Home Lands signs SPA with CHEC Port City to develop twin tower high-rise
The Morning: Marking a historic milestone in the progressive development of Port City Colombo which is widely regarded as the turning point of Sri Lanka’s economy, Home Lands Group’s Home Lands Port City (Pvt) Limited signed the Sales and Purchase Agreement (SPA) with CHEC Port City Colombo (Pvt) Limited to develop the most iconic twin tower high-rise project in the Central
Park district of Port City, that will merge with and overlook 40 acres of lush Central Parkland.
The project investment of US$ 150 million, by Home Lands, marks the largest real estate investment by a single Sri Lankan developer. With the total project value estimated at over US$ 300 million, this iconic twin tower high-rise project is expected to attract large foreign currency inflows into Sri Lanka.
It was stated earlier by Cabinet Spokesperson and Minister Dr Nalinda Jayatissa that Home Lands Port City Ltd would construct an eco-friendly luxury twin residential tower, announcing the decision under “approved projects”, at the weekly post-cabinet meeting media briefing last week.
This twin tower high-rise project will offer over 600 ultra luxury units consisting of unparalleled residential, commercial and recreational spaces in an elite setting with world class amenities.
The ultra luxury residential spaces will consist of 1BR, 2BR & 3BR apartments, premium villas and penthouses. Port City Colombo being a well-planned city and the Central Park district’s high-rise design enables this twin tower high-rise project by Home Lands to offer uninterrupted Indian Ocean views, sunset views and scenic waterway views.
Home Lands, Sri Lanka’s number one, most trusted and most innovative developer, has been shaping the nation’s real estate landscape with a legacy built on trust, innovation, and excellence.
Home Lands is the pioneer of resort-style residential developments in Sri Lanka and continues to redefine modern living, setting new benchmarks in quality, design, and lifestyle.
As a fully integrated group of 14 companies, including its own construction arm, Heyraa Construction, holding the highest CS2 grading from CIDA, Home Lands delivers end-to-end solutions across real estate, construction, property management, and lifestyle creation, ensuring uncompromised quality, innovation, and customer satisfaction.
With a growing global presence and offices in Australia, Dubai, and London, Home Lands serves both local and international clients, delivering landmark residential projects across the country.
Home Lands has earned multiple accolades, including the Best Developer – Sri Lanka award at the PropertyGuru Asia Property Awards for three consecutive years, and in 2025 was honoured with Superbrands status, becoming the only real estate Superbrand in Sri Lanka.
OSL take:
Sri Lanka is entering a transformative phase of economic development with the rapid progress of Port City Colombo, a project increasingly viewed as a catalyst for positioning the country as a leading commercial and financial hub in South Asia. The signing of the SPA between Home Lands Group and CHEC Port City Colombo (Pvt) Limited to develop a landmark twin-tower high-rise project marks another major milestone in this journey. Strategically located along one of the world’s busiest maritime routes in the Indian Ocean, Port City Colombo presents significant opportunities for foreign businesses/investors seeking a stable and well-connected base in the region. At a time when geopolitical tensions and economic uncertainty continue to impact parts of the Middle East and other global markets, Sri Lanka’s location offers a valuable alternative for trade, logistics, finance, technology, and professional services. The development is expected to attract international businesses/investors looking to establish regional headquarters, offshore financial operations, and high-value commercial ventures. With modern infrastructure, investor-friendly regulations, and direct access to South Asian markets, Port City Colombo is positioned to become a gateway connecting Asia, the Middle East, and Africa. Beyond real estate and construction, the project is expected to create business/investment opportunities across banking, tourism, IT, logistics, and hospitality sectors, generating employment, boosting foreign direct investment, and contributing to Sri Lanka’s long-term economic growth ambitions.
| Article Code : | VBS/AT/202605185Z_1 |