Rakesh Chandra Pandey formally receives the BOI agreement from Upul Jayasuriya. On right is the 3D image of the proposed1996 Iconic Tower

Shreepati Edifice (Pvt) Ltd, one of India’s biggest Real Estate Development Group yesterday signed an agreement with the Board of Investment of Sri Lanka (BOI) to invest US$ 330 million to construct a Mixed Development Hybrid Project of 1996 Iconic Tower.

“This magnificent high-rise iconic tower will be the landmark and the tallest building in the country. The tower will comprise of Ground +96 Floors with an approximate height of 363 meters and when completed with 376 residential apartments, 92 penthouses and modern amenities like Entertainment Desk, Business Center, Swimming Pool, Gymnasium, Spa, Outdoor Yoga and Sky Decks. It is anticipated that the tower will be completed within 48 months,” the BOI said in a statement

“The structure of the building is Tubular and is tribute to the Sri Lankan Cricket Team, which won the World Cup in 1996,” the statement added.

Chairman, BOI, Upul Jayasuriya signed the agreement on behalf of the Board of Investment of Sri Lanka and Rakesh Chandra Pandey and Rajan Sirivastav – Directors have signed on behalf of the Shreepati Group.

This state-of-the-art iconic tower is to be constructed on a two acre land at Rajagiriya which has been leased out to the M/s Wills Relators (Pvt) Ltd by the Urban Development Authority.