Category: Real Estate & Construction
Construction of building complex in Colombo Port City to start by mid-2020
Feb 17, 2020 (LBO) – Construction of the building complex in Colombo Port City will commence in the middle of this year at a cost of 15 million US dollars and the first phase is expected to be completed by 2023, the President’s Media Division said. China Communication Construction will spend 1.4 billion dollars for […]
President advises to conclude surveying of land units
Feb 12, 2020 (LBO) – President Gotabaya Rajapaksa advised to expedite the surveying of the land units during a discussion at the Presidential Secretariat today(10). President Rajapaksa stated that the government has identified a total of 14mn land units and during the last 20 years 10% of it has been surveyed. President added that he […]
Land an investment tool: Creates greater appeal for affluent
Land has been a commodity that has been looked upon as an investment for generations. The general understanding is to obtain land for housing or commercial purposes. However, land purely as a tool of investment has increasingly become an area of interest. The annual increment of land value every year is stipulated to be around […]
Ravi Wijeratne slips away from taking over MTD Walkers
Jan 28, 2020 (LBO) – Sri Lankan businessman, Ravindranath Srilal Wijeratne, alias Ravi Wijeratne has slipped away from taking over MTD Walkers. According to MTD Walkers, the agreed transaction will not be pursued, as there has been no positive development on the transaction. As the completion date stipulated in the Share Sale and Purchase Agreement […]
Port City Colombo successfully achieved 12Mn safe work hours with zero accidents
Jan 20, 2020 (LBO) – Port City Colombo has successfully achieved 12 million safe work hours with zero accidents, according to the ‘2018-2019 Social Responsibility Report’ of Port City Colombo, launched at a ceremony on Monday, 13 January 2020. This is the first Social Responsibility Report released by Port City Colombo of its parent company […]
LankaPropertyWeb sets up new Property Centre
Jan 08, 2020 (LBO) – Following over a decade of successful operation of helping people find, sell and rent property in Sri Lanka, LankaPropertyWeb.com which has become the most popular place for properties along with House.lk started a new chapter in its journey by establishing a ‘Property Centre (PC)’ in Colombo. In a prime location […]
Singapore’s Perennial to launch USD250mn mixed development project in Sri Lanka
Dec 29, 2019 (LBO) – Integrated real estate and healthcare company headquartered and listed in Singapore, Perennial Real Estate Holdings Limited is to launch a 250 million dollar mixed development project in Sri Lanka shortly. This foreign investment project will see the construction of a 30-storey commercial tower inclusive of 700 new residencies and have […]
Sri Lanka’s tallest A-grade office complex, MAGA ONE achieves full occupancy
Dec 18, 2019 (LBO) – MAGA ONE, Sri Lanka’s tallest A-grade office complex developed by the country’s largest construction company, Maga Engineering, has reached full occupancy within its first year of operations. According to the company, the building is now home to multinational giants such as Chevron, Pearson, AkzoNobel, Wiley Global, and Wabtec Corporation, together […]
‘s AHASA ONE Sky Bridge to connect two towers with pools & sun deck on top
Dec 16, 2019 (LBO) – The first of its kind in South Asia, AHASA ONE Sky Bridge is the most distinctive feature of the iconic Sapphire Residences and ITC One hotel complex. According to Sapphire Residences, this bridge will have two infinity pools and a sun deck on top; inside the structure will be a […]
Sri Lanka to review process adopted to revise original scope of Colombo Financial City
Dec 12, 2019 (LBO) – Sri Lanka’s cabinet nod has been received to appoint an expert committee to look into the process adopted by the previous government to revise the original scope of the Colombo Financial City. With the help of external consultants and the Legal Draftsman, a Bill has already been drafted to establish […]
‘t tell you about Sri Lanka
By Lanka Property Web What is Sri Lanka? Ceylon, Serendib, Taprobane, Pearl of the Indian Ocean and The Teardrop of India. It is a member of the South Asian Association for Regional Corporation (SAARC). A country that gained victory from a 30 year-long civil war and now, is the proud owner of Nelum Kuluna; The […]
Mark Mobius says Sri Lanka has foreign investors appeal for tourism, fin-tech and real estate
Dec 11, 2019 (LBO) – Emerging markets investor, Dr. Mark Mobius highlighting Sri Lanka’s strengths said he sees immense growth potential in the island as the economy has with regards to foreign investor appeal. Admitting that while Sri Lanka’s agri-based economy has always held global interest -especially with tea as its strongest brand and commodity- […]