Sri Lanka’s Altair notes significant interest in investment opportunities in country’s property development sector
Altair of Sri Lanka has reportedly noted that the investment opportunities in the country’s property development sector have generated significant interest.
Altair was one of the leading participants from South Asia at the invitation-only 2019 Luxury Properties Showcase (LPS) exhibition in Shanghai, China. The event had reportedly attracted a record 12,500 elite property investors from around the world.
According to reports, Altair was among nearly 250 top-notch international real estate companies that came together during the three days of the exhibition under the LPS flag in Shanghai’s most iconic venue, the Shanghai Exhibition Centre.
“While the depth of investor interest in our offering was extremely encouraging, Sri Lanka’s ability to convert this to sales is constrained by the absence of a structured investment-linked residence visa programme similar to those offered by many competing destinations,” Altair Director Pradeep Moraes has been quoted as saying.
Reports have stated that the world’s most authoritative luxury real estate companies were at the show, from Coldwell Banker to Compass, Deleon, Lennar, Re/Max, Berkshire Hathaway Home Services, Barfoot & Thompson, Harcourts, McGrath, John L. Scott, Huttons, Mar Yapi, ERA, Windermere, SMDC, Royal Lepage, Nakheel, Omniyat, Sobha, Aldar, Meraas, and many more.
The Asia-Pacific region was well represented with the participation of China, Singapore, Malaysia, Vietnam, New Zealand, Australia, Cambodia, Sri Lanka, the Philippines and Myanmar, as well as two national pavilions set up at the show: a Thai pavilion and a Japanese pavilion, reflecting the growing appetite of Chinese investors towards these two markets, media reports have added.
OSL take:
The increased economic activity in Sri Lanka has resulted in the overall increase in demand for property and real estate in the country. Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region. All these have resulted in the continuous increase in demand for Sri Lanka’s real estate. Foreign businesses/investors could explore business opportunities in Sri Lanka’s property development sector.
| Article Code : | VBS/AT/20200203/Z_7 |