Access Engineering sees 35% pre-sales at Harbour Village

The Harbour Village mixed development project by Access Engineering PLC has seen 35 per cent pre-sales and the latter has invested a cumulative Rs.3.0 billion so far, out of an estimated Rs.10 billion project as the company’s pivot to property development business appears bringing results.

Harbour Village or the Marina Square mixed development project is a joint venture between Access Engineering PLC, China Harbour Engineering Company Limited, and Mustafa’s (Pvt) Ltd (Singapore) with Access Engineering holding 60.83 per cent stake in Harbour Village Private Limited, an entity set up to oversee the project.

The five- towered mixed development project, each spanning 36 floors consisting of 1,068 units of residential units and 150,000 square feet of commercial space in a 5-acre land in Colombo 15 is the largest property development project undertaken by Access Engineering. The project which began construction in late 2019 is expected to end the design works in December 2022, the company said.

The project, once completed will significantly alter Access Engineering group’s existing posture as its ongoing real estate tilt could reset its portfolio, currently dominated by the engineering and construction sectors.