Category: Real Estate & Construction
Sri Lanka apartment selling prices show consistent increase in last four months: RIUNIT
Sri Lanka’s real estate expert Research Intelligence Unit says that since the beginning of 2023, the apartment selling price LKR per SqFt has remained steady and in the four months ending June 2023, the suburban apartment selling prices US$ per SqFt have shown a consistent increase. During the eight years ending 2023, RIUNIT says the […]
Real Estate Agents are Advised to Ramp up Anti-Money Laundering Measures
The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka organized an awareness program for the real estate sector on “Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compliance Obligations and New Developments” on June 26, 2023. Full Statement
RIUNIT launches second Bangladesh country report 2023
Research Intelligence Unit (RIUNIT) released its second Bangladesh Country Report 2023 containing key trends and developments in the economy and major sectors such as the residential, commercial and retail real-estate markets as well as the hotel and bare land markets pertaining to the capital of Dhaka. The new report also outlines the behaviour of macroeconomic indicators […]
Sapphire Residences on course to complete and launch Colombo’s most exclusive residences
The USD 500 million + ITC development, comprising the Sapphire Residences and super luxury hotel ITC Ratnadipa, occupies pride of place at the centre of Colombo’s most prestigious ocean front location. Overlooking the Galle Face and the Indian Ocean on one side and the Beira Lake on the other, this landmark is already redefining the […]
Port City Colombo undertakes coral reef conservation amid environmental challenges
Port City Colombo, which extends from the Central Business District of Colombo, showcases a profound commitment to environmental preservation through the development of extensive coastal and marine habitats. A significant testament to this is a flourishing coral reef along the city’s 3.7km-long artificial breakwater. This thriving reef forms part of a wider reef conservation initiative […]
TRI-ZEN: Revolutionizing smart living in SL, 75-pct of inventory sold
Engineered for the future, TRI-ZEN apartments, located in the heart of Colombo in Union Place, Colombo 2, announced the successful sale of 75% of its inventory to date, as the much-anticipated project nears completion by the end of 2023. This remarkable achievement underscores the tremendous appeal and demand for TRI-ZEN, which is a joint venture […]
Port City celebrates milestone as development nears completion & commercialization to begin
Port City Colombo (PCC), the ground-breaking infrastructure project aimed at reshaping Sri Lanka’s economic landscape, celebrated a momentous milestone as its infrastructure development phase nears completion and commercialization is set to begin. The occasion was marked by a moment of unity with a multi-religious ceremony, invoking blessings on the nation and the project’s success. The […]
Eighth Power, Energy & Construction Expo in July 2023
The Power, Energy & Construction Expo is set to take place from 7th – 9th of July 2023 at BMICH Exhibition Centre, Colombo. The expo will showcase the latest developments and innovations in the power, energy, and construction industries. This event is organized by Lanka Exhibition & Conference Services (Pvt) Ltd (LECS), a presidential award-winning […]
Opportune time for foreigners to invest in an apartment: RIUNIT
The Research Intelligence Units suburban apartment price index for February reveals that the apartment prices are continuing to decline in USD terms making it an opportune time for foreign investors. However, this is not the case when the prices are calculated in LKR terms, RIUNIT says.According to the latest RIUNIT data, suburban average apartment price […]
Largest capacity crane in Sri Lanka unloaded at HIP
Last week, the largest capacity crawler crane in Sri Lanka was unloaded at Hambantota International Port. The crane, with a 750-ton lifting capacity, will be initially used for Hiruras Wind Power Project in Mannar. The German built Liebherr brand crane was being used in Japan and has now been imported to Sri Lanka for civil […]
SL Properties Gain Increased Interest among Overseas Buyers: Report
Overseas buyer interest in Sri Lankan properties increased by 40% in 2022, compared with the year before, according to the Real Estate Market Outlook Report 2023, published by Sri Lanka’s leading real estate portal, LankaPropertyWeb. The report said that traffic from overseas countries such as the United Kingdom, Australia, the United States, Canada, and Middle-Eastern […]
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Fitch Ratings has revised the Outlook on Sri Lankan home builder Home Lands Skyline (Pvt) Ltd.’s (HLSL) National Long-Term Rating to Negative, from Stable. The agency has simultaneously affirmed the rating at ‘A(lka)’. The Negative Outlook reflects the deteriorating operating conditions for home builders, such as HLSL, which may lead to weakened home sales, slower […]