Category: Real Estate & Construction

Feb 10, 2013 (LBO) – Sri Lanka will set up three state companies to bid for construction projects under the road development agency, targeting contracts of less than 100 million rupees.Analysts say the new firms may be able to get contracts that are now going to medium sector businesses. The cabinet of minister had approved […]

Dec 31, 2012 (LBO) – Sri Lanka’s International Construction Consortium (Pvt) Ltd, is promoting a 3. 6 billion rupee property development in Malabe in the outskirts of the capital Colombo, the state investment promotion agency said. The project will be financed with equity, debt financing facilities from banks and pre-sales. ICC will build 100 two-storied […]

Dec 18, 2012 (LBO) – Sri Lanka’s listed Colombo Land and Development Company Plc has wrapped up a deal to buy an adjacent property, which it had earlier said cost 221 million rupees, and a hotel project has been delayed. The firm owns Sri Lanka’s Liberty Plaza shopping mall in the up market Kollupitiya suburb […]

Dec 18, 2012 (LBO) – A legislator from Sri Lanka’s main opposition United National Party had queried whether India’s Krrish group had made a payment for the purchase of leased state land on an announced date. A number of Sri Lankan and foreign firms which had been given state land were expropriated last year for […]

Dec 07, 2012 (LBO) – Sri Lanka CT Holdings said Singapore’s Keppel group had completed the purchase of a 60 percent stake in a property unit which will build a seven billion rupee luxury apartment complex. . Keppel C T Developments (Private) Limited will build a 260-unit apartments in a 1.25 acre site at George […]

Oct 19, 2012 (LBO) – Sri Lanka’s Urban Development Agency will give land on a 99-year lease to India’s Tata Housing Development Company Ltd as part of efforts to re-develop the island’s capital, minister Keheliya Rambukwelle said. The cabinet of ministers had approved the proposal to give around eight acres of land in Colombo’s Slave […]

Oct 11, 2012 (LBO) – Imperial Builders (Pvt) Ltd, a unit of Pakistan based Lakhani group is investing in a 60 million US dollar project to develop land in Sri Lanka’s capital Colombo, the island’s investment promotion agency said. Imperial Builders and Sri Lanka’s Urban Development Authority will build alternative accommodation for shanty dwellers in […]

Oct 08, 2012 (LBO) – A 450 million US dollar hotel and residential development in Sri Lanka’s capital Colombo by India’s Krrish group is getting sweeping tax benefits running up to 25 years. Krrish group is building a tower block in Colombo’s colonial quarter by the side of an historic British administration building ‘Transworks House’ […]

Oct 04, 2012 (LBO) – India’s ITC Limited will build a 140 million US dollar mixed development including a hotel, shopping mall and apartments in Sri Lanka’s capital Colombo, minister Keheliya Rambukwelle said. ITC has been given state land in Colombo’s ‘Galle Face’ beachfront. Though earlier reports said ITC may operate a ‘Sheraton’ branded hotel […]