Asia Property Awards debuts in Sri Lanka: Honors industry’s growing potential

Jul 17, 2018 (LBO) – Sri Lanka’s real estate industry was honored at the first PropertyGuru Asia Property Awards which was held at the Shangri-La, Colombo, recently.

The awards recognised the real estate sector’s tremendous potential, with the island’s most innovative developers and current developments of the year chosen by an independent panel of experts following a rigorous selection process over the last nine months.

With over 350 attendees and government VIPs including the strong delegation of Sri Lanka’s Megapolis and Western Development Minister Patali Champika Ranawaka the awards honored the best real estate projects in Colombo, Greater Colombo, Central and Southern districts, as well as achievement in green development and public facility.

Prime Group took home the coveted Best Developer title – the evening’s highest honour with one commendation in the Best Mid End Condo Development category.

Pradeep Moraes of Altair was honoured as the first Sri Lanka Real Estate Personality of the Year.

One of the most anticipated moments of the ceremony was the introduction of Pradeep Moraes as the first-ever Sri Lanka Real Estate Personality of the Year recipient.

Moraes, current chairman of the Condominium Developers Association of Sri Lanka and a director at
Indocean Developers – the team behind the award-winning Altair twin-tower luxury development in
Colombo – was handpicked by the editors of PropertyGuru Property Report magazine for leading a
multifaceted 40-year career and raising the profile of Sri Lankan real estate regionally.

Collecting the Best Boutique Developer trophy was two-time winner Capital TRUST Residencies (Pvt.) Ltd., whilst Maga Engineering (Pvt) Limited won the biggest number of trophies with four.

It was a big night for one of South Asia’s most renowned environment-conscious construction firms,
as Maga Engineering also received the Special Recognition in Sustainable Development and the
Best Green Development awards. In addition, the MAGA ONE project won Best Office Development.

Multiple winners of the night included Blue Ocean Group of Companies, Home Lands Skyline Pvt Ltd, and Indocean Developers (Pvt) Ltd, earning three golden statuettes each during the three-hour gala.

A total of 23 awards were presented to 13 outstanding real estate companies that received the industry’s highest honours, with main category winners later advancing to the regional PropertyGuru Asia Property Awards Grand in Bangkok, Thailand this November.

Sri Lanka’s public sector was also recognised at the inaugural event in Colombo with the Special Recognition for Public Facility. The Ministry of Megapolis and Western Development accepted the award for the Beira Lake Intervention Area Development Plan, and the Urban Development Authority (UDA) earned the same for the much-publicised Urban Regeneration Project.

The Megapolis and Western Development Minister Patali Champika Ranawaka was present as the evening’s chief guest to deliver the opening keynote address at the ceremony.

The 2018 PropertyGuru Asia Property Awards (Sri Lanka) was supported by co-sponsors JLL and OTIS Aitken Spence Elevators; official broadcaster ART Television; official newspaper Daily FT; official portal partner LankaPropertyWeb.com; official hotel Shangri-La Hotel, Colombo; media partners The Big Issue and PropertyGuru Property Report; supporting association Ceylon Institute of Builders; and official supervisor BDO Sri Lanka, a part of the world’s fifth largest accounting and auditing firm.

The independent judging panel was led by Dr. Nirmal de Silva (CEO, Paramount Realty), with Steven Mayes (Managing Director, JLL Sri Lanka); Stephanie Balendra (Director, Homes N Spaces Lanka Properties (pvt) Ltd.); Emeritus Prof. Chitra Weddikkra (Managing Director, QServe Pte Ltd); Roshan Madawela (Director & Founding CEO, Research Intelligence Unit); Natalie Pendigrast (Founder & Director, Pendi Pvt Ltd); Nilesh De Silva (Chartered Architect/Director, Kahawati De Silva & Associates Pvt Ltd (KDS). The supervising team was led by Sujeewa Rajapakse (Managing Partner, BDO Sri Lanka).