13 residential floors, 78 residences and six parking levels planned
Jaffna is set to welcome its tallest residential building following the signing of an agreement between Tilko Blue Ocean Holdings Ltd. and the Board of Investment of Sri Lanka (BOI) for the development of the 78-unit Yarl Royal Palace.
Located at No. 107, Kandy Road, overlooking the historic Old Park, the project is expected to become a landmark in Northern Sri Lanka and set a new benchmark for high-rise residential development in the region.
The development will comprise six levels of parking, 13 residential floors and 78 residences. The BOI has not disclosed the project’s investment value, construction timeline or expected completion date.
The BOI described Yarl Royal Palace as a significant private-sector investment in Jaffna and the wider Northern Province, with the project expected to generate economic activity across sectors including construction, engineering, professional consultancy, building materials, logistics, financial services and property management.
The project also aims to tap into Jaffna’s strong connections with the global Tamil diaspora, particularly communities in the United Kingdom, Canada, Australia, France, Switzerland and Germany. According to the BOI, the development will provide overseas families, professionals and investors with an opportunity to participate in Jaffna’s growing property market.
The BOI said Jaffna’s entrepreneurial community, professional and educational base, improving infrastructure, availability of urban land and strong diaspora connections provide a solid foundation for further private-sector investment.
It added that a development of this scale signals the potential for large-scale private investment beyond Sri Lanka’s traditional real estate markets.
Tilko Blue Ocean Holdings said the project reflects its long-term confidence in the economic potential of Northern Sri Lanka and its commitment to further investment in the region.
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