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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Real estate sector : To see a major boom!

Real estate sector : To see a major boom!

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peacockman


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Real estate sector : To see a major boom!


Sri Lanka's real estate sector will see a major boom and more investments will be seen in this area, Copal Amba Sri Lanka Country Head Chanakya Dissanayake said .

Speaking at the Invest Sri Lanka Forum organised in London by the Colombo Stock Exchange in association with Bloomberg and the Sri Lanka High Commission in UK, he said in addition port related activities along with logistics too will see more opportunities opening up.

He said Sri Lanka will continue the business of transshipment even in a bigger way.

Highlighting the macro-economic overview for Sri Lanka,Dissanayake also identified tourism as another thrust area for Sri Lanka in the future. He said that Sri Lanka since last September has also seen a tremendous growth in Foreign Direct Investment.

"The main reason for this is the repositioning of the Sri Lankan foreign policy involving strong economic partners, USA, UK, EU and India.However Sri Lanka should have more bilateral agreements in place''.

Stewart Investor's Ashish Swarup said they have been investing in Sri Lanka for the past 25 years and have not had any issues.While identifying Sri Lanka as a land to watch he said they welcome the present political environment. "We like to see a government with no corruption like the present one and also a government truly democratic.'' He also said that family businesses were progressing very well and one of the best examples was the Hemas Group.

Acting High Commissioner Dr. Chanaka Talpahewa in his opening remarks said that the Forum was timely since the new Government was finalising a well-integrated economic policy to boost development.

Nearly 150 London-based fund managers, investment advisors and investors attended the event while a panel discussion moderated by Bloomberg's Head of Corporate and Investor Access Tom Tyler followed. The participating Lankan firms were John Keells Holdings, Commercial Bank of Ceylon , Hatton National Bank, National Development Bank, Dialog Axiata, Carsons Cumberbatch, Lion Brewery, People's Leasing & Finance, Softlogic Holdings, Tokyo Cement, Singer Sri Lanka, MTD Walkers and Sunshine Holdings.These firms were represented by Chairman, Managing Director or Director levels.

Finance Minister Ravi Karunanayake delivered the keynote address. 


see more : www.dailynews.lk

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