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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2733

Richard Pieris diversifies to luxury residencies

By Quintus Perera – Asian Tribune

Colombo, 28 October, (Asiantribune.com): A giant local conglomerate, Richard Pieris Group, turning to a special chapter in its history ventured to property development with the laying of the foundation stone for luxury housing complex – Shadygrove Residencies at Madapatha, Piliyandala through its subsidiary Arpico Homes Ltd by the Group Chairman, Dr Sena Yaddehige, last week.

The Project offers a selection of attractively designed homes in an extent of 11 acre estate in Batakattara, Piliyandala just 2.5 km away from Piliyandala town.

All these homes will be constructed keeping in mind the aesthetic, safety and functional requirements of a contemporary dwelling place. The mega Rs 1.6 billion housing project would consist of 112 apartments.

Addressing the gathering after the foundation laying Dr Yaddehige said that though originally known to be a rubber based company Richard Peiris Group has now grown like a huge tree diversifying into many areas.

He said that the company is reputed for undertaking massive and successful projects and they are also the biggest single plantation company in Sri Lanka thus becoming the largest manufacturer of ‘Ceylon Tea’. They are also the largest manufacturer and exporter of rubber based products and one of the most popular retailers in Sri Lanka

He said the secret of their climbing to the top could be attributed to the high quality, dependability and reliability of Arpico products. The company is also fully aware of its Corporate Social Responsibility as a business leader and has so far built 150 houses for the Tsunami victims.

Dr Yaddehige said in property development their concept is not just to build some individual houses, but to build a community complete with 24 hour security service, health and recreation facilities as well as other amenities to ensure luxury living.

The housing project s located in a quiet, serene locality, close to the town but away from busy, noisy atmosphere. This project is expected to be completed by the year 2008. For those who reserve them before November 2006 the prices would range between Rs 9.5 million to Rs 13.9 million.

- Asian Tribune -

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