Category: Real Estate & Construction
Cabinet approves consultancy contract for Southern Road Connectivity Project
May 22, 2015 (LBO) – Sri Lanka’s cabinet has approved a contract to supply consultancy services for the Southern Road Connectivity Project as recommended by the cabinet appointed consultants procurement committee, the government said.33 kilometers of national highways that provide access to the southern expressway will be developed under this loan assistance.The Asian Development Bank […]
Sri Lanka’s online property portal Lamudi releases updated Android app
May 13, 2015 (LBO) – Sri Lanka’s real estate marketplace Lamudi has recently released an updated version of its Android app to make it easier for house-hunters to. Version 2.0 of the app, Lamudi: Property for Sale & Rent, offers overall better speed and performance, making it easier to browse through Lamudi’s global catalogue of […]
‘s authorities should be cautious when issuing building permits: Harsha de Silva
May 13, 2015 (LBO) – Sri Lanka’s Municipal councils and local authorities should be more cautious when issuing building permits to people in areas where there are high tension power cables, a Deputy Minister said.“People must get the correct approvals for the construction of their houses from the relevant Municipal council or authority,”Harsha De Silva, […]
Sri Lanka micro apartments to attract property hunters through prices
Apr 28, 2015 (LBO) – Sri Lanka’s micro living arrangements have made increasingly popular among residential property hunters for their affordable prices and attractive features, an online property portal said.According to internal data from local property portal Lamudi, such modest residences particularly those that are offered for rent are some of the most affordable and […]
India’s TATA housing rejects allegations and reiterates commitment to the Slave Island Project: statement
Mar 13, 2015 (LBO) – India’s Tata Housing has rejected allegations raised against it by the Sri Lankan Government over a housing project at Slave Island in a statement. They said that these kind of allegations will adversely impact confidence of other overseas companies to make future investments in Sri Lanka. “We are expressing deep […]
‘s real estate sector shows no sign of a bubble: industry professional
Mar 12, 2015 (LBO) – Sri Lanka’s real estate sector is not in danger of reaching a property bubble as it is still growing at a faster pace than the economy and is showing signs of continuing to do so, a real estate professional says. Since 2005 the island real estate market has grown from […]
’s real estate sector shows no sign of a bubble: industry professional
Mar 12, 2015 (LBO) – Sri Lanka’s real estate sector is not in danger of reaching a property bubble as it is still growing at a faster pace than the economy and is showing signs of continuing to do so, a real estate professional says.Since 2005 the island real estate market has grown from 7.6 […]
Sri Lanka to return lands occupied by Military troops
Feb 12, 2015 (LBO) – Sri Lanka new administration is to return lands and buildings which occupied by the military troops in the time of Tamil tiger war for security reasons, a spokesman said today. The minister said the remaining 780 acres of land will also be used to resettle the people displaced by the […]
’s real estate boom and property market outlook
Feb 09, 2015 (LBO) – Sri Lanka’s online property hunters seek houses than apartments despite the luxury apartment segment having a short term demand, country head of a leading real estate portal said. Globally founded on 2013, the property portal currently available in 32 countries across Asia, Africa, the Middle East and Latin America with […]
Sri Lanka Port Authority calls for private investments to build port city
(07, Aug, 2014 LBR) – – Sri Lanka’s port city to be built on reclaimed sea will be financed with private capital and investors would be free to come up with proposals on how to use the land, an official said.The port city will have shopping areas, water sports area, mini golf course, hotels, apartments, […]
Sri Lanka gives sweeping tax breaks for project on acquired land
July 28, 2014 (LBO) – Sri Lanka has proposed sweeping tax breaks for a controversial project where lands of private citizens were taken over for a commercial development.The 429.5 million US dollar project in Colombo’s Slave Island area including 130 million US dollars of foreign investments will get a 10 year corporate income tax holiday […]
‘s Rocket Internet
May 20, 2014 (LBO) – Lamudi, an online property and real estate portal started by German based Rocket Internet which focuses on emerging markets has launched a Sri Lanka specific site. “Now is the perfect time to be entering the Sri Lankan market,” Wilhelm Hammes, Managing Director of Lamudi Sri Lanka (www.lamudi.lk) said in a […]