Business
Kurunegala – a new horizon for real estate investment
Land ownership and investment is a factor that has been held in high regard throughout generations, owing to the accompanying self-esteem and independence. Recognized as the most secure collateral by banks across the country, investment in land gives the owner the ability to utilize it for a variety of requirements; residential, construction, leasing, agriculture or even as a tool to raise funds. Thus, focusing on real estate is of extreme value as the return for one’s investments surpasses inequities.
While the capital city of Sri Lanka experiences drastic, under-planned development, investment opportunities are increasingly stagnant. However, a new investment hub for real estate is on the rise. Yatila Wijemanne, the Chairman of CBH Lands, has been driving real estate investment in Kurunegala. With a strong belief that Kurunegala is the next investment hub in Sri Lanka, he expounded on the advantages of real estate in comparison to other investment opportunities and the ways in which the perception of investment has changed following the onset of the COVID-19 pandemic.
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 4% per annum, while the actual inflation is around 6.7%. Thus, one receives a negative return of about 2.7% 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 following the pandemic. Influenced by the reduction in interest rates and the lowered taxes, farsighted investors rapidly progressed towards real estate. While a natural reduction in investments occurred at the onset of COVID-19, society has now eased towards the new normal with investment once again on the rise.
Recognizing the potential for investment in Kurunegala, CBH Lands has capitalized on the increase in demand and expansion within the North Western Province, paving the way for potential clients to purchase land plots through the developments undertaken by CBH Lands. Explaining how CBH Lands has set itself apart from competitors, Yatila Wijemanne said, “Unlike any other land developer, we have invested strongly in creating a proper database that equips us to provide the best land plots to our clientele. CBH Lands operates based on a strategic formula that we use for land selection. This is built by our dedicated research-based intelligence unit. We operate within the Kurunegala district, which gives our team an added edge of specialization within the geographic area. As they are trained extensively on Kurunegala, our clients meet some of the best in the business, who can consult and guide them on their investment.”
“For CBH Lands, a sale is not a mere land sale. We focus on providing land which will give you a solid return, and thus can be compared to any financial tool of investment, such as a fixed deposit or equity. The potential for re-sale is highly important to us as we understand the different objectives of clients who invest in real estate. Pricing for us is about transparency and what we can genuinely provide our clients; you will get a fair price and not a high price. This is mostly maintained because the CBH team gets personally involved in the selection of land plots for each of our clients. We take a 360-degree approach to servicing our clients,” Yatila Wijemanne further divulged.
With the current potential growth of the real estate industry in Sri Lanka, a substantial increase in prices is to be expected. In addition, with the increased inhabitation of the areas in the vicinity of the expressways, Kurunegala is an ideal area for affordable and accessible investment. The long term sustainability in real estate investment and the value additions pertaining to it make it a viable option for the future.
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
