Status Under construction Country Sri Lanka Top floor 280 m (920 ft) | Location Colombo 01, Colombo Opened Late 2016 Cost 650 million USD | |
Landlord Urban Development Authority Address York St, Colombo, Sri Lanka Similar Hilton Colombo Residenc, Crescat Residenc, Grand Hyatt Colombo, Ceylinco Insurance PLC Srila | ||
Krrish square and linked hybrid final draft
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, leased from the Urban Development Authority for a period of 99-years, at a cost of Rs.5 billion (approximately US$39.6 million, May 2013 rates). The project is owned and run Krrish Group, an Indian real-estate company established in 1983. Official construction of the project was expected to be ceremonially commenced in June 2013, but nothing has yet been announced. The entire project is slated for completion no earlier than 2016. Some test piling commenced at the project site in early 2013. In 2014 Ritz-Carlton partnered with Krrish and the construction is expected to begin in October 2014
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According to R. P. Gupta, the CEO of Krrish Group, the commercial segment of the project is expected to attract major Fortune 500 companies who are interested in setting up offices in Colombo. Several of these companies such as Samsung, Nokia, Mitsubishi, and others have expressed interest in the commercial spaces and residential apartments. The Krrish Square development offices are currently located on the 35th floor of the World Trade Center's West Tower.
Development
The project, currently ranked as the 10th largest of its kind in the world, current stands with a total project cost estimate of approximately US$ 650 million. 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.
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.
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. The three towers will be connected by two large skybridges.
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.