Sri Lanka’s Prime and Melwa secure third Marina District land parcel
Daily FT: Prime-Melwa has become the largest property investor in Port City Colombo, following the acquisition of their third and one of the most coveted land parcels in the Marina District.
The purchase lifts the partnership’s combined holding to approximately 16 acres, establishing it as the largest property investor in Port City.
For Prime and Melwa, the acquisition marks the next strategic step in a shared ambition to elevate Sri Lankan real estate to international standards and the vision of taking Sri Lankan Real Estate to the world.
The Marina District is among the most distinguished and sought-after addresses in Port City, and indeed in Sri Lanka, commanding high demand, premium positioning and strong value appreciation over short periods. Marina-front properties remain among the most prestigious and rarest categories in luxury real estate worldwide, particularly within international financial and lifestyle destinations.
The partnership’s concentration in the Marina is a deliberate, strategic choice. The marina district accounts for only around 1% of the entire Port City, making it exceptionally limited and exclusive. Crucially, it is also set to be completed within the next five years, well ahead of other development within Port City.
The newly acquired parcel will be developed as a mixed-use development, adding to the partnership’s growing presence in what is fast becoming Sri Lanka’s premier marina and waterfront destination. The investment showcases the confidence of both organisations in the country’s long-term prospects and in Port City’s standing as an emerging international real estate destination.
Prime Group Chairman Premalal Brahmanage said: “Becoming the largest investor in Port City Colombo is a significant milestone that reflects our confidence in Sri Lanka’s future and the immense potential of this transformative development. With the Marina District set to emerge as a world-class waterfront destination, our ambition is our nation Sri Lanka, Port City Colombo and Sri Lankan Real Estate to the world. delivering iconic developments that showcase the very best of Sri Lanka’s capabilities and potential to the world.”
The partnership’s first project, Prime Marina, has already proven a resounding success. Its grand launch on 10 June was a world-class occasion unlike Sri Lanka has witnessed before, followed by record-breaking sales demonstrating strong confidence local and overseas buyers have placed in Prime and Melwa.
With three strategic land acquisitions now secured, Prime and Melwa have positioned themselves at the forefront of Port City’s development, reinforcing real leadership in Sri Lanka’s real estate sector and helping to establish Colombo as a rising destination for global property investment.
OSL take:
Sri Lanka’s real estate sector is emerging as a key destination for foreign businesses/investment, supported by the country’s economic recovery, infrastructure development, and ambition to position itself as a regional business hub. Major developments such as Port City Colombo are creating new business/investment opportunities for international businesses/investors seeking exposure to high-growth commercial, residential, hospitality, and mixed-use projects. The recent expansion of Prime-Melwa’s investments in Port City Colombo highlights growing confidence in the long-term potential of Sri Lanka’s property market. As large-scale urban developments continue to attract both local and international capital, opportunities are expanding across premium residential developments, office space, retail complexes, logistics facilities, and tourism-related real estate. Foreign businesses/investors can also benefit from Sri Lanka’s strategic location in the Indian Ocean, improving connectivity, and increasing demand for modern business infrastructure. The Sri Lankan government’s efforts to attract investment, modernise urban areas, and develop world-class commercial districts are further enhancing the sector’s growth prospects. With landmark projects reshaping the country’s urban landscape and increasing interest from both domestic and international developers, Sri Lanka’s real estate sector offers attractive business/investment opportunities for foreign businesses/investors looking to participate in the country’s next phase of economic growth and regional integration.
| Article Code : | VBS/AT/20260702Z_4 |