Category: Real Estate & Construction
Rs2.5bn Mulberry residence for young professionals
Dec 04, 2015 (LBO) – Sri Lanka Steradian Capital, a privately owned real estate development and consultancy business, unveiled plans for an apartment complex with an investment of 2.5 billion rupees targeting middle-income young professionals. “The vision for the project comes from our desire to improve the affordable and professional housing sector in Sri Lanka, […]
Sri Lanka’s Megapolis Master plan unveiling in Jan 2016
Nov 30, 2015 (LBO) – Sri Lanka’s government will unveil the ‘Master Plan’ it has developed to build Sri Lanka’s proposed ‘Western Region Megapolis’ during early January 2016, Minister Champika Ranawaka says.“The government is planning to adopt a four pronged strategy to build the ‘Megapolis’ which will be built within three phases running between the […]
‘s Kishore Reddy
Nov 12, 2015 (LBO) – Sri Lanka’s real estate market’s full potential needs to be tapped through big investments funds which can pave the way for the island to join its regional counterparts, a property developer said. “The big real estate investment funds and investors have not come to Sri Lanka yet and some of […]
Infrastructure: Sri Lanka’s mass transit success lies with land use management, says Nayana Mawilmada
Nov 06, 2015 (LBO) – Sri Lanka’s plans for mass transit specially in Colombo must ensure that it stays linked to real-estate developments to make it viable, the director general of the Urban Development Authority said at the LBR LBO Infrastructure Summit. “Introduction of mass transit is a critical step and a game changer for […]
Infrastructure: Colombo needs innovation to be globally competitive, says IT Innovator
Nov 05, 2015 (LBO) – Sri Lanka needs innovation to engage Colombo with the rest of the world and to transform legacy assets through the digital medium, an IT innovator and self-labelled urban policy nerd said.J T Singh, founder of a design-centric problem solving team at J T Singh Labs, said a key factor in […]
Public investment in bus, railway a priority before monorail, says transport experts
Nov 05, 2015 (LBO) – From an economic standpoint, Sri Lanka should first develop its bus and railway transportation before spending public money on more expensive monorail, transport sector experts said at the LBR LBO Infrastructure Summit. A Japanese transportation master plan for Colombo, upgraded and approved by University of Moratuwa, envisaged three alternatives for […]
Infrastructure: No land shortage in Colombo, a transformation underway, says DG UDA
Nov 04, 2015 (LBO) – Sri Lanka’s commercial capital faces a core problem of under-utilization of land and there is no land shortage, the director general of the Urban Development Authority said at the LBR LBO Infrastructure Summit. Colombo has 65,000 slum and shanty houses occupying 900 acres of real estate in Colombo, he said. […]
Infrastructure: People should be consulted in future projects, says Min Ranawaka
Nov 02, 2015 (LBO) – Sri Lanka’s future infrastructure development projects should be done in consultation with the people, a Minister said.“We have identified some of the previous mistakes that were done with regard to infrastructure development during the previous regime,” Champika Ranawaka, Minister, Megapolis and Western Province development said. “The first one was that […]
Sri Lanka extends local and foreign expert services on Megapolis for five months
Oct 29, 2015 (LBO) – Sri Lanka has extended the local and foreign consultancy services on the Capital Colombo’s Megapolis project by five months, Cabinet Spokesperson and Mass Media Minister Gayantha Karunathilaka said.The government hired Surbana/ CESMA International, a part of Singapore’s state-run Housing Development Corporation, for a sum of 35 million rupees, to design […]
Do the proper checks before buying apartments: Property developer
Oct 28, 2015 (LBO) – Sri Lankan apartment buyers are warned that there are risks in buying apartments and they should do the proper checks and minimize it, a property developer said.“Apartment buyers need to be careful when buying as they are spending their lifetime savings,” Brahmanage Premalal, chairman of Prime Lands said. “Most apartments […]
Commercial real estate market has high potential for ROI: analysts
Oct 26, 2015 (LBO) – The demand for Sri Lanka’s commercial property is growing and there will be high potential for return on investment, experts said. “Sri Lanka’s commercial real estate has high potential for return on investment (ROI),” Ravi Abeysuriya, group director of Candor, a financial consultancy service said. “Retail rental yields for commercial […]
Sri Lanka to build a monorail, calls for proposals this month: BOI Chief
Oct 19, 2015 (LBO) – Sri Lanka’s investment promotion bureau said that the government plans to make a request for proposals this month to build a monorail or mass rapid transit system (MRT) that spreads out from Colombo Fort.“RFPs for the monorail project will be out within a week,” Upul Jayasuriya, chairman of the Board […]