Fracspace officially unveiled Altaira, its landmark ultra-luxury hillside development, at a grand launch event held at Cinnamon Life, Colombo, on February 14, 2026. The exclusive gathering brought together prominent personalities from the worlds of business, hospitality, real estate, and investment, marking a significant milestone as Fracspace formally enters the Sri Lankan market.
The evening celebrated the introduction of Altaira — a one-of-a-kind elevated luxury destination designed to blend nature, architecture, and experiential living. The project consists of 40 private condominium villas and 24 luxury Ridge Suites, all within a fully managed resort ecosystem, offering discerning buyers privacy, curated experiences, and long-term ownership value. During the launch, Fracspace announced the pre-launch investment pricing, with Ridge Suites starting at USD 180,000 and Luxury Villas beginning at USD 480,000, generating strong interest from global investors, holiday-home buyers, and lifestyle enthusiasts in attendance.
Fracspace Expands Beyond Borders
With Altaira, Fracspace expands its growing international footprint, bringing its proven expertise in curated real estate, hospitality, and destination-driven developments to Sri Lanka. The project represents the company’s vision of creating experience-focused second homes that combine long-term lifestyle ownership with seamless management, privacy and investment potential.
Speaking at the event, Unnath Reddy, Founder at Fracspace emphasized that Sri Lanka’s rising global tourism appeal, natural diversity, and strategic location make it an ideal destination for next-generation luxury developments.
Altaira marks the beginning of Fracspace’s long-term commitment to the region, positioning Sri Lanka as a key hub in its global expansion strategy across hospitality and experiential real estate.
During the unveiling, Danuna Tilakarathne, Director Fracspace Ceylon Pvt Ltd. shared insights into the extraordinary setting of Altaira, describing the land as a rare natural sanctuary located approximately 3,200 feet above sea level. Surrounded by rolling hills, mist-covered landscapes, and untouched natural beauty, the site offers panoramic vistas and a climate uniquely suited for wellness, retreat living, and luxury resort hospitality.
Principal Architect, Mr Ranga Fernando, The Inside Project – highlighted the project’s vision of preserving the character of the land while creating a thoughtfully integrated development that celebrates Sri Lanka’s ecological richness and cultural essence.
The Deputy Minister of Tourism announced the preliminary approvals being issued at the launch event, affirming Altaira’s readiness for development.
Lastly, Fracspace emphasized: “Altaira is not just a development — it is a lifestyle destination shaped by altitude, serenity, and nature,”reflecting the uniqueness of the location and its potential to become a globally recognized mountain retreat.
The grand launch concluded with strong investor engagement and early expressions of interest, signaling promising momentum for Altaira ahead of its next phase. With its limited inventory, elevated setting, curated design, and international outlook, Altaira represents a defining step in Fracspace’s journey — bringing together investment, hospitality, and lifestyle into a singular destination above the clouds.
Image Caption:
From left to right: Unnath Reddy – Founder of Fracspace; Shravan Mukund – Fracspace India Business Partner; Hon. Kithnan Selvarage – Member of Parliament and Chairman of the Badulla District Development Committee; Hon. T.B. Sarath – Deputy Minister of Housing; Hon. (Prof.) Ruwan Ranasinghe – Deputy Minister of Tourism; and Danuna Tillakaratne – Director, Fracspace Ceylon, at the official unveiling of Altaira at Cinnamon Life, Colombo, marking Fracspace’s formal entry into the Sri Lankan market.
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