Orel Corporation in strategic partnership with Prime Residencies

By Ifham Nizam

Sri Lanka’s leading electrical goods manufacturer, Orel Corporation, on Monday announced a strategic partnership with Prime Residencies, a leading real estate company here, for their upcoming iconic project, The Palace Gampaha.

The partnership was officially signed recently which designates Orel Corporation as the primary contributor responsible for external electrical systems in this innovative development.Speaking to The Island Financial Review, on their target market group, Prime Director Noel Joseph said the Palace Gampaha is designed to cater to the discerning preferences of upper-middle-class individuals.

Joseph added: ‘The residences are situated in a prime location, suggesting easy access to essential amenities and a desirable neighborhoods.

‘The project emphasizes a balance between affordable living and sophistication, indicating that it aims to provide luxurious homes at a reasonable price.

“The residences come with premium features, likely including high-end amenities, advanced security systems, and quality finishes to meet the standards of the upper-middle-class demographic.

‘The mention of exclusive events suggests a focus on community building and social activities for the residents, fostering a sense of belonging and a luxury lifestyle.

‘The introduction of a revolutionary 1% per month payment plan is highlighted. This unique payment structure may make the dream of opulent living more attainable for potential buyers.

‘The project promises an unmatched lifestyle for residents, indicating that it goes beyond providing just a place to live and aims to create a unique living experience.

‘The project is positioned in the vibrant location of Gampaha, suggesting that it is part of a lively and dynamic community.

‘For those seeking refined elegance in their homes, The Palace, Gampaha aims to fulfil this desire, indicating a focus on aesthetics and luxury.

‘Overall, the description paints a picture of a high-end residential project that combines affordability with luxury, offering a distinctive living experience for upper-middle-class individuals in the vibrant city of Gampaha.

‘The real estate sector has experienced steady growth, driven by rapid urbanization and population expansion. This growth is likely fueled by an increasing demand for housing and commercial spaces in response to urban development.

‘Sales taxes, including Value Added Tax (VAT) and Social Security Contribution Levy (SSCL), are mentioned as contributing to the challenging environment. These taxes will add to the overall cost of a project and affect its financial viability.

Prashantha Hettiarachchi, Project Manager/Management Consultant Orel, told The Island Financial Review; “Our target market is developers, investors in the building sector and consultants in Building Services Engineering.

‘I am happy to say that we have achieved more than 10% of the market share in turnkey projects in the electrical sector in Sri Lanka within one year.

‘The key of the success of the Orel turnkey division is its ability to offer comprehensive solutions tailored to the unique needs of our clients. Whether it’s project management, design, procurement, installation, or maintenance, we have assembled a team of experts to ensure a seamless and hassle-free experience for our clients.

Pramuditha Gurusinghe, Assistant General Manager – Turnkey Projects from Orel Corporation stated; ‘’We are happy to join forces with Prime Residencies, Sri Lanka’s top notch real estate giant, embarking on a transformative journey to redefine the landscape of infrastructure development— and this marks a tremendous milestone for our turnkey projects’ portfolio. This strategic partnership in which we facilitate robust electrical infrastructure, reinforced by the pioneering spirit of Prime Residencies in the realm of building development, signifies our commitment to paving the path to a brighter and connected tomorrow’’.

Nalinda Heenatigala, Director Corporate Affairs of Prime Lands Residencies PLC, shared his enthusiasm about the partnership, stating, “We are excited to introduce an exclusive investment opportunity for The Palace Gampaha to our valued clients. Our ground-breaking payment plan, a first of its kind in Sri Lanka, aims to provide a luxurious and accessible lifestyle to our investors. Committed to revolutionizing real estate investment in Sri Lanka, we aim to offer a unique and unparalleled experience for our clients.”