Category: Real Estate & Construction
Interview: New plans to be unveiled in Megapolis infrastructure
Oct 16, 2015 (LBO) – Sri Lanka’s new minister for the Megapolis, Champika Ranawaka, has big plans in mind for the region that spans the Western Province. A new transport plan will be unveiled in the next 2-3 weeks, while a Port City design has been included in the Megapolis infrastructure, he said. Commenting on […]
Sri Lanka’s Kingsbury to manage apartment complex
Oct 16, 2015 (LBO) – The Kingsbury plc , a five-star city hotel in Colombo, has signed a management agreement with Platinum real investment limited to manage its Platinum1 apartment complex for a 10 year time period, the hotelier said in a filing to the stock exchange on Thursday.Platinum 1 is a 20 storey apartment […]
Sri Lanka’s real estate a new segment of export economy: developer
Oct 12, 2015 (LBO) – Sri Lanka’s ongoing real estate developments can be used to attract investors to the island as a new segment of our export economy, a developer said. “The scale and quality of some of the on-going building projects in Colombo justify looking at property development as a new segment of our […]
LBR LBO infrastructure summit announced to media
Oct 08, 2015 (LBO) – There is an urgent need to move forward with intelligent urban design and development if Sri Lanka aspires to make Colombo a regional hub.This was the call of the organizers of LBR LBO’s infrastructure summit “Making Colombo a Globally Competitive City,” which will be held on November 3rd and 4th […]
Sri Lanka needs balanced approach to urbanization: Min. Ranawaka
Oct 06, 2015 (LBO) – Sri Lanka’s challenge is how to achieve a pace and pattern of urban development that is beneficial to people and how to make a balanced approach to urbanization, Minister Champika Ranawaka said. “Urbanization has both positive and negative impacts on society,” the Minister of Megapolis and Western Development said. “It […]
Q&” grade commercial property
Oct 06, 2015 (LBO) – Apartment complexes have had a strong hand in shaping the skyline of Colombo with the island’s real estate and construction industry sectors presently experiencing a boom. The key market drivers remain the luxury condominium market which has picked up within the last year. However, experts warn that buying by expatriate […]
Sri Lanka luxury property market under threat: OBG
Sep 28, 2015 (LBO) – Sri Lanka’s high end residential property market is at a possible risk as supply is set to overtake demand, a recent real-estate update by the Oxford Business Group said. The supply of luxury apartments in the commercial capital could reach 6000 units by 2018-19, according to a recent report by […]
Section of Colombo Outer Circular Expressway to open Sept 17: JICA
Sept 15, 2015 (LBO) – Sri Lanka’s Kaduwela to Kadawatha section of the Colombo outer circular expressway (E02) will be declared open on September 17, Japan’s development agency JICA said. Lakshman Kiriella, the minister for highways, Kenichi Suganuma, ambassador of Japan to Sri Lanka, and Hiroyuki Abe, senior representative of JICA, will attend the event. […]
Sri Lanka’s capital skyline changes with rise in luxury apartment market: report
Sep 06, 2015 (LBO) – The skyline of Sri Lanka’s capital is growing in terms of the number of luxury apartment units with the market expected to reach 6,000 units by 2018-19, from 2,657 units at the moment, a research report shows. “Apartment complexes have had a strong hand in shaping the skyline of Colombo.Starting […]
Sri Lanka’s Urban Development Authority profits fell 85-pct in March quarter
Aug 05, 2015 (LBO) – Sri Lanka’s Urban Development Authority group profits fell 85 percent to 199 million rupees in the March 2015 quarter from a year earlier, with revenues down 80 percent to 709 million rupees, the interim accounts showed. Finance cost fell 98 percent to 4 million rupees compared to the 329 million […]
Swisstek profit +25% in 3 months to June
July 27, 2015 (LBO) – Sri Lankan based Swisstek (Ceylon)’s group net profit showed a 25 percent increase to 28.9 million rupees for the three months ended June 2015, interim report said.The manufacturer of tile grout, tile mortar and decorative pebbles said revenue rose 44 percent to 509 million rupees from 354 million rupees in […]
Sri Lanka’s online property portal ‘Lamudi’ launches its first real estate magazine
July 15, 2015 (LBO) – Sri Lanka’s online property portal ‘Lamudi’ has launched the first issue of its real estate magazine ‘Property Now’, the company said.The quarterly magazine consists of the latest real estate market report, trends in the real estate industry, home tips, current developments, changes in the digital market and other pertinent topics.Though […]