Business
Apartments increasingly popular as an investment option in SL

Against the backdrop of inflationary pressures and the relatively low levels of returns earned on traditional investment avenues, investors are moving towards non-traditional investment avenues, among which investments on apartments are becoming increasingly popular, a CBSL market survey reveals.
The survey said:The Condominium Property Volume Index2 has increased significantly during Q4, 2021 with a notable increase of 49.0 per cent compared to Q4, 2020 and with a growth of 48.4 per cent compared to Q3, 2021. In the backdrop of inflationary pressures and the relatively low levels of return earned on traditional investment avenues, investors are moving toward non-traditional investment avenues, among which investment on apartments is becoming increasingly popular. Further, an observable shift is seen in the price categories f transactions. While 77 per cent of transactions were priced below Rs.25 million a year ago, it has reduced to 49 per cent in Q4, 2021. Moreover, the Single Condominium projects in the Colombo district remain to be the most preferred category in Q4, 2021.
Pre-sale deposits, bank loans and equity were the three key funding sources for condominium developments. The proportion of bank loans have increased marginally over the last year. The proportions were calculated to get an overall understanding about the funding structure of condominium developments by averaging the percentages of funds received through different funding sources provided by each developer.
Most condominium buyers were Sri Lankan residents and only a few condominiums were purchased by dual citizens and foreigners.
Purchase of condominiums for investment purposes and for future living has increased during Q4, 2021 while the proportions of purchases for immediate living and for rent have reduced significantly. The prime source of funding used for condominium purchasing remained to be buyers’ own funds, while on average 27 per cent of buyers have obtained bank loans during Q4, 2021.
1:This market analysis is based on the Condominium Market Survey conducted by the Central Bank of Sri Lanka for Q4, 2021 and 22 condominium property developers participated in this survey round.
2: Condominium Property Volume Index is compiled to capture the variations in market activities by way of number of sales transactions reported for the reference period.
(Base period: Q3, 2017 = 100).
Business
BOC secures ‘SLIM Kantar People’s Banking Services Brand of the Year 2025’

Reinforcing its position as a leader in Sri Lanka’s banking sector, Bank of Ceylon (BOC) has been once again named the ‘SLIM Kantar People’s Banking Services Brand of the Year’ at the SLIM Kantar People’s Awards 2025. This recognition, based on consumer preferences, highlights the bank’s role in Sri Lanka’s financial sector and its strong relationship with customers.
The SLIM Kantar People’s Awards, one of the most anticipated corporate events in Sri Lanka, is an accolade that directly reflects the voice of the people. Organised by the Sri Lanka Institute of Marketing (SLIM) and backed by an independent survey conducted by Kantar, the awards recognise brands and personalities that have established strong connections with Sri Lankan consumers. BOC’s repeated success in securing this award shows its continued trust and significance in the lives of millions.
As a financial institution that has played a key role in the country’s economic stability and growth , BOC continues to focus on digital banking, good governance, financial inclusion, and sustainability. Its efforts to improve financial literacy, promote savings and entrepreneurship, and support the SME sector have strengthened its position as a trusted financial partner.
Commenting on the achievement, the Chief Marketing Officer of Bank of Ceylon Sameera D Liyanage stated, “Winning the ˜People’s Banking Services Brand of the Year at the SLIM Kantar People’s Awards once again is a testament to the unwavering trust our customers place in Bank of Ceylon. This recognition reinforces our commitment to delivering innovative, accessible, and customer-centric banking solutions that empower individuals, businesses, and communities across Sri Lanka. As we continue this journey of excellence, we remain dedicated to shaping the future of banking with trust, resilience, and service at our core”
The bank attributes this latest recognition to the support of its customers and stakeholders. Expressing gratitude, BOC reaffirmed its vow to deliver banking solutions while maintaining a customer-focused approach. As it continues to adapt to technological advancements and market changes, BOC is focused on economic stability and financial well-being for all Sri Lankans.
For over 85 years, Bank of Ceylon has been a cornerstone of Sri Lanka’s financial landscape, connecting individuals and businesses to global opportunities. BOC’s extensive network with over 2,300 touch points spread across the nation, ensures that bank’s customers have convenient access to a wide range of financial services. Moreover BOC was ranked as the only Sri Lankan Bank among the Top 1000 World Banks 2024 and the Banker of the Year 2021,2023 and 2024 by The Banker Magazine UK, The Number 1 Banking Brand in Sri Lanka by Brand Finance Lanka. Internationally, Bank of Ceylon has established a strong presence in key locations such as a Subsidiary in London, UK; branches in Male and Hulhumalé in the Maldives; Chennai, India; and the Seychelles.(BOC)
Business
Sysco LABS concludes first edition of ‘Mentor Mash’ mentorship program

Sysco LABS recently concluded the first edition of ‘Mentor Mash’, an internal mentorship initiative designed to foster learning and professional development among colleagues. Over the course of six months, 26 mentor-mentee pairs engaged in structured mentorship, focusing on knowledge-sharing, career guidance and professional growth.
Speaking on the initiative, Rehan Anthonis, Senior Director – People Operations said: “At Sysco LABS, we recognize that the foundation of a strong workforce lies in continuous learning and development. The ‘Mentor Mash’ program was designed to provide colleagues with structured opportunities to gain insights, refine their skills and receive guidance from experienced professionals within the company. By fostering an environment where knowledge-sharing is prioritized, we are equipping our teams to drive innovation and excel as technology leaders.”
Sysco LABS remains committed to creating opportunities for internal learning, mentorship, and professional development, ensuring that colleagues are well-equipped to contribute meaningfully to company growth.
Business
Aitken Spence Institute of Hotel Management strengthens hospitality workforce with latest graduates

Aitken Spence Institute of Hotel Management, a key initiative of Aitken Spence Hotels’ Learning and Development arm, held its latest graduation ceremony at Heritance Ahungalla, marking another milestone in its mission to develop skilled professionals for the hospitality industry. Established in 2007 as part of the company’s strategic Corporate Social Responsibility (CSR) initiative, the institute operates with the support of the TUI Care Foundation, ensuring students receive world-class training and career opportunities.
With Hotel Schools in Ahungalla and Dambulla, the institute offers training in Food & Beverage, Housekeeping, and Professional Cookery through a five-month program that integrates classroom learning with practical industry experience. Since its inception, over 800 students have graduated, many securing employment within Aitken Spence Hotels or furthering their studies.
The 2025 graduating class comprised 90 students, with those from Ahungalla specialising in Food & Beverage and Housekeeping, while Kandalama graduates focused on Food & Beverage and Professional Cookery. The event was attended by graduates, their families, and senior representatives from Aitken Spence Hotels, including Susith Jayawickrama, Joint Managing Director of Aitken Spence Hotel Managements (Pvt) Ltd, Suresh Muttiah, Group Chief Human Resources Officer, and Maheesha Ratnayaka, COO of the Sri Lanka Hotel Sector.
Speaking at the event, Susith Jayawickrama emphasised the programme’s role in shaping the industry’s future workforce. “By equipping young professionals with the necessary skills and real-world exposure, we are not only enhancing their career prospects but also strengthening Sri Lanka’s hospitality sector,” he stated.
A notable highlight of the ceremony was the presence of Ms. Dagmar Wöhrl, Member of the Board of Trustees at the TUI Care Foundation, an organisation that has played a pivotal role in supporting the initiative. With assistance from the TUI Academy in collaboration with the Sustainable Hospitality Alliance, students receive comprehensive support, including accommodation, meals, uniforms, and a stipend during their training. The TUI Care Foundation is an independent charitable organization founded by TUI, one of the world’s leading tourism businesses and is dedicated to harnessing the positive impact of tourism to protect the natural environment and empower communities in travel destinations
More than 75% of graduates are expected to transition into roles within Aitken Spence Hotels, reinforcing the institute’s commitment to bridging the skills gap in the hospitality industry. This year’s ceremony once again highlighted the institute’s dedication to providing structured career pathways for aspiring hospitality professionals in Sri Lanka.
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