Category: Real Estate & Construction
Sri Lanka seeks Chinese loan for South expressway consultancy
Dec 21, 2016 (LBO) – Sri Lanka is seeking a loan of Renminbi Yuan 577 million from China to finance the consultancy services for design review and construction supervision of civil works for the extension of the southern expressway project. The Cabinet nod has been given to a proposal made by Finance Minister Ravi Karunanayake […]
Korea Eximbank discusses Kandy traffic network with RDA
Dec 05, 2016 (LBO) – Export-Import Bank of Korea (Korea Eximbank) has begun supporting the connectivity plan of the traffic network in Kandy city through a knowledge sharing program, with a delegation holding its first workshop last week. Korea Eximbank intends to share the traffic network expansion experience of Korea to strengthen accessibility between Northern […]
Sri Lanka to improve essential utility services in Western Megapolis
Nov 30, 2016 (LBO) – Sri Lanka’s cabinet has granted approval to improve new utilities and infrastructure required for the Western region Megapolis. It is expected that there will be an increased demand for essential utility services such as transport, electricity, water, drainage and waste disposal with the implementation of the main plan of the […]
Western Province interconnected roads to be upgraded
Nov 23, 2016 (LBO) – Sri Lanka’s cabinet has approved a proposal to improve 26 damaged interconnected roads in the Western Province. The project will cover a total length of 30 km in Colombo, Moratuwa, Mahara and Avissawella areas by laying carpet at an estimated cost of 208.5 million rupees through the Provincial Road Development […]
Sri Lanka condominium developers welcome budget 2017
Nov 22, 2016 (LBO) – Sri Lanka’s Condominium Developers Association which represents the condominium developers in the country has hailed the budget presented by the Finance Minister. The association which is an affiliated trade body of the Ceylon Chamber of Commerce said in a statement that the budget contained a number of progressive proposals to […]
Chinese-made city near Singapore to reshape real estate
Nov 22, 2016 (LBO) – A 100 billion dollar Chinese-made city in Malaysia, near the border of Singapore, is set to reshape real estate in the region. Country Garden’s Forest City, on four artificial islands, will house 700,000 people on an area four times the size of New York’s Central Park, Bloomberg reported. Construction began […]
Sri Lankan real estate sector sees office demand spike: OBG
Nov 18, 2016 (LBO) – The office segment of Sri Lanka’s property market is likely to see rising levels of activity over the next few years, as developers scramble to bridge a shortage of premium space, the Oxford Business Group said. There is an expanding gap between available space and demand in Colombo, according to […]
Capitol Developers launch 50-Storey Skyscraper in Uptown Colombo
(PRESS RELEASE) – Capitol Developers Limited of the Sanken Group held the groundbreaking ceremony of its latest 470 apartment twin tower project – Capitol Twin Peaks on 12 November 2016, at its strategic location at 24, Staple Street, Colombo 02. Hon. Patali Champika Ranawaka – Minister of Megapolis and Western Development graced the event as […]
Sri Lanka property restrictions on foreigners relaxed: Budget
Nov 11, 2016 (LBO) – The Finance Minister in Budget 2017 announced measures to relax restrictions placed on property and land with regard to foreigners, and to allow companies to lease land. “The Government would remove freehold right restrictions from the ground floor and also allow foreigners who will be purchasing condominiums to raise 40 […]
Sri Lanka grants 25 year income tax waiver for Port City developer
Nov 02, 2016 (LBO) – Sri Lanka’s cabinet has approved granting of exemptions for the project company of the Colombo Port City in terms of the Strategic Development Project Act 2008. The CHEC Port City Colombo manages the project for the Chinese investor, China Communications Construction Company. The cabinet recognized the development of Port City […]
Sri Lanka’s tallest residential project to have fastest elevators
Oct 28, 2016 (LBO) – Sri Lanka’s tallest residential building, the Altair project, will have country’s fastest elevators, Aitken Spence said in a statement. Aitken Spence said that world’s largest manufacturer and maintainer of people-moving products Otis has been selected to provide high-speed elevators to the project in Colombo. Elevators Private Limited, a joint venture […]
Dusit Thani Sri Lanka promote real estate invetment in Australia
Colombo, 25 October 2016 – Dusit Thani Sri Lanka, Beachfront Balapitiya recently hosted ‘Australia Showcase 2016’ for Sri Lankan-Aus society crème de la crème, in Melbourne to meet the immense interest received from both expats and locals alike in Australia. The simple early-evening event, which received 80 attendees was hosted exclusively for The Beachfront apartments […]