The One (Colombo)

The One
One Colombo Render
Former names Krrish Square
Alternative names Transworks Square
General information
Status Under construction
Location Transworks Square, Colombo 01, Colombo
Address The One, Transworks Square, Colombo 1
Country Sri Lanka
Coordinates 06°56′00″N 79°50′44″E / 6.93333°N 79.84556°E / 6.93333; 79.84556Coordinates: 06°56′00″N 79°50′44″E / 6.93333°N 79.84556°E / 6.93333; 79.84556
Construction started January 2017
Completed 2023[1]
Cost US$ 650 million
Landlord Urban Development Authority
Height
Roof

376 m (1,234 ft), 326 m (1,070 ft),

291 m (955 ft)[2]
Technical details
Floor count 92, 80, 77[2][1]
Floor area 4,500,000 sq ft[1]
Design and construction
Architecture firm CCDI Group
Developer

The One Transworks Square (PVT) LTD,

Zhong Tian Ding Hui (ZTDH) Investment Company[1]
Other designers Dandi Living Limited
Edouard Francois
Wilson Associates
Main contractor Zhongtian Construction Group Company Ltd.[1]
Website
www.krrishcolombo.com

The One previously known as Krrish Square is a set of three skyscrapers under construction in Colombo, Sri Lanka.[3] The 92-floor mixed-use The One tower[2][1][4], 80-floor Ritz Carlton Hotel and Residences tower, and the 77-floor JW Marriott tower are being built on a 4.3-acre (17,401 m2) land,[5][6] leased from the Urban Development Authority (UDA) for a period of 99-years, at a cost of Rs.5 billion (approximately US$39.6 million, May 2013 rates). The 376 meter, The One tower will be the tallest building in South Asia when completed in 2023.[2][1][4]

It is owned and run by the Krrish Group, an Indian real-estate company established in 1983.[7] Official construction of the project was expected to be commenced in June 2013,[8] but was delayed until January 2017 due to payment disputes with the UDA.[3] Some test piling was conducted at the project site in early 2013.[6] The developer of The One is One Transworks Square Ltd. and the contractor is the Zhongtian Construction Group Company Ltd.[1]

According to R. P. Gupta, the CEO of Krrish Group, the commercial segment of the project is expected to attract major Fortune 500 companies who are interested in setting up offices in Colombo.[9] Several of these companies such as Samsung, Nokia, Mitsubishi, and others have expressed interest in the commercial spaces and residential apartments.[6] The Krrish Square development offices are currently located on the 35th floor of the World Trade Center's West Tower.[10]

Development

The project, currently ranked as the 10th largest of its kind in the world, current stands with a total project cost estimate of approximately US$ 650 million.[11] The Krrish Colombo project was also granted multiple tax concessions by the government, commencing with a 10-year income tax holiday and subsequently a concessionary 6% tax for the next 15 years.[11]

The project will be built over the historical Transworks House. A larger portion of the land bought for the development was previously used by the Central Bank of Sri Lanka for car parking facilities.[11] The architectural design of the project is to be carried out by Kukreja Associates, while interior design will be done by Wilson Associates of New York. Exterior landscaping will be done by Dandi Living Limited. Paris-based architect Edouard Francois will head the preservation and redevelopment of the historic Transworks House.[9]

Phase 1 of the project is set to be completed by December of 2021 with the whole project being aimed at completion by the end of 2023.[1]

See also

References

  1. 1 2 3 4 5 6 7 8 9 "'The One' project set to showcase new heights to Colombo's skyline". Daily FT. 8 June 2018. Retrieved 28 August 2018.
  2. 1 2 3 4 "'The One' project ready to showcase tallest skyscraper in South Asia". Daily Mirror. 6 June 2018. Retrieved 28 August 2018.
  3. 1 2 "All systems go for Krrish square project construction". Sunday Times. 15 January 2017. Retrieved 28 May 2017.
  4. 1 2 "The One to build tallest skyscraper in South Asia". Sunday Observer. 10 June 2018. Retrieved 28 August 2018.
  5. ↑ Sirimane, Shirajiv (2 June 2017). "Krrish Square's "Transworks House" to be ready by August". Daily News. Retrieved 4 June 2017.
  6. 1 2 3 Bandula Sirimanna (3 March 2013). "Ambitious Krrish Sq project encounters difficulties". The Sunday Times. Retrieved 5 May 2013.
  7. ↑ "The Krrish Group". Retrieved 5 May 2013.
  8. ↑ Indunil Hewage (16 March 2013). "Krrish Group to start construction by June". Daily News. Archived from the original on 3 July 2013. Retrieved 5 May 2013.
  9. 1 2 "Ambitious $460m 4-towers Krrish Square at Fort to start selling units from today". Daily FT. 27 September 2012. Archived from the original on 18 May 2013. Retrieved 5 May 2013.
  10. ↑ "Krrish Square: Inquiry". Retrieved 5 May 2013.
  11. 1 2 3 "Krrish Square construction to begin in June". The Daily Mirror. 14 March 2013. Retrieved 5 May 2013.


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