Kristall Spaces Lanka (Pvt) Ltd, an associate of the award-winning Austrian developer Kristall Group, has announced the launch of All-Suite Resort Talpe Heights, a BOI-approved luxury development located along Sri Lanka’s renowned “Golden Mile” by Dalawella Beach, between Unawatuna and Talpe. The project features 56 oceanfront condominiums, with prices starting at LKR 50 million (approximately USD 162,615) for a fully furnished one-bedroom apartment with parking.
The development is positioned to meet increasing demand for high-end serviced residences, driven by a 16.7% year-on-year rise in tourism arrivals. Investors can choose from fully furnished one-, two-, and three-bedroom freehold apartments, all offering ocean views and fully equipped kitchens. Amenities include a private roof garden with a 25-meter sky pool, a landscaped garden pool complemented by an Italian bistro, and a signature restaurant with in-house spa facilities. Residents will benefit from underground parking, 24-hour security, and concierge services.
After completion, the property will be managed by All-Suite Resorts, the Austrian associate of the developer, ensuring European operational standards. The company projects combined annual returns of 13–20%, combining 5–10% expected capital growth with 8–10% rental income. The investment structure is designed to support eligibility for Sri Lanka’s ‘Golden Paradise’ long-term residence visa for qualified buyers.
With 25 years of experience in residential and hospitality development and a strong track record in the Austrian Alps, Kristall Spaces is leveraging its expertise to expand into the Sri Lankan market. The decision to enter Sri Lanka followed 18 months of local market research and direct involvement as a property agent, which highlighted a growing demand for professionally managed, high-quality investments in residential and hospitality sectors.
Simon Atterbury, CEO of Kristall Spaces Lanka (Pvt) Ltd, commented on the launch: “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 maximize 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.”
This marks Kristall Spaces’ second development in Sri Lanka, with a third luxury apartment project currently in planning. Outlining the group’s long-term vision, Atterbury added: “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.”
The company’s expansion comes amid renewed confidence in Sri Lanka’s property sector, fueled by improving macroeconomic conditions, rising interest from the diaspora, and a robust tourism recovery. By introducing ownership models, facility management, and rental income mechanisms aligned with European holiday markets, Kristall Spaces positions All-Suite Resort Talpe Heights as a secure investment opportunity in the current market.
All-Suite Resort Talpe Heights highlights:
- All apartments offer uninterrupted ocean views
- Fully furnished units starting from LKR 50 million
- 25-meter sky pool with panoramic ocean vistas
Image Caption: All-Suite Resort Talpe Heights – 56 Luxury Residences on Dalawella Beach
Leave a Reply