Sublime Villas Boutique Hotel (Kalpitiya Resort)

Project Details

Project Cost
USD 0.65 million
Category
Luxury Hotel (Boutique)
Location
Kalpitiya

Investing in Sri Lanka

Today Sri Lanka, as a rapidly growing country has opened new opportunities to the world. With the growth of tourism and infrastructure development in Sri Lanka the market is also rising daily. Due to these reasons investing in Sri Lanka will definitely bring benefits within matter of years.

Lush foliage and Crystal blue style concept

Situated 130 km north of Colombo’s Bandaranaike International Airport, the Kalpitiya region is one of the most beautiful coastal areas located in the Western Province. Kalpitiya is a peninsular that separates the Puttalam lagoon from the Indian Ocean and is a marine sanctuary with a diversity of habitats ranging from bar reefs, flat coastal plains, saltpans, mangrove swamps, salt marshes, vast sand dunes, tranquil beaches and is ideally suited for diverse range of water based tourism activities namely,

  • Whale & Dolphin Watching
  • Deep Sea Diving
  • Game Fishing
  • Windsurfing
  • Boating
  • Snorkeling
  • Jet Skiing
  • Kite Surfing

The Proposed Project

Kalpitiya Resort Project is a proposed property development on a two-acre prime land facing the Puttalam lagoon. This land was allocated to us by the Government of Sri Lanka on a renewable 30 year term lease for the said purpose.  The proposed boutique hotel named “Sublime Villas” will consist of 10 Floating Chalets and one Family Chalet. The architectural planning has carefully taken into consideration the uniqueness of the area, placing these chalets in an environment friendly manner, creating a sustainable eco system.  The hotel facilities will include an entrance pavilion, an open plan restaurant with bar and recreation area, a boutique to rent out diving/fishing gear, an infinity pool overlooking the lagoon will be spectacular features that add to the beauty of this resort. In addition, a boathouse will be operated from a beautiful wooden pier that extends from our property in to the lagoon and a landscaped garden to bring back the wilderness, to take you a step closer to nature.


Financial Requirement

ESTIMATED COST OF THE CAPITAL INVESTMENTS OF THE PROJECT
Description Qty Square Ft Rate per Sq.Ft Total
  LKR USD
Floating chalets 10 387 7000     186,827.59
Family chalets 1 934.61 7000   45,119.10
Entrance pavilion 1 586.75 5000   20,232.76
Kitchen 1 455.32 5000   15,700.69
Restaurant 1 1774.68 5000   61,195.86
Staff and drivers quarters 1 1624.92 5000   56,031.72
Open pavilion 1 300 5000 57,340,620.00 10,344.83
    9546.28      
           
Cost of Land, Buildings & Pool       74,500,000 485,911.82
Cost of Water Sports Equipment       8,000,000 52,178.45
Cost of Water Purification System       4,500,000 29,350.38
Cost of Plant, Machinery & Equipment       10,000,000 65,223.06
Cost of a Motor Vehicle       2,000,000 13,044.61
Working Capital       1,000,000 6,522.31
           
Total cost of the project 100,000,000.00 652,230.63
Total investment required USD 652,230.63

The Proposed Project

  • Debt Financing (Total investment required) – USD 652,230.63
  • ROI – 3%
  • Term – 6/10 years 
  • Grace Period – 24 months

Security for Financing

  • Signing of the agreement/MOU, NDA – Investor and Samrock
  • Arrange banking facilities in both ends using SPV/SPE facility
  • Fund transferring and issuing of Security bond for Financing simultaneously at both ends through the selected banker.

Project scope

No Description Time from commencement
Duration (weeks)
1 Signing MOU and NDA with all parties 01
2 Checking title clearance Completed
3 Deployment of consultants, Architectural, MEP, Structural, QS Completed
4 Agree on Design Concept
Design concept by Architect Structural plan
Completed
5 UDA clearance  
6 Final drawings
Schematic design, Obtain BOQ & MEP, Design
6.1 Schematic design, Obtain BOQ & MEP, Design   
6.2 Obtain all approvals (BOI, CEA, CCD, Forest Dept, DWC, Dept of Archaeology, Dept of Irrigation, SLTDA, UDA, SLLRDC)     
08
9 Construction commencement
9.1 Commence piling/Foundation
9.2 Complete construction
Immediately after the approvals
10 Resort opening for customers 24
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