Business
Kelsey Homes continues steady growth in Q3 2021 despite challenging times
Sustained interest in units in CENTRAL PARK JA-ELA and URBAN GATEWAY KOTTAWA projects helped Kelsey Homes secure total reservations with an expected sales value of LKR. 4.66 Bn, as of 31st December 2021 with the revenues set to be recognized in the coming months with project progress. The company reported LKR. 149.92 million in revenue for the 9 months ended 31st December 2021
“Kelsey Homes has established itself as a trusted pioneer offering distinct, premium properties that provide exceptional value to customers. We strive to empower more Sri Lankans here and overseas to reap the benefits of investing in real estate through our portfolio of ultra-modern living spaces that come with the finest amenities and a world of benefits. This in turn has enabled us to deliver steady returns to our investors while continuing to add value to all other stakeholders,” said Eardley Perera, Chairman of Kelsey Developments PLC.
“Despite challenging global and local economic conditions and prevailing uncertainties, we have faith in the growth potential of Sri Lanka’s real estate sector. We look forward to working more closely with our business partners including banks, contractors and suppliers to see how we can collectively provide better living environments for Sri Lankans support their aspirations in these trying times.”
While the pandemic had a significant impact on business operations through 2020 and 2021, Kelsey Homes successfully concluded the sales of all units of CENTRAL PARK JA-ELA Phase I and II in FY 2020-21 and is now on the verge of completing the sale of all units in Phase III of the project. The Company had acquired an 82 perch prime property in Nugegoda, a neighbourhood that has high market value and demand, to begin construction of an iconic 100-unit apartment complex during 2022. Holding inventories to the tune of LKR. 2.06 Bn in estimated sale value, as of 31st December 2021, the developer is currently focusing its efforts on the sales of its existing projects while actively seeking out other properties for future developments.
“Our record of delivering high-quality living spaces that also serve as great investment vehicles for over 35 years has helped us emerge as one of the nation’s preferred real estate developers. Our commitment to delivering highly valuable, premier living spaces is reflected in the multitude of recognitions we received at the recent PropertyGuru Asia Property Awards (Sri Lanka) where we bagged the Best Lifestyle Developer in Sri Lanka and the Best Architectural design in Sri Lanka awards for Central Park, Ja Ela as well as commendations in the Best Condo Development (Colombo Metropolitan Region) and Best Housing Development (Colombo). This has enabled us to maintain our sales and revenue growth despite prevailing market conditions. We are seeing steady demand from a growing segment of prospective homeowners who appreciate the value offered by our affordable housing units like Central Park which are high on features and amenities.
‘’Encouraged by the response, we look forward to offering more units of this kind to enable more Sri Lankans to realise their dream of owning a home,” said Lalinda Kalubowila, Chief Executive Officer of Kelsey Developments PLC.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
