NovaNest Properties Private Limited, the real estate arm of Nawaloka Holdings, has officially launched Rainbow Apartments, a landmark 234-unit residential development in Ratmalana designed to redefine modern apartment living in Sri Lanka.
Backed by the strength, trust, and legacy of Nawaloka Holdings, Rainbow Apartments introduces a new standard of community-focused living by combining premium lifestyle amenities, healthcare support, convenience, and investment value within a single integrated development.
Strategically located in Ratmalana, with easy access to Colombo and key commercial hubs, the development has been designed to meet the evolving needs of homeowners, investors, expatriates, and professionals seeking a modern and well-connected living environment.
One of the project’s standout features is its expansive rooftop lifestyle zone, among the largest residential rooftop experiences in Sri Lanka. Residents will enjoy access to a dedicated jogging track, swimming pools, gymnasium, Zumba studio, yoga area, mini theatre, rooftop café, library, landscaped garden, table tennis facilities, and dedicated event spaces, creating a vibrant community environment that promotes wellness, recreation, and social engagement.
Rainbow Apartments has also been thoughtfully designed to support residents at every stage of life. Facilities include a daycare centre, children’s play area, elder activity zone, co-working workstations, and rentable meeting rooms, providing a comprehensive living experience for families and professionals alike.
Further enhancing the development’s appeal is its unique healthcare offering. Residents will benefit from a fully equipped medical centre, 24-hour ambulance services, and an in-apartment Nurse Call System that provides immediate access to emergency medical assistance supported by Nawaloka Hospitals PLC. Additional conveniences include cafés, a mini mart, EV charging stations, accessible parking facilities, a professional car wash area, and a secure access-controlled entrance.
Speaking on the project, Samitha Waidyasekera, Chief Executive Officer of NovaNest Properties, stated:
“Rainbow Apartments represents a significant milestone in our vision to transform residential living in Sri Lanka. More than an apartment complex, this development has been designed as a complete lifestyle ecosystem that combines comfort, wellness, security, convenience, and community living. We believe Rainbow Apartments will offer exceptional value for both homeowners and investors while setting a new benchmark for the industry.”
“We have partnered with leading banks in Sri Lanka to provide tailored financial solutions to all our customers, including foreign employees. For international buyers, NovaNest Properties facilitates a dedicated payment plan to ensure a seamless purchasing experience. In addition, we offer four (04) interest-free payment plans, making property ownership more accessible and convenient,” said Mr. Theja de Silva, Group Chief Financial Officer.
Commenting on the significance of the project, Thilina Magalla, Head of Brand & Communications of NovaNest Properties, said:
“Built on the trusted legacy of the Nawaloka brand, Rainbow Apartments reflects our commitment to delivering future-ready developments that combine quality construction, thoughtful design, and lifestyle-driven amenities. This project offers residents a unique opportunity to experience connected community living in a well-connected location while benefiting from strong long-term investment potential.”
With its strategic location, extensive lifestyle facilities, healthcare integration, and attractive value proposition, Rainbow Apartments is positioned to become one of Sri Lanka’s most compelling residential and investment opportunities.