Category: Real Estate & Construction
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 […]
British independent schools show keen interest for international school at Port-City Colombo
Senior delegations from three leading British independent schools visited Colombo for discussions with the Colombo Port City Economic Commission and senior management of Port City Colombo earlier this month, pertaining to the development of an International School at the Port City Colombo. These schools are backed by a rich heritage going as far back as […]
British independent schools demonstrate keen interest for an international school at Port City Colombo
Senior delegations from three leading British independent schools visited Colombo for discussions with the Colombo Port City Economic Commission and senior management of Port City Colombo earlier this month, pertaining to the development of an International School at the Port City Colombo. These schools are backed by a rich heritage going as far back as […]
Courtyard By Marriott Debuts In Sri Lanka With The Opening Of Courtyard By Marriott Colombo
Courtyard by Marriott, part of Marriott Bonvoy’s extraordinary portfolio of 30 brands, today announced the opening of Courtyard By Marriott Colombo, making it the first Courtyard to open in Sri Lanka. Located at the heart of the city’s central business district adjacent to the Colombo City Centre Mall, Courtyard by Marriott Colombo is set to […]
Introducing new types of visas for Colombo Port City
The Cabinet of Ministers has approved a proposal presented by the Minister of Public Security to take necessary steps to introduce several visa categories for Colombo Port City based on the recommendations of the Colombo Port City Commission. Investor visa category for investors under the residence visa category Employee visa category for employees CPC Residential […]
Real-estate still a good long-term investment: Report
Research Intelligence Unit, a consultancy firm specializing in real-estate says the sector will continue to be a good long-term investment while the current socio-economic crisis has impacted the industry adversely. “What we have witnessed in 2022 is that real estate continues to offer a long-term refuge for many investors while the ‘buy-to-live’ market continues to […]
Land Valuation Indicator for Colombo District increased by 17-pct during 1H 2022
Land Valuation Indicator (LVI) for Colombo District increased to 186.9 with a year-on-year change of 17.0 percent during the first half of 2022. This annual increase (17.0) and the semi-annual increase (4.6 percent) of LVI, showed a deceleration of the increasing trend observed in the second half of 2021. All sub-indicators of LVI, namely Residential […]