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Kristall Spaces Lanka unveils 56-unit luxury apartment project on Sri Lanka’s ‘Golden Mile’

All-Suite Resort Talpe Heights - 56 Luxury Residences on Dalawella Beach

56 BOI-approved luxury apartments now on market by Dalawella Beach, Galle, priced from Rs.50mn+ (US $ 162,615).
Projected investor returns of 13%-20% per annum, combining 5-10% expected capital growth

Kristall Spaces Lanka (Pvt.) Ltd, an associate of the award-winning Austrian developer Kristall Group, has officially unveiled All-Suite Resort Talpe Heights.

Situated along Sri Lanka’s prestigious ‘Golden Mile’ adjacent to Dalawella Beach, between Unawatuna and Talpe, this Board of Investment (BOI)-approved development comprises 56 luxury oceanfront condominiums. The project, launched in Colombo, Sri Lanka, offers investors premium residences with prices starting from Rs.50 million for a fully furnished one-bedroom apartment with parking.

Driven by a 16.7 percent year-on-year increase in tourism arrivals, the project addresses a surging demand for high-end serviced residences. The development features fully furnished one, two and three-bedroom freehold apartments, each offering ocean views and fully equipped kitchens.

Designed for the discerning global investor, the property features a private roof garden with a 25m sky pool, a landscaped garden pool anchored by an Italian bistro and a signature restaurant with in-house spa facilities. Owners benefit from underground parking, 24-hour security and concierge-style support. Post-completion, the asset will be managed by the developer’s Austrian associate, All-Suite Resorts, ensuring European operational standards. The company projects combined annual returns of 13-20 percent (capital appreciation and rental yield) and the investment structure is designed to facilitate eligibility for Sri Lanka’s ‘Golden Paradise’ long-term residence visas for qualified buyers.

Backed by 25 years of development experience in the residential and hospitality sectors and recognised as a market leader in apartment-hotel resorts in the Austrian Alps, Kristall Spaces’ expansion into Sri Lanka builds on two decades of successfully delivering high-end resorts in established European tourism markets. The company states that its entry strategy was informed by 18 months of local market observation and direct involvement as a property agent, which identified a growing demand for high-quality residential and hospitality investments with a strong focus on professional management. Commenting on the launch, Kristall Spaces Lanka CEO Simon Atterbury stated, “Our entry into Sri Lanka is guided by 25 years of experience delivering high-end real estate in competitive European tourism markets. We see strong, data-backed demand for professionally managed residential and hospitality investments and Sri Lanka’s economic trajectory makes this the right moment to commit long-term. Our operator-backed model provides investors with security, professional maintenance and a structured pathway to maximise rental income. We have deep respect for the local business environment and All-Suite Resort Talpe Heights represents the first step in what we intend to be a sustained, multi-project presence in the country.” The company confirmed that this is its second development in Sri Lanka, with a third luxury apartment project currently in the planning stages.

Outlining the group’s long-term vision, Atterbury concluded, “We have a defined 10-year development strategy and look forward to seeing where this journey takes us. Our goal is to support national tourism objectives by delivering additional bed capacity, while simultaneously providing property buyers and investors with a safe, lifestyle-oriented investment. As part of this vision, Kristall Spaces and All-Suite Resorts aim to develop and operate a pipeline of 5,000 beds.”