Prime Lands Residencies PLC signs MOU with Hatton National Bank for Flagship Luxury Project
Monday, July 18, 2022, Colombo; Prime Lands Residencies PLC recently entered into an MOU with HNB to offer an innovative financing model for potential clients to own an apartment at The Grand, Ward Place – the Prime Group’s luxury flagship project that is now nearing completion.
‘Ultimate Zero’ is a tailor-made financial solution partnered by HNB for prospective investors to secure an apartment by paying only 25% of the unit price as down-payment and begin owning their ultimate living space in the heart of Colombo 7. It has Zero VAT; Zero Interest payments within the first year and Zero Management Fees during the first-year post-handover for clients.
A customer pays only 25-percent as down payment with no instalment payments during year-one, affording clients the freedom to manage their finances while locking in the price at the current market rate.
The Prime – HNB ‘Ultimate Zero’ financing model provides a repayment period of up to 25-years, special interest rates during the promotion period, flexible payment options, step-up and residual payment methods, while providing concessions on early settlement and a grace period of up to 5-years.
“Real-estate has consistently proven to be resilient during economic challenges in Sri Lanka and we have tailored this financing model to help customers lock-in both their money and capital at the current market rates in Colombo’s most sought after property”, said Shehana Brahmanage, Executive Director, Prime Group. “As this project nears completion, we are delighted to introduce the Ultimate Zero investment option to clients allowing them greater freedom in managing their investment”.
Through this unique financial solution, affording magnificent uninterrupted views of Colombo’s skyline, with a minimum of two car parking spaces and utmost privacy in the residencies has been simplified for potential investors.
“We are very happy to be associated with the Prime Group in offering attractive concessions under the ‘Ultimate Zero’ model to those purchasing their residence at The Grand, Ward Place,” said Kanchana Karunagama – Assistant General Manager – Personal Financial Services, Hatton National Bank. “The zero-interest plan during the first-year is very attractive and this is an opportunity to align the investment with the buyer’s cashflow and start gaining ROI with a minimum down-payment.
More information can be obtained through The Grand Hotline +94 702 777 777 and by visiting the Display Suite at The Grand, available for viewing on all 7 days by prior appointment.
Prime Group has ongoing and completed projects with a portfolio of thirty individual housing projects and land projects spread across eighteen districts in the country, and more than forty apartment projects located in Colombo and the suburbs; a testament to delivering on their promises to customers, and to the group’s financial stability. This was reaffirmed by the credit rating upgrade of [SL] A (stable) assigned in April 2022 to both Prime Lands (Pvt) Ltd., and Prime Lands Residencies PLC by the Independent Rating Agency ICRA Lanka Limited (Subsidiary of Moody’s Investors Service).
