Category: Real Estate & Construction
MTD Walkers says no partnership with Kolkata flyover builder
Apr 05, 2016 (LBO) – MTD Walkers PLC says says it is neither a JV partner nor the local partner of IVRCL of India, to clear up confusion in a recent media report, after Indian authorities began a probe into the flyover builder IVRCL. IVRCL Infrastructure Company in India is being investigated after a flyover […]
‘s capital
Apr 04, 2016 (LBO) – Sri Lanka’s Ekroma Realtors, a privately owned real estate developer, unveiled plans for an apartment complex targeting young professionals and families who need the convenience of city living in a central location. “We saw that there was scope for growth in the in luxury and modern living market and there were […]
Sri Lanka’s Watawala Plantations invests in new dairy farm
Mar 24, 2016 (LBO) – Sri Lanka’s Watawala Plantations, one of the largest tea plantation companies in the island has entered into a Joint Venture Agreement with PADC Holdings in Cayman to set up a new dairy farm. As per the agreement entered between the two parties today, the dairy farm will be set up […]
Sri Lanka gives official go ahead for China Port City; CHEC welcomes approval
Mar 15, 2016 (LBO) – Sri Lanka’s government officially informed the Chinese investors of resuming the construction of the Port City project in capital Colombo, yesterday one year after its suspension, a foreign news agency reported. According to China’s state media, Xinhua Sri Lanka’s Ministry of Ports and Shipping, in an official letter to the CHEC Port […]
Interview: Tourists need better infrastructure, says Astoria developer
Mar 12, 2016 (LBO) – Sri Lanka should take more steps to attract Chinese tourists as foreign investors increase investments in the island, a top Chinese property developer said. “We think Sri Lanka has a bright future. But Sri Lanka must improve infrastructure facilities to attract more people,” Zhong Yuan, the president of AVIC International Hotels […]
Sri Lanka Meagapolis Authority Act to parliament in two months
Mar 09, 2016 (LBO) – The legal act for Sri Lanka government’s hallmark Megapolis development is now drafted and will be presented in parliament soon, a senior official said. “We hope to bring the Megapolis Act to the legislature in the next two months,” Ranjith Fernando, chairman of the Urban Development Authority said. “This act […]
Sri Lanka extends Colombo Port City Project agreement by 6 months
Mar 10, 2016 (LBO) – The cabinet has approved the extension of the agreement on Colombo Port City development project agreement for a further period of six months from 15 March 2016. The Cabinet Committee on Economic Management has recommended allowing resumption of the project subject to limitations and conditions stipulated in the EIA report. […]
Sri Lanka bought planes instead of building houses: PM
Mar 10, 2016 (LBO) – Sri Lanka’s Prime Minister said on Thursday the nation is plagued with incompetencies of the former regime and the homeless could have been housed with the funds mishandled. “If they (the former government) did not buy those eight planes then we could have built houses for the people,” Premier Ranil […]
Sri Lanka to move prison out of Colombo, shift key buildings
Mar 09, 2016 (LBO) – Sri Lanka’s government is planning to shift key government offices including the Prison, President and Prime Minister’s residences from Colombo and free land for development purposes, chairman of the Urban Development Authority said. “We want to move the Welikada Prison, which has about 50 acres, and it will be shifted […]
‘s can open new doors for Sri Lanka’s real estate market
Feb 24, 2016 (LBO) – Sri Lanka’s property market will see new market space opening up with the introduction Real Estate Investment Trusts (REITs), a new capital market tool, an investment specialist said. “REIT’s will transform the capital market and give new shape to the real estate market,” Hardy Jamaldeen, director, Sterdian Capita Investment said. […]
Sri Lanka’s Carsons Cumberbatch December net up 66-pct
Feb 12, 2016 (LBO) – Sri Lanka’s Carsons Cumberbatch group profits rose 66 percent to 1.2 billion rupees in the December 2015 quarter from a year earlier, interim accounts showed. Carsons revenues were fell 9 percent to 20.6 billion rupees, while sales costs also fell 3 percent to 15.3 billion rupees, resulting in a gross […]
Sri Lanka’s Hayleys December net down 27-pct
Feb 11, 2016 (LBO) – Profits at Sri Lanka’s diversified Hayleys group fell 27 percent to 534 million rupees in the December 2015 quarter, interim accounts showed. The firm reported earnings of 7.12 rupees for the quarter 2015 compared to last year earnings of 9.81 rupees on profits of 736 million rupees. The group revenue […]