REAL ESTATE PROPERTY FOR DEVELOPMENT IN SRI LANKA

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“The market for real estate assets in Sri Lanka has shown a significant growth phenomenon since 2009 with a marked increase in price levels of real estate assets including bare lands, residential housing, commercial premises and condominium style apartments. Increased foreign investment interest in prime blocks of commercial lands in the city of Colombo, the acquisition and resale of leisure properties by private investors and a general increase in confidence levels of household investors is likely to have fueled the development of Sri Lanka’s property market during the past 24 months. ..” KPMG Lotus Tower Port City REAL ESTATE PROPERTY FOR DEVELOPMENT IN SRI LANKA

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“The market for real estate assets in Sri Lanka has shown a significant growth phenomenon since 2009 with a marked increase in price levels of real estate assets including bare lands, residential housing, commercial premises and condominium style apartments. Increased foreign investment interest in prime blocks of commercial lands in the city of Colombo, the acquisition and resale of leisure properties by private investors and a general increase in confidence levels of household investors is likely to have fueled the development of Sri Lanka’s property market during the past 24 months. ..” KPMG

Transcript of REAL ESTATE PROPERTY FOR DEVELOPMENT IN SRI LANKA

Page 1: REAL ESTATE PROPERTY FOR DEVELOPMENT IN SRI LANKA

“The market for real estate assets in Sri Lanka has shown a significant growth phenomenon since 2009 with a marked increase in price levels of real estate assets including bare lands, residential housing, commercial premises and condominium style apartments. Increased foreign investment interest in prime blocks of commercial lands in the city of Colombo, the acquisition and resale of leisure properties by private investors and a general increase in confidence levels of household investors is likely to have fueled the development of Sri Lanka’s property market during the past 24 months. ..” KPMG

Lotus Tower

Port City

REAL ESTATE PROPERTY FOR DEVELOPMENT IN SRI LANKA

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Demand Drivers

Economic Growth – after the war Sri Lankan economy is expected to grow at a pace of 7.5% according to IMF. Per Capita Income - i the per capita income of Sri Lanka is to rise to $6,000 by 2016 (Central Bank ) Increasing Urbanisation – due to high land prices and increasing urbanisation, residential apartments are a popular housing option for Sri Lankans abroad and high earning individuals in the country. Growing economic prosperity - a significant driver of the demand for commercial and retail propertiesTourism - is now realizing its fulfill potential after and is expected to create demand for leisure related developments. Government Policy - The development of the real estate sector in Colombo has been prioritised with significant initiatives to convert Colombo in to a modern city and to release underutilised land parcels for development by the private sector - PricewaterhouseCoopers

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JAELA –4.5 acres (18,212 m2) Ekala Industrial Estate, bare land with power and water, 20 km north of Colombo city alongside Katunayaka ExpresswayUSD 1,700 per perch (1 perch=25.2 m2)

Bentota

USD 2,800/perch

20 acres bare land no sea front

KURUNEGALA – 140 acre Coconut estate with Bungalow. Power and water available

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NEGOMBO – Talahena lagoon front 6 acres of land (24,282 m2)

USD 2,400/perchARUGAMBAY \ 2 .5 acres land (10,118 m2)with BOI approval for a HotelUSD 17,600 per acre

HAMBANTOTABeach front land

115 acres (465,485 m2)

USD 19,200 per acre

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KALUTARABeach Front land 15 acres (60,705 m2)

USD 512,000/ acre

KALPITIYADutch Bay Zone

112 acres ( 453,264 m2)Sea front Bare land

USD 32,000 per acreTRINCOMALEEBeach front 6 acres (24,282 m2)USD 9,600 per acre

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KANDY2 acres of land ( 8,094 m2) with large house

USD 2,800 per perch

GALLEBeach front land 4 acres (16,188 m2)USD 1,152,000 per acre