Since the end of the three-decade-long armed conflict in 2009, the construction industry has benefitted from rapid economic development. Despite unprecedented development in high-end residential and commercial space, as well as hotel and resort construction, the sector continues to be hampered by worker migration, with many construction...
While the construction sector witnessed substantial growth in the 24 months leading up to 2018, domestic market forces including a falling rupee, warnings of an asset bubble and political instability have stymied growth of late. However, despite market disruptions, a number of key projects forged ahead in 2018, including Port City Colombo and the Hambantota Industrial Zone. Impressive economic...
Sri Lanka’s progress with free trade agreements, finance reforms, and growth strategies for manufacturing and ICT should encourage increased foreign direct investment. Sri Lanka was named the top travel destination for 2019, and the government’s 2025 development strategy aims to increase public-private partnerships, nurture innovation and increase investment in special economic zones.
In 2008, for the first time in history, more than half of humanity was living in urban areas. Perhaps the most remarkable observation about this trend is the speed at which it has happened: as recently as 1900 urban areas accounted for 13% of the global population. Towns and cities are seen as the crucibles of opportunity for many rural...
The March 2018 announcement of a Dh30bn ($8.1bn) joint venture (JV) between Dubai-based Emaar Properties and Abu Dhabi’s Aldar Properties has created a wave of interest in the potential of such arrangements for the broader real estate sector. While the Emaar-Aldar agreement is unique in its size and scope, Abu Dhabi has seen an uptick in the...
Although it has become a strong contributor to economic diversification, Abu Dhabi’s real estate sector is being put under pressure by slower growth, brought on by the period of low global oil prices that started in 2014. Public and private sector spending cuts since 2015 have been reflected in capital value, with rental rates declining to...
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