Construction & Real Estate

Renewed growth in Sri Lanka’s construction industry is being supported by a combination of megaprojects with international partners, strong domestic demand and public investments in infrastructure. Following a slowdown in 2015, the sector is once again enjoying double-digit growth, possessing a strong order book with international investors increasingly present. Still, costs are high and rising, and there are risks to the outlook. Additionally, consistent income growth, urbanisation, the expansion of both domestic and foreign businesses, and the burgeoning appeal of property as an asset class among local investors have all contributed to the dynamism of Sri Lanka’s real estate sector. The real estate sector’s contribution to GDP grew by 2.7% year-on-year in the first half of 2017, according to the Central Bank of Sri Lanka. This chapter contains interviews with Qitao Liu, Chairman, China Communications Construction Company; Anthony Couse, CEO, JLL Asia Pacific; and Sumedha Ratnayake, Director-General, Urban Development Authority.