The company has land in prime areas. So we are planning to utilize that for better purposes and build high rise buildings, United Motors Chairman Ranjith Fernando told LBO.
We are looking at several projects but nothing is firmed up as yet.
The group is concerned about the timing of these projects considering the present market status.
Sri Lanka has had a sudden surge of high rise condominiums with the high price range limiting them to upper class customers.
Timing is an issue now. The market segment is extremely limited. We don™t think it™s the right time. So we want to wait and see, Fernando said.
The company will however move ahead with a smaller p