The proposed township when completed would be Sri Lanka's biggest housing project to be undertaken by a private company and would include shopping complexes, cinema halls, entertainment areas, swimming pools, community halls, a bus and taxi station, mini hospital and many other modern animates. Nearly 1,000 housing units are expected to be developed for this housing project which is expected to commence next year. “With the Southern Highway, people like to move out of Colombo and we are taking advantage of this scenario for this project,” he said.
Homestead, is based out of London and engaged in the development of real estate with a vision of expansion in India, Singapore, Saudi Arabia, Sri Lanka and Bangladesh. “We are also planning to build luxury high end apartments and are also looking to build two apartment towers with around 30 floors each in Colombo,” he disclosed. Asked if they foresee a market for these projects, he said that with the ending of war and mammoth construction projects in progress, they see opportunities in Sri Lanka. Shrivasyava said that they are mainly looking at the corporate sector, expatriates and also foreigners to be occupants of these apartments. He said that they have sponsored the Sri Lanka cricket team for the T20 event for a period of six years. Shrivastava, with a vast experience in real estate and well known for his innovative ideas, has extensive experience spread over 15 years with Sumitomo Group, ESSAR Group and Gold Developers (a Foreign Direct Investment Co.)