Sri Lanka’s Access Engineering says apartment and office pre-sales are bringing in more profits
Chairman of Sri Lanka’s Access Engineering, Sumal Perera has reportedly said that a transition from construction into a real estate firm is seeing early results with apartment and office pre-sales on track to bring more profits.
“In the long term, especially following 2020, our real estate projects of Capital Heights and Marina Square Colombo will contribute extensively to our bottom line,” Perera has been quoted as telling shareholders in the annual report.
“We are also hoping to extend Access Tower II by adding a new wing dubbed Tower III,” he has stated.
“Our drive is to position ourselves as a key player in the real estate sector, and maintain leadership,” Perera has further noted.
The construction industry has a lot more room to grow with the development of the Colombo Port City project, Perera has stated.
“Our short to medium-term strategy remains the same with the main focus being on our core business lines of engineering and construction,” Perera has also said.
OSL take:
The statement by the Chairman of Access Engineering indicates growing business opportunities in Sri Lanka’s real estate market and also the potential for growth in the engineering and construction sector. A growth in real estate usually results in an increase in the construction sector. Therefore, foreign businesses could look at opportunities in Sri Lanka’s real estate as well as construction sectors.
| Article Code : | VBS/AT/03092018/Z_1 |