FINANCIAL CHRONICLE – Altair Residences, a prominent high-rise project in Colombo, has commenced the issuance of title deeds following its acquisition by Blackstone India, according to a recent statement.
Previously promoted by Indocean Developers Pvt Ltd (IDPL), the project had been entangled in legal disputes prior to the takeover by Blackstone. Over 100 apartment owners have now executed individual title deeds, securing legal ownership of their apartments. The statement mentioned that efforts are underway to expedite this process further.
“Over the past six months, this process at Altair has progressed in a structured and transparent manner, alongside the formal establishment of owner-led governance,” explained Thilan Wijesinghe, Chairman of TWC Holdings. Wijesinghe, along with a team from TWC, represents Blackstone’s interests in Sri Lanka.
The Altair Management Council has been established and has appointed Realty Management Services (RMS), a subsidiary of Overseas Realty Ceylon PLC, as the new facility manager for Altair.
“The appointment of experienced facility managers is a fundamental building block for long-term value creation for apartment owners and proper asset stewardship,” Wijesinghe added.
(Colombo/Jan29/2026)
