Category: Real Estate & Construction
Global tech company, HCL, to take up 80-pct of ‘The Offices’ at Cinnamon Life
Colombo’s newest state-of-the-art office tower, ‘The Offices’ at Cinnamon Life has been chosen as the hub for leading global technology company, HCL Technologies’ growth drive in Sri Lanka. Cinnamon Life is the first A-grade office tower in Colombo to attract a leading multinational company to occupy a majority of available office spaces within its premises. […]
Top real estate developers identified in new brand health survey 2021
This year’s Research Intelligence Unit (RIU) survey delved deeper than brand surveys of the past by looking into multifarious factors that included brand awareness, brand perception, brand visibility, brand attributes and top of the mind recall. Home Lands, Prime Lands, Kelsey Homes, JAT, Blue Ocean, Span and Fairway were found to be the top seven […]
MAGA to design and construct two flyovers in Col 02 valued at Rs. 5.2Bn
Maga Engineering has begun construction of two new flyovers in Slave Island (Colombo 02), along Justice Akbar Mawatha and Uttarananda Mawatha. The proposed flyovers will overarch two central intersections in Slave Island and the Coastal Line – one of the busiest railway tracks leading into the city, thereby easing heavy traffic congestion leading to Colombo’s […]
JAT Holdings IPO oversubscribed
The IPO of JAT Holdings was an oversubscription of 82,904,846 ordinary shares. Priced at a value of Rs. 27 per share, the IPO raised Rs.2.2 billion in funds for the company’s near term objectives of investment in enhancing the existing R&D facility to a fully-fledged, state-of-the-art facility for all coatings, setting up a manufacturing facility […]
Sri Lanka Investment Forum 2021 kicks off
Sri Lanka Investment Forum 2021 was inaugurated this morning by His Excellency the President Gotabaya Rajapakse on a virtual platform. Today’s proceedings also featured keynote addresses by Ali Sabry Minister of Justice, Ajith Nivard Cabraal, State Minister for Money and Capital Markets and State Enterprise Reform, Dr.P.B. Jayasundera, Secretary to the President, Sanjaya Mohottala Chairman […]
Govt and ADB sign USD200Mn loan agreement for rural road development
The Asian Development Bank (ADB) and the Government of Sri Lanka recently signed a $200 million loan agreement for the Second Integrated Road Investment Program Tranche 3 to continue ADB’s assistance to upgrade Sri Lanka’s rural road network connecting vast rural populations to jobs and services. “Economic growth is hindered by poor transport infrastructure, particularly […]
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 […]