Known for being the most exciting new freehold address in that part of the south of Sri Lanka,
Southbeach Weligama has seen unprecedented sales since August, selling at an average of one
unit per week.
● Sales at one unit per week since August
● Both penthouses already sold; 50% of the apartment portfolio sold to date
Southbeach Weligama Photo: One bedroom suite with sea view
22 nd September 2022 Weligama Sri Lanka: Known for being the most exciting new freehold
address in Sri Lanka, Southbeach Weligama has seen unprecedented sales since August, selling
at an average of one unit per week, the main reason being its prime location, right on Weligama
beach.
The project is currently 50% sold with a good mix of 60% Sri Lankan and 40% foreign clientele.
The two penthouses with its spectacular views have also been sold. The 75 meter pristine
beachfront and 35 meter pool augments a distinctive and ethical lifestyle adding value to the
complex, which predicts a gross rental yield of 6.5%. At a starting price of USD 180,000, the
initial booking deposit is just 5% and 30% at the signing of the Sale & Purchase Agreement. The
project is billed for completion by December 2024.
Keeping well ahead of its targeted schedule having completed the first phase of construction of
the foundation ahead of timelines this month, the demand for the 106 apartment complex is
also seeing a continued trend amongst buyers.
Managing Director of Balmond Studio John Balmond
“Wanting to enjoy a lifestyle-led investment, COVID has really sped up this trend,” says MD of
Balmond Studio John Balmond. “People want to enjoy this prime beach at these prices.”
SouthBeach Weligama is designed by internationally acclaimed design trailblazer Balmond
Studio led by Sri Lankan born Cecil Balmond OBE, the world’s leading thinker on form and
structure. He has been a consultant on some of the world’s architecturally most
groundbreaking buildings including Cinnamon Life, which will undeniably transform Colombo’s
skyline. His son John debuts his commitment to creating a modern Sri Lanka with Southbeach
Weligama – a celebration of modern beachfront living, which empowers the local community,
enables local craftspeople to produce furniture for the project and showcases Sri Lankan artists
with an art gallery and music room for local musicians to gather.
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