Krrish Square

Krrish Square
General information
Status Under construction
Location Colombo 01, Colombo
Country Sri Lanka
Coordinates 06°56′00″N 79°50′44″E / 6.93333°N 79.84556°E / 6.93333; 79.84556Coordinates: 06°56′00″N 79°50′44″E / 6.93333°N 79.84556°E / 6.93333; 79.84556
Opening Late 2016
Cost US$ 650 million
Landlord Urban Development Authority
Height
Top floor 420 m (1,380 ft)
Technical details
Floor count 95, 90, 65
Design and construction
Architecture firm Kukreja Associates
Other designers Dandi Living Limited
Edouard Francois
Wilson Associates
Website
www.krrishcolombo.com

Krrish Square is a set of four supertall skyscrapers under construction in Colombo, Sri Lanka. The multi-purpose residential and commercial will be built on a 4.3-acre (17,401 m2) land,[1] leased from the Urban Development Authority for a period of 99-years, at a cost of Rs.5 billion (approximately US$39.6 million, May 2013 rates). The project is owned and run Krrish Group, an Indian real-estate company established in 1983.[2] Official construction of the project was expected to be ceremonially commenced in June 2013,[3] but nothing has yet been announced. The entire project is slated for completion no earlier than 2016. Some test piling commenced at the project site in early 2013.[1] In 2014 Ritz-Carlton partnered with Krrish and the construction is expected to begin in October 2014 [4]

According to R. P. Gupta, the CEO of Krrish Group, the commercial segment of the project is expected to attract major Fortune 500 companies who are interested in setting up offices in Colombo.[5] Several of these companies such as Samsung, Nokia, Mitsubishi, and others have expressed interest in the commercial spaces and residential apartments.[1] The Krrish Square development offices are currently located on the 35th floor of the World Trade Center's West Tower.[6]

Development

The project, currently ranked as the 10th largest of its kind in the world, current stands with a total project cost estimate of approximately US$ 650 million.[7] The Krrish Colombo project was also granted multiple tax concessions by the government, commencing with a 10-year income tax holiday and subsequently a concessionary 6% tax for the next 15 years.[7]

The architectural design of the project is to be carried out by Kukreja Associates, while interior design will be done by Wilson Associates of New York. Exterior landscaping will be done by Dandi Living Limited. Paris-based architect Edouard Francois will head the preservation and redevelopment of the historic Transworks House.[5]

The entire Krrish development will have a 10-floor base "podium", to be used for car parking, high-end retail stores, and shopping complexes. Four supertall skyscrapers will be built over this podium, consisting of towers of 85 floors, 80 floors, and two towers of 55 floors, thus topping combined podium-and-tower heights of 95 floors, 90 floors, and two towers of 65 floors respectively. The last three tallest towers will be primarily used for residential purposes, while the first and tallest tower will be used for commercial purposes like housing office spaces, a 7-star hotel, etc.[5][8] The three towers will be connected by two large skybridges.[9]

If constructions go according to plan, the towers would be some of the tallest buildings in the world.

The project will be built over the historical Transworks House. A larger portion of the land bought for the development was previously used by the Central Bank of Sri Lanka for car parking facilities.[7]

See also

References

  1. 1 2 3 Bandula Sirimanna (3 March 2013). "Ambitious Krrish Sq project encounters difficulties". The Sunday Times. Retrieved 5 May 2013.
  2. ↑ "The Krrish Group". Retrieved 5 May 2013.
  3. ↑ Indunil Hewage (16 March 2013). "Krrish Group to start construction by June". Daily News. Retrieved 5 May 2013.
  4. ↑ http://www.adaderana.lk/bizenglish/exclusive-krrish-chairman-in-special-meeting-with-government/
  5. 1 2 3 "Ambitious $460m 4-towers Krrish Square at Fort to start selling units from today". Daily FT. 27 September 2012. Retrieved 5 May 2013.
  6. ↑ "Krrish Square: Inquiry". Retrieved 5 May 2013.
  7. 1 2 3 "Krrish Square construction to begin in June". The Daily Mirror. 14 March 2013. Retrieved 5 May 2013.
  8. ↑ "Krrish Square in Sri Lanka". BusinessToday.lk. Retrieved 5 May 2013. External link in |newspaper= (help)
  9. ↑ "Edouard Francois: Heritage Building". Edouard Francois. Retrieved 11 May 2013.

External links

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