All You Need To Know About
Colombo 02
Colombo 02 is one of the city’s most desirable residential and lifestyle districts, offering a rare mix of luxury apartments, waterfront living, and direct access to Colombo’s central business and entertainment zones. Apartment demand here is driven by expatriates, senior professionals, and investors seeking strong rental demand, lifestyle convenience, and long-term value.
History
Colombo 02, historically known as Slave Island, evolved as a residential and trading area during the colonial period, closely linked to the development of Fort and Galle Face. Over time, the area transitioned from low-rise housing into a prime urban zone, shaped by its central location and proximity to Colombo’s administrative and commercial core.
Present-Day
Colombo 02, historically known as Slave Island, evolved as a residential and trading area during the colonial period, closely linked to the development of Fort and Galle Face. Over time, the area transitioned from low-rise housing into a prime urban zone, shaped by its central location and proximity to Colombo’s administrative and commercial core.
Connectivity
Colombo 02 offers excellent connectivity, with direct access to Galle Face Green, One Galle Face Mall, Port City, and the central business district. Its location provides quick links to Colombo 01, Colombo 03, and major arterial roads, making it ideal for both residential living and daily commuting.
Top Apartment Complexes
Colombo 02 hosts some of Colombo’s most centrally located apartment complexes, popular among professionals, expatriates, and investors seeking proximity to offices, luxury hotels, retail, and the Port City. Demand here is driven by location convenience rather than suburban lifestyle features.
Key Amenities & Infrastructure
Colombo 02 (Slave Island / Union Place / Justice Akbar Mawatha belt) is a mixed-use urban district combining residential towers, offices, retail, and hospitality. Its strength lies in walkability, city connectivity, and proximity to Colombo’s main commercial and lifestyle hubs.
Quick Stats
Colombo 02 is a high-demand, centrally positioned residential market where pricing reflects access to commercial zones, lifestyle hubs, and premium infrastructure rather than sheer residential volume.
Average Apartment Sale Price (per sq.ft.)
LKR 85,000 – 115,000
Average Commercial Rental (per sq.ft.)
LKR 300 – 500 per sq.ft. / month
Average Residential Rental - 2 Bedroom
LKR 500,000 – 750,000 / month
Average Residential Rental - 3 Bedroom
LKR 550,000 – 1,000,000 / month
Apartments in Colombo 02
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