Jan 30, 2017 (LBO) – Nawala, between Sri Lanka’s commercial capital Colombo and administrative capital Kotte, is seen as the next high-end residential apartment hub, as new infrastructure in and around the area will address issues related to traffic congestion, a research institute said.
“Many new real estate developers have realised the potential of the area,” the Research Intelligence Unit (RIU), a firm specialising in real-estate, said in their quarterly report.
“Given Nawala’s proximity to the capital more and more retail and commercial development will enter the area, while the green and residential environment will ensure continued popularity among the upper-mid and upper end of the socio-economic groups.”
Nawala is in close proximity to the Central Business District (CBD) of the commercial capital of Sri Lanka.
The distance and time saved on the road will have a positive impact on the lives of professionals instead of travelling from other suburbs of Colombo, the report added.
“Nawala is set to enjoy sound growth over the next decade as new infrastructure in and around the area will address issues related to traffic congestion.”
The full report follows:Nawala RIU Market update