The construction industry has been a major beneficiary of Sri Lanka’s rapid economic development over the past six years. Since the end of the country’s 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...
In 2015 and early 2016 Sri Lanka’s real estate market expanded rapidly, continuing a medium-term growth trend that has been fuelled by an increased appetite for residential property among the nation’s wealthy and middle-class population, growing demand for grade-A office and commercial space from local and foreign corporates, and rising...
Despite a slight slowdown in building activity in Sri Lanka in 2015 – due primarily to uncertainty around presidential and parliamentary elections in January and August, respectively – rising demand for residential real estate points to long-term growth in the construction sector in the coming years. In a report released in November 2015, Asia...
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...
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