| 1992 |
The ground breaking ceremony for the USD 130 mn World Trade Center was held on 21 August 1992 at the site. Taking part were Chairman of ORCL Mr S P Tao, then Chairman of the UDA, Mr S W P Bulankulame and the DG of the then GCEC Mr Lakshman R Watawala. |
| 1995 |
On a blustery November day, Mr S P Tao ‘Topped Out’ the World Trade Center. With both towers at their final height, Mr Tao hosted a party on the 5th floor of the East Tower to celebrate the event. |
| 1996 |
The Certificate of Conformity (COC) was obtained and the WTC building was formally commissioned in July 1996. |
| 1997 |
The grand opening of the World Trade Center was held under the patronage of the then President HE Chandrika Bandaranaike Kumaratunge on 12 October 1997.
Three days after the opening, a bomb explodes at the Galadari Hotel car park, damaging the WTC buildings. ORCL repaired the damage and restored the building to its original condition within a short span of 6 months. |
| 1998 |
Bomb damage rectification was completed and the rectified areas were officially commissioned on 01 June 1998
The World Trade Center, Colombo wins the coveted award for the ‘most energy efficient building for the year 1998’, awarded by the Ceylon Electricity Board (CEB).
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| 2003 |
Overseas Realty wins the ‘International Award Actualidad 21st Century – Leader in Prestige and Quality’ – for the year 2003. The award was created exclusively by “Actualidad”; a tourism industry and commerce magazine in Europe and is awarded to a handful of companies worldwide in recognition of splendid business management of their properties, prestige, quality of design and excellent services provided.
On 16 October 2003 the former Wellawatte Spinning & Weaving Mills site was acquired by the Shing Kwan Group as a joint venture between the Shing Kwan Group and Sri Lanka’s premier bank, the Bank of Ceylon. The Shing Kwan Group acquired a shareholding of 60% while BOC held the balance 40% (The Shing Kwan group transferred its shareholding subsequently to ORCL PLC). Mireka Capital Land (Pvt) Ltd was formed to develop the 19 acre land into a mix development project.
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| 2004 |
On 18 May 2004, Havelock City got off to an auspicious start with its Ground Breaking Ceremony at the site. |
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| 2005 |
Construction of Havelock City, got off the ground on Sunday, 27th February 2005 with the start of its piling works. The awarding of the piling contract for this mega project was made following a competitive tender by six local and international contractors. Singapore Piling & Civil Engineering (Pvt) Ltd, a Singapore-based company that has undertaken construction works for many prestigious development projects internationally and in Sri Lanka, was awarded the contract. The ceremony took place at the site under the patronage of our Chairman Mr S P Tao and officials from the BOI, UDA and other state institutions.
Mireka Homes (Pvt) Ltd signs the BOI agreement for the construction of the Havelock City residential component in the presence of the Minister of Enterprise Development and Investment Promotion Dr Sarath Amunugama and the Chairman BOI, Mr Dammika Perera.
Financial re-structuring of the company took place on 28 November 2005. In order to reduce the debt burden and the foreign exchange exposure, the redemption of RSLS, the settlement of the BOC Term Loan and issue of rupee denominated preference shares was completed.
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| 2006 |
Construction of the superstructure of Havelock City residential component begins on 31 May 2006. Shanghai Construction Group of China (SCG), a renowned building contractor who has successfully completed many large development projects was awarded the contract in a mega ceremony held at the site under the patronage of our Chairman Mr S P Tao. |
| 2006 |
ORCL undertook a successful capital raising exercise through a rights issue and a private placement in August 2006. The company raised Rs. 1,035,858,000 Mn through the exercise.
ORCL acquired 60% of the shares held by the Shing Kwan Group in Mireka Capital Land (Pvt) Ltd on 19 September 2006. The acquisition was facilitated by the National Development Bank.
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| 2007 |
Piling of the second phase of Havelock City comprising two more towers – Layards and Davidson Towers commenced in August 2007.
In October 2007, “Topping Out” of the Elibank and Park Towers of Havelock City at 22 stories high was achieved. |
| 2008 |
Havelock City wins two prestigious awards: a 5 star award for The Best Development in Sri Lanka and a four star award for the Best High Rise Development in Sri Lanka at the 2008 Asia Pacific property awards.
Mireka Commercial (Pvt) Ltd signs the BOI agreement for the construction of the commercial component of Havelock City in the presence of the Minister of Enterprise Development and Investment Promotion Dr Sarath Amunugama and the Chairman BOI, Mr Dammika Perera.
Ground Breaking Ceremony for the construction of the Link Bridge to Havelock City was held on 04 September 2008. This bridge which spans 120 feet would be an elegant structure providing main access to Havelock City Residential from Skelton Road.
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Milestones
