Chatra, a property development brand of the EMS Leisure group, intends to promote nature-focused holiday homes and hospitality spaces that preserve natural ecosystems and empower local communities. In doing so, it wants to open up Sri Lanka as a unique destination with matchless advantages in the global real estate market, explains Vinod K.V., Group CEO of EMS.

Chatra is a Sanskrit word that refers to an umbrella – a symbol of social status, a mark of royalty and inner meaning across the South Asian region – and aptly captures the essence of the unique living experiences the company creates. A gated community of uber-luxury villas Chatra is located in the tranquil locale of Digana, Kandy. Offering waterfront properties and panoramic views of the Knuckles Mountain Range, the villas are modern, minimalist and stylish, designed for discerning homeowners conscious of tranquil living and yet indulge in contemporary luxury.

In this interview, Vinod starts by explaining Chatra’s approach to designing and developing unique living spaces, and as a real estate developer, what sets Chatra apart:

The company vision focuses on creating unique living experiences while enhancing natural wellbeing. At the heart of our unique approach to real estate development is the symbiotic relationship between a structure and its location, the environment. Harmony between the two is a vital aspect for us. They need to work in conjunction. We believe that is key.

Hence, the location goes a long way in influencing our designs. Sri Lanka is resplendent with breath-taking environs, and we firmly believe that their preservation offers more of an advantage to real estate development than trying to change them. Most developers would acknowledge this, but very few put it into practice.

Chatra is one of the few property developers, if not the only one, that embodies the environment and its wellbeing into our designs for living experiences. Our properties focus on being one with nature with minimalist architecture, and we take great pains to incorporate sustainability into our designs in such a way as to lead to awareness through indulgence.

Chatra focuses on the uber-luxury segment. Can you take us through your unique projects and locations?

Chatra is our first foray into real estate development, and it is the showcase that announces our vision and capabilities to the market.

Whatever you see in Chatra, from the location to the design and development process, will carry on to all our other projects.

We have some exciting plans for Sri Lanka. Not only do we see great value in the market, but as a Sri Lankan company, we believe that the time is ripe for the Sri Lankan real estate sector to carve out its unique offering and secure its place in the global real estate market.

There should be a clear difference between Sri Lankan Uber Luxury properties against others anywhere else in the world. We firmly believe we have a responsibility to take the lead in driving that strategy, and we are committed to that endeavour.

Chatra has a value proposition to create nature-focused holiday homes and hospitality properties. What market factors and opportunities influenced the company to take this route?

We believe that there is value in forecasted growth in post Covid real estate market conditions and tourism which is already visible. Although we conceptualised Chatra before the pandemic, we believe that the post-Covid environment will be conducive to a real estate boom.

And tourism will see a strong recovery too. Despite the current prevailing economic state of the island, we are seeing movement in this specific sector of high-end experience-based living.

Furthermore, we believe that consumers, whether we like it or not, do not have the luxury of total detachment. So, when they can escape, they need to be cossetted, comfortable and content without completely detaching themselves from their lifestyles. Hence, our development gives them the detachment without giving up on their lifestyles. That is a prerequisite intuitively factored into every aspect of our projects.

Given the challenges confronting the economy, investors are concerned about their investments and timely delivery. What assurances do you give your clients?

We take pride in tangibly demonstrating to our investors that we truly understand the value of their investment. This is one of the most important considerations for us as a developer. We have committed significant resources to ensure high-quality and timely delivery, critical factors in fulfilling the promised ROIs to our clients, even to the extent of looking at introducing internationally adapted best practices and processes that ensure the security of our client’s investments.

We believe while novel, such practices and processes are needed as the market matures and should become the norm. Hence, why we have deployed similar processes throughout the company to ensure we meet the stated deliverables and exceed customer expectations.

How will you ensure continuous investor returns?

This is dependent on various factors. For one thing, investors have always been bullish on real estate.

Our villas form a part of a gated community with well-enunciated facilities and amenities curated for a great second home opportunity. That has been a primary consideration in our business. Our investors are our partners, and it is a partnership we hope will continue. Hence their viewpoints and expectations must be considered and met.

Chatra also offers interested buyers, to a limited extent, ROI plans on their investment capped with a three-year renewable contract confirming returns ranging from 5-7%. The cumulative effect of capital gains and rental ROI will provide participating owners with the opportunity to grow their investments even as they are away from their property.

Can you elucidate how Chatra is shaping economic ecosystems that support local communities?

This was a key consideration to us from the very beginning. Often, local communities are just a feelgood soundbite, while in fact, they are relegated as outsiders looking in. In our case, they have become active partners. From hiring and sourcing goods and services from the community, our engagement is deep and far-reaching, and will no doubt empower communities and uplift local economies.

We also strive to preserve the local customs and idiosyncrasies of the local ecosystem that give it charm and richness. This is what makes these localities so beautiful, and our efforts will concentrate on working with and within these local ecosystems that they may benefit and preserve their own identity.