Category: Real Estate & Construction
Sri Lanka’s Access Engineering to enter property development sector
June 30, 2015 (LBO) – Sri Lanka’s leading construction company, Access Engineering is to enter into the highly growing property development sector with 524 million rupees of investment, the company said.The company has invested 273.6 million rupees to acquire Horizon Holdings Ventures private limited incorporated in this month.It has also invested 250.0 million rupees to […]
Sri Lanka signs articles of agreement for Asian Infrastructure Investment Bank
June 29, 2015 (LBO) – Sri Lanka on Monday signed the articles of agreement for the China led Asian Infrastructure Investment Bank which is expected to be operational by the year end. Representatives from 57 prospective founding members of the Asian Infrastructure Investment Bank including Sri Lanka gathered on 29 June 2015 in Beijing at […]
Sri Lanka PM ordered UDA to stop land acquisition in the Colombo District
June 11, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe instructed Urban Development Authority to immediately stop land acquisition activities in the guise of development in the Colombo District and to stop forceful evictions and acquisitions. A statement released by the Prime Minister’s Office said that the Chairman was further instructed to device a […]
Sri Lanka manufacturer puts up Rs80mn roofing products factory supported by USAID
May 28, 2015 (LBO) – Sri Lanka’s roofing products manufacturer, Building Solutions on Wednesday commenced operations at a new eco-friendly roofing products factory jointly funded by USAID. The factory built at a cost of 80 million rupees is located in Ampara and produces corrugated steel roofing and silos, generating hundreds of local jobs. Apart from […]
Cabinet approves consultancy contract for Southern Road Connectivity Project
May 22, 2015 (LBO) – Sri Lanka’s cabinet has approved a contract to supply consultancy services for the Southern Road Connectivity Project as recommended by the cabinet appointed consultants procurement committee, the government said.33 kilometers of national highways that provide access to the southern expressway will be developed under this loan assistance.The Asian Development Bank […]
Sri Lanka’s online property portal Lamudi releases updated Android app
May 13, 2015 (LBO) – Sri Lanka’s real estate marketplace Lamudi has recently released an updated version of its Android app to make it easier for house-hunters to. Version 2.0 of the app, Lamudi: Property for Sale & Rent, offers overall better speed and performance, making it easier to browse through Lamudi’s global catalogue of […]
‘s authorities should be cautious when issuing building permits: Harsha de Silva
May 13, 2015 (LBO) – Sri Lanka’s Municipal councils and local authorities should be more cautious when issuing building permits to people in areas where there are high tension power cables, a Deputy Minister said.“People must get the correct approvals for the construction of their houses from the relevant Municipal council or authority,”Harsha De Silva, […]
Sri Lanka micro apartments to attract property hunters through prices
Apr 28, 2015 (LBO) – Sri Lanka’s micro living arrangements have made increasingly popular among residential property hunters for their affordable prices and attractive features, an online property portal said.According to internal data from local property portal Lamudi, such modest residences particularly those that are offered for rent are some of the most affordable and […]
India’s TATA housing rejects allegations and reiterates commitment to the Slave Island Project: statement
Mar 13, 2015 (LBO) – India’s Tata Housing has rejected allegations raised against it by the Sri Lankan Government over a housing project at Slave Island in a statement. They said that these kind of allegations will adversely impact confidence of other overseas companies to make future investments in Sri Lanka. “We are expressing deep […]
‘s real estate sector shows no sign of a bubble: industry professional
Mar 12, 2015 (LBO) – Sri Lanka’s real estate sector is not in danger of reaching a property bubble as it is still growing at a faster pace than the economy and is showing signs of continuing to do so, a real estate professional says. Since 2005 the island real estate market has grown from […]
’s real estate sector shows no sign of a bubble: industry professional
Mar 12, 2015 (LBO) – Sri Lanka’s real estate sector is not in danger of reaching a property bubble as it is still growing at a faster pace than the economy and is showing signs of continuing to do so, a real estate professional says.Since 2005 the island real estate market has grown from 7.6 […]
Sri Lanka to return lands occupied by Military troops
Feb 12, 2015 (LBO) – Sri Lanka new administration is to return lands and buildings which occupied by the military troops in the time of Tamil tiger war for security reasons, a spokesman said today. The minister said the remaining 780 acres of land will also be used to resettle the people displaced by the […]