Micro Constructions forms JV to build residential complex

Colomo: Micro Constructions, part of Micro Cars, has decided to build residential complex in joint venture with a Malaysian firm.

The 20 floor housing complex will be established at a total cost of USD 200 million. Micro Constructions will be investing 30 per cent of the proposed investment.

The company is in the stage of acquiring necessary lands for the project at Peliyagoda area in Colombo.

The works on the project will begin in the fourth quarter of 2008.

CEO of Micro Constructions and Group Director of Micro Cars C.P Guhashanka

Micro Constructions is targeting middle and up market segment for this new housing project.

Micro Construction will deploy eco friendly building technology without using the conventional building materials. The new technology is insulated, load bearing, structural panels system, which use permanent construction according to US and European Standards.

Micro Construction introduced this building technology three years ago to Sri Lanka. The company has completed projects worth Rs. 400,000,000 including housing complexes and hospitals using this technology for different clients.

Meanwhile Brandix Apparels also engaged the company to construct their new eco friendly factory complex in Ratmalana using this latest building technology. he said.