Number of floors
The developer, Ashkars Land Development Co., delivers a product which is long overdue in Sri Lanka as a beach resort destination. It is the fusion of affordable beachfront villas and hotel living. Ovakanda Beach Resort comprises of 24 3-bed villas (each with private pool) in a resort-style setting with amenities such as bar & restaurant, gym, 24 hour in-villa room service, daily house keeping, 24-hour concierge and security service.
Beautiful 2.2 acre beachfront coconut plantation in southern Sri Lanka within an established and increasingly popular tourist region. It is just over 2 hours from both the capital city (Colombo) and the main international airport (CMB – Bandaranaike International Airport).
Serviced hotel/resort investments are a relative new concept in property investments and are an attractive option as they offer high yields and strong capital growth, whilst being a completely passive investment. The concept is simple, investors are offered the opportunity to invest in a villa within the resort and receive revenue based on the resort’s operation. This outstanding unique opportunity offers a limited supply of serviced villas with a guaranteed return of 6% NET per year for 10 years. It is a hassle free and fully managed investment. Unlike purchasing individual apartments or houses, investors are not burdened with on-going management and repair costs. Investors enjoy 90 days free usage per year. Invest in a villa from just USD $198,000 NET to USD $250,000 NET.
With a remarkable five-fold increase in tourist arrivals from 400,000 in 2008 to 2 million by 2016, international hotel groups (Shangri-La, Marriott, Minor, Movenpick) have all recently opened hotels and resorts in the country. While Hilton Hotels and Resorts has inked a deal in Q2, 2017 to manage six hotels in Sri Lanka to be built by Colombo-based Melwa Steel Group who are investing USD $100mn.
The 3-bedroom (104 m2 / 1,120 ft2) villas feature modern, fully fitted stainless steel kitchens with spacious dining areas, large lounges kitted out with 40' High Definition LCD TVs, and a private swimming pool. Each bedroom has an ensuite bathroom fitted with European standard fixtures.
Ashkars Land Development Company's process is a simple one of meticulously researching unmet real estate demand in Sri Lanka and devising & implementing projects to meet the demand.
British Managing Director Ashkar Ahamed was a Sri Lanka property investment specialist based in Sri Lanka exclusively advising Singaporean and expat high net worth (HNW) investors on acquisitions of heritage buildings in Galle Fort; a fortified colonial-era town with UNESCO World Heritage Site status.
In 2013, using his unique proximity to the Sri Lanka property market, he identified undervalued beachfront land on the south coast which was due to benefit in the short term from infrastructure improvements. In particular, the Southern Expressway connecting the airport (and the Capital Colombo) to Matara. The new highway halved the driving time from the airport to the southernmost shores of Sri Lanka from approximately 4 to 2 hours. The beachfront land acquired for clients using this investment strategy delivered impressive returns within a three-year period; typically doubling or tripling in value.
Having invested in Sri Lanka on behalf of others successfully, Ashkar has since made the natural progression into property development; founding and serving as Managing Director of Ashkars Land Development Company.