Published Thursday, 30 August 2018 Daily FT
Tamba Villas to capitalise on new amendment to property laws
The Southern coast which in recent times has witnessed a flurry of development and related activities, will soon be home to an idyllic, luxurious, yet at the same time, a home away from home development; Tamba Villas. “To build a home that is so exceptional that coming home either for a holiday, or to live there permanently would be the ultimate in paradise living! This is Eduard Hempel’s vision for his latest venture, Tamba Villas. Tamba Villas Director and Co-Project Principal Eduard Hempel expressing his vision for his latest project, which will be in excess of $ 15 million, went on to say, “We want to give each home owner an idyllic life in a beautiful, safe space with all the comforts of modern day living. Our collection of 37 villas have been purpose-built for people who like to work, holiday or retire in one of the most beautiful areas of Galle, a place that affords them a five-star lifestyle; in short Tamba villas in Thalpe.” Tamba Estates Ltd., a Sri Lankan limited company, owns 100% of the land that Tamba Villas will be built on.
Hempel went on to say that the biggest plus point in economic terms for real estate developers was the fact that foreign investors can now buy freehold in a condominium development. “On 30 July 2018, the Sri Lankan Parliament ratified an amendment to the laws so that foreigners can now buy freehold ground upwards. Previously, foreigners could only buy freehold from the 4th floor up, and consequently Sri Lankans were wary of buying the lower floors since they couldn’t sell them to foreigners.” This was having the effect of bending new buildings out of shape all over Colombo, as developers dedicated the first four floors to ‘car parking’. After all, Sri Lankans quite rightly didn’t want to purchase a property with a market that is limited, but this latest development now opens the doors wide for foreigners to invest in real estate in Sri Lanka. “We are incredibly excited, as we are just going into market with our delightful condominium/villa development in Thalpe, and it is the first of its kind in the country. Our timing couldn’t be better! Foreigners can now own their freehold, which opens up the doors globally,” said Hempel.
Tamba Villas is a delightful private coconut estate which is set back 300 metres from Thalpe beach (on the land side) surrounded by lush tropical gardens and swaying palm trees. There is only a collection of 37 homes, which have been designed by an award-winning Singaporean architectural team, to create a coastal lifestyle design with high-end amenities for living, working or early retiring in a much sought-after area in the south of Sri Lanka. Each villa has been named after a tea estate and the overall look and feel is highly reminiscent of world-renowned architect, Geoffrey Bawa. “The courtyards and verandas and the general feel of the buildings echo that grandest and most delightful and celebrated period of Sri Lanka’s architecture, the colonial period. Tamba Villas hearkens back to a bygone era where leisure and sheer gentility were the order of the day. Serenity, respite and tranquillity, combined with modern day five-star amenities and luxury pampering, will be our hallmark,” said Hempel.
Tamba Villas is a collaboration between Shakticola and award-winning AD Lab, a Singaporean architectural firm focused on cutting edge residential projects, while STIX, another award-winning landscape designer designed the lush tropical gardens. Together, they have designed generous spaces for tropical living in the form of unique villa homes which coexist in harmony with nature.
Bringing a wealth of knowledge and experience, Dawn Ratcliffe is now an integral part of the Tamba Villas team. Dawn Ratcliffe lives and works in Sri Lanka and is the Founder and Director of DR Designs. Dawn’s roots take her back to the UK where she studied at KLC School of Design, Chelsea, London United Kingdom, Insight School of Design in Hong Kong and has a Masters’ Degree in Business. She has constructed, project managed and designed various properties and interiors internationally, and has made a prestigious mark in the south of Sri Lanka in her interior creations.
Dawn is recognised for designing iconic properties in Thalpe such as Era as well as 43 Leyn Baan Street and The Living Room inside Galle Fort. “Tamba Villa buyers will also have the ease of purchasing a furniture package, either modern or classic, provided through a collaboration with a reputable company, which makes the whole process of buying and transporting furniture much easier.” Plans are also in place for a business centre, a visiting licensed doctor and a visiting beautician, while many other amenities will be added accordingly. “We are confident your villa will be an excellent investment. Property prices have been steadily going up over the last five years and will continue to rise, given our strong tourism sector and growing economy,” said Hempel.”With only 37 villas, we don’t expect they will be around for long.”