complex located five minutes from Colombo, in Dehiwela, and two minutes from that town – with leading supermarkets, restaurants, schools and recreational facilities within walking distance.

The Colombo 8 property is located in a highly residential area in Chandraleka Mawatha. This is a boutique development, which once completed will have 32 spacious apartments on eight floors, ensuring high levels of privacy. We are also working on making this a pet friendly apartment, which will be a first for Sri Lanka.

We offer a range of financing solutions including an 18 month interest free payment plan for these properties.

Q: What are your predictions for the future of this sector?

PB: The sector is in a much better position than it was 12 months ago with the economy moving in the right direction and everything settling in.

We are confident that we will be able to revamp this sector to be on par with countries such as Dubai. With the demand The Grand has seen from expatriates who want to return to Sri Lanka, we’re confident that we will be able to ‘export’ real estate soon.

Telephone 2699822 | Email info@primelands.lk | Website www.primelands.lk