The ground breaking ceremony of Pentara Residencies, Colombo’s most iconic twin-tower development by Home Lands Group, was successfully held on Thursday, 28th August 2025 at Thummulla Handiya, Colombo.

The event was graced by the Minister of Urban Development, Construction and Housing, Hon. Anura Karunathilaka, Chairman of the Urban Development Authority, Eng. (Mr) Kumudu Lal, Chairman of the Condominium Management Authority, Eng. (Mr) Bandula Karunarathne, Director General of the Board of Investment, Mrs. Renuka M Weerakoon, along with senior government officials, distinguished invitees, customers, and well-wishers.

Addressing the audience, Minister of Urban Development, Construction and Housing, Hon. Anura Karunathilaka noted:

“Private sector companies like Home Lands bring in large-scale investment, generate employment, and contribute significantly through billions in tax revenue. Pentara Residencies project alone contributes nearly Rs. 15 billion in taxes. Projects of this magnitude bring in foreign exchange to the country and tax revenue to the government which in turn enable the government to provide housing to low-income groups and support essential public services across health, transport, and education. Additionally, Pentara will create substantial job opportunities, further boosting the economy. I wish Pentara all the success”

Also speaking at the ceremony, Mr. Nalin Herath, Chairman/Managing Director of Home Lands Group, said:

“Pentara is the largest residential real estate investment by a Sri Lankan developer, with an investment of USD 110 million, equivalent to around Rs. 35 billion. Beyond this scale, the project contributes significantly to the national economy not only by bringing much-needed foreign exchange into Sri Lanka, but also by contributing billions of rupees in taxes to the government through this single investment.”

Having obtained all relevant approvals and clearances, Pentara Residencies continues to move forward, offering 45+ star-class amenities, including Sri Lanka’s first five star floating sky restaurant, the Sri Lanka’s first cantilevered sky pool, and an iconic sky bridge connecting the twin towers at level 30. Rising over 40 levels, the twin towers will house 362 units, featuring Deluxe Apartments, Sky Villas, Penthouses, and Sky Mansions. In just two and a half months since its launch, 50% of the units have already been sold, reflecting strong confidence from both local and international buyers.

The ground breaking of Pentara Residencies in Thummulla Handiya, successfully concluded with the laying of foundation stones, religious observances, and fellowship, officially marking the start of this landmark project, set to redefine luxury living in Colombo.

The post Home Lands’ Pentara Residencies Breaks Ground: Colombo’s Landmark Twin Towers Rise at Thummulla appeared first on Newswire.

Key Highlights:

• Largest land transaction in Colombo – Rs. 4.5 Billion+

• Highest price per perch ever recorded – Rs. 29 Million

• 40-Storey Twin Towers – Pentara Residencies

• BOI-approved project funded by HNB

• Largest single residential high-rise investment by a Sri Lankan developer

In a landmark real estate transaction that has made history, Home Lands Group, Sri Lanka’s leading and most trusted property developer, has acquired a prime one acre land parcel in Thummulla, Colombo 7, for a staggering Rs. 4.5 billion, marking the highest ever recorded price per perch in Colombo at Rs. 29 million.

This deal is not only the largest single land transaction in the commercial and residential real estate history of Colombo but also paves the way for a visionary urban development that is set to redefine luxury living in the heart of the capital.

Introducing Pentara Residencies – Colombo’s Twin Tower Icon

Following this historic acquisition, Home Lands officially announced the launch of Pentara Residencies – Thummulla Handiya, The Address in Colombo a bold and ambitious 40 storey twin tower residential project that represents the largest high-rise investment ever made by a single Sri Lankan developer.

The project will be developed as a Board of Investment (BOI) approved venture and is financially backed by Hatton National Bank (HNB), showcasing confidence from the country’s top financial institutions in Home Lands’ proven track record and vision.

Redefining Colombo’s Skyline

Strategically located at the gateway between Colombo 5 and Colombo 7 two of the city’s most prestigious neighborhoods Pentara Residencies is expected to transform Thummulla Junction into an iconic residential address.

The twin towers will offer:

• Over 400 luxury residential units

• State of the art amenities including rooftop sky lounges, pools, fitness centers, co-working spaces, and children’s play areas

• Green building design and sustainability features

• Smart home integration and next-gen living experiences for residents

A Milestone for Sri Lankan Real Estate

This project signifies more than just a vertical expansion it marks a symbolic moment for Sri Lanka’s post-crisis real estate recovery. Despite recent economic challenges, Home Lands’ bold move demonstrates both domestic investor confidence and the continued demand for premium urban living.

Nalin Herath, Chairman of Home Lands Group, stated:
“This is not just an investment in land, but an investment in Sri Lanka’s future. We believe in Colombo’s potential as a global city. Pentara Residencies will be more than buildings it will be a lifestyle destination that redefines luxury and convenience in urban Sri Lanka.”

The Future of Vertical Living

With a proven legacy of delivering high quality residential projects islandwide, Home Lands Group has consistently led the way in pushing boundaries within Sri Lanka’s property sector. This latest project follows their successful launches of Ariyana, Canterbury Golf Villas, and Santorini, which have become benchmarks in suburban residential development.

Now, with Pentara Residencies, Home Lands is set to reshape Colombo’s skyline delivering luxury, innovation, and long term value, all from the hands of a truly homegrown Sri Lankan developer.

The post Home Lands Group Acquires Rs. 4.5Bn Colombo Property – Largest Land Deal in City’s History appeared first on Newswire.