Sri Lankan property developer acquires three new lands for development

Sri Lankan property developer acquires three new lands for development

Sri Lanka’s Homelands Skyline (Pvt) Ltd., which is a leading real estate developer, has recently announced the acquisition of three new properties in Negombo, Meegoda and Piliyandala Kahathuduwa to add to their portfolio of high value property.
The new properties are located in three locations that have proven to be in high demand, both as commercial property and as residential plots, local media reports stated.
With a reputation of breaking records and constructing properties with innovative and cutting-edge technology and revolutionary concepts in the real estate industry, Homelands Skyline (Pvt.) Ltd. is reportedly expected to develop these lands into yet another modern architectural paradise.
“The real estate market has seen a massive impact from the Covid-19 pandemic and we are doing our part by procuring land to drive real estate forward in the midst of the pandemic and to see continued growth of the real estate sector. Moreover, this project fits well with our strategy of deepening our presence across the country’s leading real estate markets.” the company has announced.

OSL take:

The positive developments in Sri Lanka’s economy as well as the expansion of economic activities in the country has once again increased the value of house, property and real estate in the country. Sri Lanka’s real estate sector is on a growth path resulting in a spike in land values. Given Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country have made it a business hub in the South Asian region. Foreign businesses/investors could therefore explore business opportunities in Sri Lanka’s house, property and real estate sectors.

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Article Code : VBS/AT/20210217/Z_3

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