• Tue. Jun 21st, 2022

Sri Lanka – Singapore Business Council promotes real estate investments in Sri Lanka


Sri Lanka – Singapore Business Council of the Ceylon Chamber of Commerce, in association with KPMG Sri Lanka as a knowledge partner, recently successfully concluded a webinar on “Real Estate Investment Opportunities in Sri Lanka” with over 200 participants from Sri Lanka and neighboring countries including Singapore.

The webinar included two key presentations on “Prospects and Why Invest in the Real Estate Sector in Sri Lanka” by Gihani Hewavitarana, Senior Director, Real Estate Advisory, KPMG Sri Lanka and a presentation on “Port City Colombo Project Overview” by Yamuna Jayaratne, Director of Sales and Marketing, CHEC Port City Colombo (Pvt) Ltd. The session ended with a panel discussion with Roshanie Jayasundara Moraes Executive Vice President / CMO, John Keells Holdings, Hardy Jamaldeen, Executive Director, Lanka Realty Investment PLC, Prasanjith Wijayatilake, Executive Director of Investment Promotion, Board of Investment Sri Lanka and was moderated by Nipuni Samarasekara, Partner, SW Legal Associates.

The two resource persons highlighted the opportunities in the real estate sector which has generated high returns for investors and recognition as an investment destination in the Asian region, with Port City

Colombo being the focal point of the current real estate landscape. The Port City Colombo Project, the next game changer in the industry, featuring world-class, ultra-luxury residential, entertainment and lifestyle shopping malls being developed next to Colombo’s CBD, targeting the wealthy from the Asian region was heavily promoted during the webinar.

It was pointed out that the port city project is expected to add a total of 179 ha. of marketable land and a total area of ​​6.3 million square feet and will create a positive impact on economic growth with increasing FDI and attract spending tourists to the country and create more than 83,000 job opportunities. The enabling business environment and double taxation avoidance agreements with 38 countries, bilateral investment agreements with 28 countries, secure foreign investment policies, transparent legal and regulatory framework, COVID-loan programs 19 to support industries, the authorization of freehold co-ownership for nationals foreigners, were also highlighted as key aspects to induce investors to view Sri Lanka as a potential country for real estate investment.

Bilateral Trade Councils, an integral part of the Ceylon Chamber of Commerce, play an essential role in promoting international trade. The main activity of the Councils is the expansion of business between Sri Lanka and the partner country. The Ceylon Chamber operates 19 bilateral trade councils whose main objectives are to promote trade and investment, joint ventures, services, including promotion of tourism between Sri Lanka and the respective countries. The Sri Lanka – Singapore Business Council was established in August 1997 to promote trade, tourism investment and services between Sri Lanka and Singapore, vice versa.

Sri Lanka – Singapore Business Council of the Ceylon Chamber of Commerce continues to act as a vital link between Sri Lanka and partner countries, to develop new initiatives and areas of activity in terms of trade, tourism and investment. Members of the Business Council include a wide range of companies active in infrastructure, logistics and services, financial services, tourism and recreation, import and export trade, manufacturing, ICT and telecommunications.

Further details regarding webinar highlights and Council participation could be provided through the Sri Lanka Secretariat – Singapore Business Council of the Ceylon Chamber of Commerce via email. [email protected]


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