Change of plans for Shangri-la

The earlier plans for the construction of a hotel opposite the Galle Face by the Hong Kong based Shangri-La Group have reportedly been changed and according to the new plans even the high tension electricity lines running across the area have to be relocated.

According to the new plans there is an addition of about 125 rooms, reports say.

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(Source: Sri Lanka Mirror)

Real estate market segment: Middle income

Due to a variety of economic and social factors, the main focus for the middle income segment is in the arena of newly built houses and plots of land. This segment of the market tends to diverge into the suburbs of Colombo city, opting for larger properties 20-30 kmaway from the city. The fastest growing segment in terms of deal closure in the real estate market is associated with the middle income earners in Sri Lanka.

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(Source: Sunday Times)