June 30, 2015 (LBO) – Sri Lanka’s leading construction company, Access Engineering is to enter into the highly growing property development sector with 524 million rupees of investment, the company said.
The company has invested 273.6 million rupees to acquire Horizon Holdings Ventures private limited incorporated in this month.
It has also invested 250.0 million rupees to buy 50 percent of the ordinary shares in Horizon Holdings private limited which incorporated in March 2014.
The two companies are currently in the business of developing their property located in Malabe over an extent of 12.5 acres, Access Engineering said.
“This will enable AEL to enter the promising property development sector adding a complimentary segment to its operations.” Access Engineering said.