Monday, October 7, 2019

Real Estate Investment Opportunities in Sri Lanka (Part 2)



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.
Real Estate Investment Opportunities in Sri Lanka
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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