Sri Lanka’s Colombo Port- city dredging completed ; Ready for investors

Jan 14, 2019 (LBO) – Sri Lanka’s proposed Financial City better known as the Port City has now fully completed land reclamation, Ministry of Megapolis and Western Province Development said. The new city will function as a special jurisdiction area with its own economic and commercial laws to facilitate operations of global multinational corporations. The completed…

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“Apartment sales slowing due to relatively lesser cash flows for these investments” HNB CEO

Mar 27, 2019 (LBO) – Successful real estate sector outcomes will be dependent upon sound strategy that puts into place foreign investment for new projects, a senior banker said. “If the necessary national development does takes place and if foreign investment and new projects take off and GDP grows to the expected levels, I think we will…

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Condominium developers urge buyers to profit from Sri Lanka’s new VAT laws

Mar 07, 2019 (LBO) – Condominium developers are urging buyers to profit from the new VAT laws as all condominiums are about to go up in price soon. After the 1st of April, any condominium buyer will have to pay 15 percent VAT on top of the purchase price. Eduard Hempel, Director of Tamba Villas…

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