Business
CBH Lands Opens Up New Avenues for Real Estate Investment in Kurunegala
A new real estate investment hub outside the commercial capital is advancing in Sri Lanka. Located in the heart of the North Western Province, Kurunegala is rapidly gaining momentum with the latest technologies, changing tenant preferences and behaviours, and enhanced facilities. This is further strengthened by the completion of the second phase of the Central Expressway, stretching from Mirigama to Kurunegala, adding to the promise of offering greater accessibility.
Expressways are one of the key infrastructure developments for real estate investors to consider. This is especially the case in Sri Lanka – apart from accessibility, the guaranteed continuation of infrastructure and technological development surrounding expressways is an attractive benefit for the urban population as well as forward-thinking industry stakeholders.
With people valuing time and money now more than ever, real estate investment is becoming a more lucrative option over the traditional methods such as savings. Real estate investment offers significantly higher returns and more control over assets. Without doubt, investing in property in close proximity to the Central Expressway, with access to entry and exit points, is an investment for life.
Naturally, properties around expressways swiftly skyrocket in popularity and therefore price, so now is the time take the first step of investing in real estate in Kurunegala.
Recognizing this potential for investment in Kurunegala, CBH Lands has capitalized on the increase in demand and expansion within the province, paving the way for potential investors to purchase plots of land through the developments undertaken by CBH Lands. With a strong belief that Kurunegala is the next investment hub in Sri Lanka, Yatila Wijemanne, Chairman of CBH Lands, expounded on the return on real estate in comparison to other investment opportunities.
Highlighting the benefits of the current investment landscape in Sri Lanka, Yatila Wijemanne explained, “In this prevailing low interest rate environment, funds held in banks provide negative returns, as they offer only 5% per annum, while the actual inflation is above 11%. Thus, one receives a negative return of about 7% minimum per annum by holding funds in the bank. Therefore, it is very important that you invest cleverly, and real estate, if selected carefully, offers the best returns. The key is to identify where one should invest in real estate, and choose an opportunity that will provide the highest amount of return as a percentage. Furthermore, the climate is conducive for real estate investment because home and land loans offer low-interest rates in the short and long run.”
Investment witnessed a sudden shift in the eyes of the general public with the onset of the COVID-19 pandemic. Influenced by the reduction in interest rates and lowered taxes, farsighted investors swiftly progressed towards real estate. While a natural reduction in investments occurred due to the pandemic, society has now eased towards the new normal with investment once again picking up, changing the perception of investment.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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