Silk Residencies is pleased to announce a strategic partnership with the Commercial Bank of Ceylon to offer flexible and buyer-friendly home loan facilities for purchasers of apartments at our landmark mixed-development project in Rajagiriya.
Through a recently signed Memorandum of Understanding (MoU), Commercial Bank will extend special housing loan packages to Silk Residencies buyers under a convenient tripartite arrangement involving the bank, the developer, and the customer. This collaboration ensures that homeowners can now access loans covering up to 75% of the purchase price, making luxury living at Silk Residencies more attainable than ever before.
Silk Residencies is poised to redefine urban living with a state-of-the-art mixed development spanning six residential towers, premium lifestyle amenities, a shopping complex, and entertainment facilities including a modern cinema. With an investment of USD 60 million, the project is designed to support Sri Lanka’s Megapolis and Western Region Development vision by bringing world-class infrastructure to one of Colombo’s most sought-after suburbs.
Construction began in May 2023, and the superstructure has already reached the sixth floor. With presales progressing steadily, the full project is scheduled for completion in September 2029.
Situated in Rajagiriya, Silk Residencies offers residents an unmatched combination of city convenience and a refreshing green environment, making it one of the most desirable living destinations in the region.
Home Loan Benefits for Silk Residencies Buyers
Commercial Bank, Sri Lanka’s largest private-sector lender and a global Top 1000 bank, will provide Silk Residencies customers with specially designed loan plans featuring:
- Attractive interest rates – among the lowest in the market
- Repayment flexibility with grace periods of up to five years
- Tailor-made payment structures to suit individual financial requirements
- A free Decreasing Term Assurance Policy (DTAP) for first-time home buyers, offering loan protection throughout the repayment period
These facilities enable buyers to confidently plan their investment while enjoying the security and convenience of working with one of Sri Lanka’s most trusted financial institutions.
This collaboration reinforces the commitment of both Silk Residencies and Commercial Bank to supporting high-quality real estate developments backed by credible international investors. Silk Residencies is developed by Baili Investments Lanka, a BOI-approved company backed by Hong Kong investor Mr. Tristan Wu, who brings over two decades of global development experience and a successful portfolio of projects in China. The Rajagiriya development marks the company’s debut project in Sri Lanka.
Commercial Bank’s extensive presence across Sri Lanka and internationally, along with its leadership in digital banking and sustainability as the country’s first 100% carbon-neutral bank, ensures buyers receive unmatched financial support throughout their home ownership journey.
Photo caption:
Mr. Kapila Liyanage, Assistant General Manager – Personal Banking at Commercial Bank, exchanges the agreement with Mr. Xueyuan Deng, Director of Baili Investments Lanka, in the presence of senior representatives from both organisations.
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