After a constant
era of remarkable economic growth over the previous decade, Sri Lanka's ' Pearl
of the Indian Ocean ' is experiencing a rise in real estate investment.
- A vibrant democracy & political
stability, and a transparent and robust legal system based on the canons of
England's laws.
- Freedom of investment policy
for foreigners and an open legislative system for free movement of assets.
- A comparatively good tax
environment
- Peaceful South Asian region and
a steady growth economy combine to highlight this island as one of the top real
estate investment opportunities in developing Asian economies.
According to
World Bank estimates, extensive government investment and private consumption
have helped produce an impressive 4.5 percent GDP development. The capital city
of, Colombo, is one of the fastest-growing business hubs in the region.
Located at the
center of significant shipping routes linking South Asia and the Far East with
Europe, Africa, and America, it enjoys enormous strategic significance, and
today the town is a base for countless companies and institutions of
government.
Also, robust air
connectivity and tourist popularity supplied a solid basis for the
transformation of the country. Sri
Lanka's high tourism potential – and particularly luxury tourism – has led some
significant infrastructure initiatives such as the Port City reclamation
Colombo International Financial Center, Megapolis and Beira Lake, as well as
improvements in transportation including new highways, a new Colombo Light
Railway (CLR) and extension of airports.
Real estate,
however, is the significant success story that underpins the development of Sri
Lanka. As the nation seeks to gain prominence in South Asian economies, GDP
development will coincide with rising wages, resulting in increased demand for
high-quality accommodation.
Also, increasing
demand from local and international companies for quality office and business
space is spurring private-sector investment. Alone at the Port City, the
suggested International Financial Center will add 5.65 million square meters of
new mixed-use property.
Attracted by the
robust economic growth, developers from far away are increasingly focusing on
Sri Lanka, particularly Colombo; concerning significant current Chinese
investment in Colombo, the Japanese company Belluna Co. has lately announced
plans to invest US$ 500 million in real estate projects here.
OSL Take: Sri
Lanka's government's aggressive development program has further risen property
prices making properties on the island an accessible investment opportunity
with short-term advantages. The proposed project of Colombo Port City will also
improve land value. Foreign businesses/investors could, therefore, explore
possibilities for business/investment in the real estate industry in Sri Lanka.
⇐ Real Estate Investment Opportunities in Sri Lanka
VBS/AT/07102019/Z_TB1
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