Category: Real Estate & Construction
Sri Lankans forecasts positive growth of local real estate market in 2016
Jan 26, 2016 (LBO) – A new survey has revealed that 41 percent of Sri Lankans believe that demand for houses will increase in the next 12 months. According to a newly-released report from Lamudi Sri Lanka, over 50 percent of respondents expect demand for both affordable and luxury apartments to grow this year. The […]
CHEC Port City refutes allegations by Sri Lanka state minister
Jan 22, 2016 (LBO) – CHEC Port City Colombo in a letter to Sujeewa Senasinghe, state minister of international trade, has refuted a public statement by him of corruption in the Colombo Port City deal. “The said statement attributed to you, which induces the reader to arrive at the irresistible conclusion that the project has […]
China eyes more investment opportunities in Sri Lanka: PM (VIDEO)
Jan 21, 2016 (LBO) – Prime Minister Ranil Wickremesinghe said in Switzerland that Sri Lanka is expecting more investments from the China apart from the ongoing infrastructure projects. “Infrastructure alone is not sufficient and we are discussing bringing more Chinese investments,” Wickremesinghe said at a press conference held during the World Economic Forum in progress in […]
‘s Kunyoung launches in Sri Lanka, eyes construction
Jan 20, 2016 (LBO) – Kunyoung Engineering and Construction Co launched in Sri Lanka on Tuesday increasing the number of Korean companies taking an interest in the island’s growth prospects. Company officials said they were interested in Megapolis development plans which included the Colombo Port City, and would bid for future contracts. “The entry of […]
‘s Krrish Group’s controversial Colombo project to recommence: BOI
Jan 19, 2016 (LBO) – Sri Lanka’s government is planning to sign a new agreement with India’s Krrish Group to restart its long delayed and controversial project in Colombo, a senior official said. “We are negotiating with Krrish and hope to finalize a new agreement very soon,” Duminda Ariyasinghe, Director General of Sri Lanka’s Board […]
Sri Lanka real estate brokers, agent certification should be formalized: RIU
Jan 06, 2016 (LBO) – Sri Lanka’s real estate brokers and agents need to professionalize their services and initiatives to bring about change in the sector, a recent report says. “Sri Lanka does not have a formal system of registration of certification for real estate brokers and agents,” Research Intelligence Unit, a firm which specialize […]
Megapolis plan presented to President, USD 30bn worth investments in pipeline
Dec 31, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena was presented with the new government’s Megapolis Plan formulated to develop the island’s Western Province by Minister Champika Ranawaka on Wednesday.Minister of Megapolis and Western Development, Champika Ranawaka said Sri Lanka will be able to get about 30 billion dollars worth investments within next 10 […]
Sri Lanka’s ‘Megapolis’ plan will help boost land prices in outskirts: Report
Dec 22, 2015 (LBO) – Sri Lanka’s Western Province ‘Megapolis’ plan will boost land prices in the suburbs and beyond in the long term, a research report said. “With the change in political power in 2015, we can now note that there is a further discussion about planning beyond Colombo to cover a Western Province […]
‘t cause environmental disruption, says EIA
Dec 15, 2015 (LBO) – The proposed Colombo Port City has a minimal environmental impact on the reclamation site and the coastal zone around the area, a supplementary environmental impact assessment, now available for public consultation, states. Because of the impact of sand dredging north of the port city site, an income support program will […]
Sri Lanka’s stalled Colombo port city back on track
Dec 11, 2015 (LBO) – Sri Lanka’s is all set for the Chinese-built port city project to commence work soon, a media report said.“We have given all the necessary clearances.Now it is up to the investors to sort out the minor details,” Ravi Karunanayake, Sri Lanka’s finance minister told the South China Post newspaper. “On […]
Govt. to call bids from local contractors for Central Expressway stage III
Dec 10, 2015 (LBO) – The cabinet has decided to select local contractors and supervision consultants for the Central Expressway Project stage III which is to be built from Pothuhera to Galagedara.As per Wednesday’s cabinet decision, contractors will be selected through competitive bidding under 05 packages, each of a length between 4.5km – 7.5km. The […]
Sri Lanka’s CSE to see infrastructure bonds and REITs soon
Dec 04, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) chief said that new products in the form of infrastructure bonds and REIT’s will be introduced to broaden and add depth to the islands debt markets.“New products need be brought in, Sri Lanka’s debt market needs to be broadened and depth needs to be […]