The Ground Breaking Ceremony for the Colombo City Centre, a joint venture project between Abans, Sri Lanka and Silver Needle Hospitality, Singapore took place on the 2nd of December and piling work by Sanken Lanka has already been completed. The project is due to complete in 2018. The Colombo City Centre is a mixed development of 47 stories which is to consist of a modern lifestyle Shopping Mall on the lines of the malls in Singapore and Dubai, a 200 room NEXT Hotel and 178 residential apartments. In comparison with other stand- alone apartment blocks, the Colombo City Centre would prove to be an attractive proposition because of the many conveniences it would afford due to it being a mixed development. For this reason, it is likely that the demand in the re-sale secondary market could also be high leading to good capital appreciation. Considering the above and also the location, there is a strong possibility that there would be a good rental market demand as well.