Category: Real Estate & Construction

May 15, 2013 (LBO) – Sri Lanka has given India’s Krrish group till May 31 to complete their payments charging 12 percent interest for an extension, investment promotion minister Lakshman Abeywardena said.Out of 4,995 million rupees due for land leased for a mixed development project, the company had so far paid 4,049 million rupees or […]

Apr 24, 2013 (LBO) – Sri Lanka’s Access group will build a 12 million US dollar office tower next to an existing building in Colombo’s Union Place, the state investment promotion agency said. Sri Lanka’s Board of Investment which gives tax breaks to investments said the office complex built on a 74-perch block is expected […]

Apr 21, 2013 (LBO) – Sri Lanka’s ‘Havelock City’ a mixed development with multi-tower apartment complex with more than 100o untis and commercial space said it is forging ahead despite emerging risks from a state move to restrict foreign ownership of property. “..[T]he regulatory changes contemplated by the Government on foreign ownership of property could […]

Apr 05, 2013 (LBO) – Sri Lanka’s Colombo Land and Development Company Plc, will build a 600 million rupee expansion, through a wholly owned unit, the state investment promotion agency said.Colombo Land owns the Liberty Plaza shopping mall in the Kollupitiya upmarket area in Sri Lanka’s capital. Liberty Developers (Pvt) Ltd has signed an agreement […]

Feb 18, 2013 (LBO) – A twin tower property project made up of apartments, hotel and restaurant will be built in the central hill city of Kandy by a firm promoted by expatriate Sri Lankans from the area, the island’s investment promotion office said. Sri Lanka’s Board of Investment said the project by GVR Lanka […]

Feb 12, 2013 (LBO) – Sri Lanka’s Access Engineering Plc, which has interests in construction, real estate and automobiles said net profits in the December 2012 quarter rose 65 percent to 834 million rupees from a year earlier.The group posted earnings of 83 cents per share. In the nine months to December the group reported […]

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) – 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 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 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 […]