The Commercial Bank of Ceylon has partnered with Capital Trust Properties, a leading real estate brokerage firm, to provide enhanced home-buying opportunities for Sri Lankans. Through this strategic collaboration, prospective homeowners can access tailored home loans from Commercial Bank, with a particular focus on financing apartments in major property developments. The partnership was formalized through
John Keells Properties has achieved an impressive Rs 4.2 billion in sales for its VIMAN Ja-Ela apartments before construction even began on August 26, 2024. This remarkable milestone highlights the strong demand and interest from both investors and homebuyers. VIMAN Ja-Ela is more than just a residential project; it introduces a fresh concept in suburban
DFCC Bank has announced an exclusive partnership with Home Lands Skyline (Private) Limited, aiming to transform the housing loan sector. The collaboration, formalized through a memorandum of understanding (MOU) signed on June 28th, will provide potential home buyers and real estate investors with enhanced benefits and streamlined loan solutions. The signing ceremony featured key figures
Sri Lanka’s real estate and construction sectors are showing signs of recovery, but challenges persist due to inconsistent policies and high taxation, according to industry stakeholders. Sivarajah Thumilan, Founder and Chairman of Blue Ocean Group of Companies, highlighted that these issues are undermining the sector’s global competitiveness despite its significant potential for foreign exchange earnings.
The Research Intelligence Unit (RIUNIT), an international research and consulting firm with its Asia headquarters in Colombo, successfully launched its latest initiative, “Asia’s Real Estate Opportunity of the Century,” on July 16th at the prestigious Port City Sales Gallery, Port City. This landmark event aims to open doors for local developers and investors to engage
The Sri Lankan land market has experienced significant interest, with bare land being the most sought-after, representing 46% of the market. Land prices in the Western Province rose by 2% from 2022 to 2023, reflecting regional variations across different land types including tea, rubber, coconut, and beachfront properties. Looking forward, the Sri Lankan real estate
The Sri Lankan Cabinet of Ministers has approved the establishment of a Land Management Trust to address longstanding challenges in utilizing government-owned land for economic development. This initiative aims to streamline the process, attract investments, and unlock new opportunities for job creation. Currently, the Sri Lankan government holds a significant portion of the country’s land,
Sri Lanka’s construction industry appears to be showing initial signs of recovery, according to the January 2024 Purchasing Managers’ Index (PMI) for Construction. The Total Activity Index, a key indicator of overall activity, surpassed the neutral threshold of 50 for the first time since January 2022, registering an index value of 52.9. This positive development
In a significant development for the Colombo Port City Special Economic Zone (SEZ), the Colombo Port City Economic Commission has issued Authorized Persons (AP) licenses to three of Sri Lanka’s prominent commercial banks—Commercial Bank, Hatton National Bank (HNB), and Sampath Bank. This milestone achievement underscores the transformative journey of the Colombo Port City SEZ, positioning
In the dynamic world of construction in Sri Lanka, the year 2024 unveils significant shifts in cost considerations for building houses. Despite facing unprecedented challenges, the sector is witnessing a positive transformation marked by controlled inflation and eased import restrictions. The trajectory of construction costs, which surged in mid-2022, underwent a notable change in 2023.