In The Press

Colombo’s property value to rocket following completion of mega project


Colombo, Aug. 15 – With the completion of a mega China-funded port city project in capital Colombo, property value here is expected to increase within six years, a leading property report said.

The report, titled Lanka Property Web, 2019, Real Estate Trend, said that with the completion of the Colombo Port City, business and residential areas in central Colombo will see a steep rise in property and rental values.

Projects, including residential buildings, located around the Beira lake front are expected to double in value within the next six years while rental yields will also increase due to the need for affordable, convenient, contemporary living close to the Colombo Port City.

The reclaimed land project of the Colombo Port City aims to develop Colombo as one of the most livable cities in South Asia.

The mega Colombo Port City, being constructed close to the Colombo harbor, is one of Sri Lanka’s largest foreign direct investment.