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Strictly Confidential — Investment Memorandum
Colombo 02 · Sri Lanka · Trophy Asset
Colombo 2
Landmark Site
5 Acres  |  Facing Cinnamon Life  |  Island Plot
Site Area
5 Acres
Land Cost
24.8B LKR
GDV Potential
130B–260B+
Road Access
All 4 Sides
Opportunity
Single-ownership island plot in Colombo 02's most coveted corridor. Zero tenant consolidation required.
FAR Uplift
Island plot with 4-sided road access qualifies for maximum UDA vertical uplift. 8:1 to 12:1 achievable.
Pricing Power
Cinnamon Life adjacency, Beira Lake views, Colombo 02 address — 85k to 120k+ LKR/sq ft.
Colombo 02 ◆ Island Plot ◆ 800 Perches ◆ Facing Cinnamon Life ◆ 4-Sided Road Access ◆ 24.8B LKR Land Value ◆ GDV up to 260B+ LKR ◆ Colombo 02 ◆ Island Plot ◆ 800 Perches ◆ Facing Cinnamon Life ◆ 4-Sided Road Access ◆ 24.8B LKR Land Value ◆ GDV up to 260B+ LKR ◆
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Land Analysis
Strategic Land Position
Site Dimensions
Total Area
5
Acres
In Perches
800
Perches
Sq Footage
217,800
Sq Ft
Per Perch
31M
LKR
Total Land Acquisition
800 Perches × 31,000,000 LKR
24.8B
LKR — Total Land Cost
Site Advantages
Island plot — road access from all four sides (FAR bonus eligible)
Single ownership — zero tenant consolidation risk or cost
Directly facing Cinnamon Life — instant brand & view premium
Colombo 02 — highest-tier address in Sri Lanka
Beira Lake proximity — potential unobstructed water views
High-rise corridor zoning — UDA priority approval track
vs. Torrington (Colombo 05)
Consolidation cost
22.4BNil
Landlord risk
112 unitsNone
Pricing (psf)
60–70k85–120k+
FAR potential
4:1–6:18:1–12:1
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Zoning & Planning
FAR & Vertical Uplift
UDA FAR Stack — Colombo 02 Island Plot
Base commercial FAR (Colombo 02 zoning) 4 : 1
High-rise corridor uplift (Cinnamon Life zone) + 2 : 1
Island plot bonus (4-sided road access) + 2 : 1
Mixed-use development incentive (UDA) + 2 : 1
Maximum Achievable FAR 10 : 1 → 12 : 1
Cinnamon Life — same corridor — received 40+ floor approval on a comparable footprint. Island plot configuration commands the maximum FAR tier under current UDA guidelines.
Buildable Area by Scenario
6:1
1,306,800 sqft
8:1
1,742,400 sqft
10:1
2,178,000 sqft
12:1
2,613,600 sqft
Estimated Tower Height (20,000 sqft floor plate)
FARBuildableEst. FloorsScenario
6:11,306,800 sqft65Conservative
8:11,742,400 sqft87Moderate
10:12,178,000 sqft109Upside
12:12,613,600 sqft131Trophy
* Mix of residential, commercial & amenity floors assumed.
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Revenue Projection
Gross Development Value
GDV Matrix (LKR Billions) — FAR × Pricing
FAR@ 85k psf@ 100k psf@ 120k psf
6:1111.1B130.7B156.8B
8:1148.1B174.2B209.1B
10:1185.1B217.8B261.4B
12:1222.2B261.4B313.6B
Highlighted = base case. Green = upside cases.
Colombo 02 Market Pricing Rationale
Cinnamon Life units are marketed at 100,000–140,000 LKR/sq ft. A directly facing development with superior views commands parity or premium. Conservative underwriting at 85k still generates institutional-scale returns.
Scenario Summary
Conservative — 6:1 FAR @ 85k psf
111.1B LKR
Floor case, minimum planning upside
Moderate — 8:1 FAR @ 100k psf
174.2B LKR
Base case — realistic planning & pricing
Trophy — 12:1 FAR @ 120k psf
313.6B LKR
Full vertical uplift + premium pricing
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Base Case 8:1 FAR @ 100k psf Single Ownership
Financial Model
Gross Development Value — Moderate Case
174.2B
LKR @ 8:1 FAR, 100k psf
Cost Stack
Land (800 × 31M) 24.8B LKR
Construction (45k psf) 78.4B LKR
Soft / Finance / Mktg 21.0B LKR
Consolidation Nil
Total Cost ~124.2B LKR
Profit Summary
Gross Profit
~50B
LKR
Margin
~29%
Base
Pricing Sensitivity
@ 110k psf ~35% margin
@ 120k psf ~41% margin
Saving 22.4B in consolidation improves effective margin by 8–10 pts vs. equivalent Colombo 05 deal.
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Summary
Investment Thesis
Sri Lanka's most compelling single-ownership vertical development opportunity.
Why This Asset Is Exceptional
01
Rarest Address
Colombo 02, facing Cinnamon Life — no equivalent parcel
02
Island Plot
4-sided road access = maximum UDA FAR entitlement
03
No Consolidation
Single ownership — saves 20B+ & removes all execution risk
04
Highest Pricing
85k–120k+ psf — top of Colombo residential market
05
Mixed-Use
Residential + commercial + hospitality revenue streams
06
SPV Ready
Clean title — fast path to capital structure & launch
Projected Investor IRR
Base Case
25–32%
8:1 · 100k psf
Upside
35–45%
10:1 · 120k psf
Conservative floor111B LKR
Base case174B LKR
Trophy ceiling313B+ LKR
Next Steps
1
Confirm UDA zoning class & FAR entitlement
2
Commission concept design + massing study
3
Structure SPV & agree equity / debt split
4
Execute land purchase within agreed timeline