As of late 2015 Sri Lanka’s Western Province made up just 6% of the country’s total land area, but was home to 28% of the population, according to the Ministry of Megapolis and Western Development (MMWD), which was formed in mid-2015. Patali Champika Ranawaka, the minister of megapolis and western development, told local media in December 2015...
The very proposition of making Colombo a globally competitive city has come to be viewed from a broader perspective, including the entire western province centred around Colombo. This approach was born out of the need to consider not just economic prosperity, but also social justice and environmental sustainability. On the economic front, Sri...
Sri Lanka’s construction industry has been a major beneficiary of the country’s rapid economic development over the past six years. Since the end of the civil war in May 2009, the country has rushed to make up for more than two and a half decades of intermittent building activity across most segments, from high-end residential housing to commercial and office space to a variety of key...
Sri Lanka’s investment environment is set to become more balanced, transparent and predictable, with the elections of 2015 largely heralded as a win for inclusive governance, providing a fresh five-year mandate for an administration committed to economic revolution. As the country looks to broaden its investor base, it is hoped that policy changes and plans brought in by the new government will attract the added investment needed to help the country reach its growth goals.
Following a drafting and consultation process, in June 2015 the Abu Dhabi government promulgated a new real estate law, which officially came into effect on January 1, 2016. The 90-article law contains a wide range of measures, chief among which is the creation of a real estate registry – though some industry figures say that more remains to...
Indicators suggest that the ease of doing business in the Abu Dhabi construction industry is very high. The UAE as a whole (figures are not available for Abu Dhabi specifically) placed 31st out of 189 countries in the World Bank’s “2016 Doing Business” rankings, and second worldwide in the “dealing with construction permits” category (based on...
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