Top Sri Lankan property developers promote Colombo projects in China
Sri Lankan property developers ventured into the Chinese market for the first time when some of the country’s most exciting property developments were showcased at the recently concluded Beijing International Property Show.
Indocean Developers, the promoter of ‘Altair’ — the iconic twin tower high rise — and Waterfront Properties (Pvt) Ltd., (A member of the John Keells Group) developer of ‘Cinnamon Life’ represented the sector at this show, which featured 360 international stalls of exhibitors from more than 30 countries and averaged 8,000 to 10,000 visitors per day.
“The scale and quality of some of the on-going building projects in Colombo justify looking at property development as a new segment of our export economy, as they have the potential to attract investors from many countries,” said Pradeep Moraes, Director of Indocean Developers. “While each project will compete in the market for buyers, there is a strong case for the leading property developers to work together to position and market the sector overseas.”
He pointed out that the Beijing International Property Show had attracted exhibitors from countries such as the USA, Canada, Australia, New Zealand, the UK, Spain, Portugal, Germany, Italy, Netherlands, Greece, Korea, Japan, Singapore, Malaysia, Thailand, UAE, Cyprus, Latvia and Bulgaria, all of them seeking buyers from China.
Roshanie Jayasundera Moraes, Chief Marketing Officer of the Property Group of John Keells Land and Executive Vice President John Keells Holdings, added: “Sri Lanka is poised for tremendous growth, and the new property developments in Sri Lanka will set the stage to take the country to the next level. Chinese overseas property investments over the last few years have grown astronomically. We are perfectly positioned along the silk route and will be a strategic hub in Asia. Sri Lankan property developments are still not on the radar among many foreign investors. Therefore the industry as a whole will need to work hard on promoting Sri Lanka as an attractive investment destination.”
