Prime & Melwa become leading property investor in Port City Colombo after acquiring their third and one of the most sought-after land parcels in the Marina District, expanding their combined holdings to approximately 16 acres and reinforcing their long-term commitment to Sri Lanka’s flagship mixed-use development.
Prime & Melwa become leading property investor in Port City Colombo with third Marina land acquisition
The latest acquisition makes the Prime-Melwa partnership the largest property investor in Port City Colombo, strengthening its position as a key player in one of South Asia’s most ambitious urban development projects. The companies said the investment reflects a shared vision of elevating Sri Lankan real estate to international standards while showcasing the country’s property sector on the global stage.
Located in the prestigious Marina District, the newly acquired land parcel will be developed into a mixed-use project, further expanding the partnership’s presence in what is expected to become Sri Lanka’s premier waterfront destination. The Marina District is regarded as one of the most exclusive addresses within Port City Colombo, attracting significant investor interest due to its limited supply, premium location and long-term value appreciation potential.
The district occupies only around one percent of the entire Port City development, making marina-front properties exceptionally scarce. With infrastructure in the Marina Area expected to be completed within the next five years—well ahead of many other zones in the project—the location has become increasingly attractive for developers and investors seeking early opportunities in Colombo’s emerging international financial and lifestyle hub.
The latest purchase brings the partnership’s total landholding in Port City Colombo to approximately 16 acres across three strategic land parcels. The acquisition represents another milestone in the companies’ expansion strategy and demonstrates continued confidence in Sri Lanka’s economic outlook and the future of the country’s real estate sector.
Commenting on the acquisition, Prime Group Chairman Premalal Brahmanage said becoming the largest investor in Port City Colombo reflects the company’s confidence in Sri Lanka’s future and the transformative potential of the development.
He said the Marina District is expected to evolve into a world-class waterfront destination and that the partnership aims to position Sri Lanka, Port City Colombo and the country’s real estate sector on the global investment map through iconic developments that showcase local capabilities to international investors.
The announcement follows the successful launch of Prime Marina, the partnership’s first project within Port City Colombo. According to the company, the development generated strong market interest following its launch on June 10, with record sales reflecting confidence from both local and overseas buyers.
The performance of Prime Marina has reinforced investor confidence in the partnership’s long-term strategy and highlighted growing demand for premium waterfront developments within the Port City project. The companies believe the latest acquisition will further strengthen their development pipeline while contributing to the transformation of Colombo into a competitive regional investment destination.
The continued expansion also reflects broader optimism surrounding Sri Lanka real estate as investor sentiment gradually improves amid economic stabilisation and renewed infrastructure investment. Industry observers have identified Port City Colombo as one of the country’s most significant long-term development initiatives, with the potential to attract foreign direct investment across real estate, financial services, tourism and commercial sectors.
With three strategic land acquisitions now secured, Prime and Melwa have established a dominant position within the Marina District. Their growing investment portfolio is expected to play a significant role in shaping the future skyline of Port City Colombo while supporting the project’s ambition to become a globally recognised business, residential and lifestyle destination.
Prime & Melwa become leading property investor in Port City Colombo underscores the partnership’s long-term commitment to Sri Lanka’s property market and its confidence that Port City Colombo will emerge as a leading destination for international real estate investment in the years ahead.