Category: Real Estate & Construction
Port City Colombo opens gates for investment
Port City Colombo, Sri Lanka’s brand-new reclaimed land, slated as the “Gateway to South Asia”, now officially becomes the country’s first service oriented Special Economic Zone (SEZ). The Sri Lankan Parliament, today (20th), adopted a powerful Bill enabling a giant step in Port City Colombo becoming a pivotal global financial and services hub for South […]
Parliament adopts Port City Bill; Project Company invites investors to explore opportunities
CHEC Port City Colombo, the Project Company, invites local and foreign investors to explore the unique investment opportunities now available at Port City Colombo. Port City Colombo, now officially becomes the country’s first service-oriented Special Economic Zone (SEZ). The Sri Lankan Parliament, today adopted the Port City Economic Commission Bill with amendments. Full Statement Port […]
Capitol TwinPeaks unveils ‘Capitol-ize investment Scheme’ for buyers
Capitol Developers – the Developer of Capitol TwinPeaks, the 50-storey twin-tower, mixed development under the Sanken Group, recently announced the provision of the ‘Capitol-ize’ Investment Scheme for potential property owners/ buyers, as a means by which to ease financial pressures (a resultant of Sri Lanka’s recovering economy) allowing more entrants into the real estate and […]
Prime Residencies IPO oversubscribed on opening day
Following the debut of Prime Lands Residencies’ Initial Public Offering (IPO) yesterday (11), the company’s oversubscription forecasts proved to be true as the initial 100 million shares were purchased in record time. The Board of Directors have decided to exercise the option to issue up to a maximum of a further 87.5 million shares as […]
China backed Port City missing link for SL to become game changer; no threat to sovereignty
The Colombo Port City, one of Sri Lanka’s most significant projects with tremendous potential has to go forward in the right direction as a game-changer for the island and the proposed draft legislation is the missing link, a senior official said. Multiple petitions were filed in the Supreme Court last week by Opposition parties, civil […]
ComBank raises interest rate on ‘FC Plus’ foreign currency accounts to 4.5-pct per annum
The Commercial Bank of Ceylon has announced a significant increase in the interest rate offered to Sri Lankan Personal Foreign Currency (PFC) account holders, via the Bank’s ‘FC Plus’ account. Individuals who open an FC Plus foreign currency account at Commercial Bank will be eligible to receive an interest rate of 4.5% per annum for […]
Prime Lands Residencies Limited debuts IPO
Prime Lands Residencies Limited the condominium property arm of the of real estate artistry in Sri Lanka, Prime Group, recently debuted its Initial Public Offering (IPO) Proposition. Through the past 25 years of the Prime Group journey, this feat is certainly a remarkable milestone for both the company and the real estate industry of Sri […]
Citizen or Not: Process and concerns of buying property in Sri Lanka as an expat
By Lanka Property Web With the recent changes in the law welcoming expat Sri Lankans to purchase property in the country, LankaPropertyWeb interviewed Attorney at Law Saminda Jayasekara regarding the feasibility of this option and the barriers to overcome in the process. As a local, there are no restrictions on purchasing property in the country. […]
Prime Lands Residencies announces virtual investor forum for upcoming IPO
Prime Lands Residencies, the condominium property arm of Prime Group, announces the first ever Virtual Investor Forum for its upcoming Initial Public Offering (IPO). Extending its invitation to investors and market participants, the Prime Lands Residences Virtual Investor Forum will be held via Zoom on the 28 th of April 2021, 4.00pm onwards. The Initial […]
Opinion: Port City, Better economic governance, not giveaways should be focus of new governance zone
Deng Xiaoping China’s great reform leader, faced a serious problem in the 1970s. Thousands of young Chinese were crossing to Hong Kong risking their lives. Rather than cracking down on the migrants, Deng sought to understand why they were migrating. Clearly the economic opportunities in Hong Kong were greater than in mainland China. Deng was […]
Colombo Port City – Projecting SL as newest commercial landscape in Asia
Veemansa Initiative, an independent think tank recently held a Webinar on the proposed Colombo Port City Economic Commission Bill and related subjects. Based on the deliberations at the webinar and the follow-up analysis, it was evident that the Colombo Port City Project, a 100% foreign investment venture plans to attract a diverse group of secondary […]
Prime Lands Residencies expected to make IPO bid soon
Prime Lands Residencies (Pvt) Ltd, the condominium property arm of Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. Issuing a statement to mark this occasion the firm says it will be making it’s Initial Public Offering (IPO) in the near future. This development, the company says will certainly […]