Business
CBH Lands sheds light on real estate investment with ‘#MyHomeKurunegala’
Real estate being highly regarded as a stepping stone to financial security, CBH Lands, a leader in real estate in Sri Lanka and the market leader in Kurunegala, shared new research and insights into the strategic importance of Kurunegala to national economic growth and community development.
Speaking at a special media briefing on 8 March 2022, CBH Lands Founder Chairman Yatila Wijemanne and Deputy Founder Chairman Manjarie Tissera explained the historic, territorial, and scientific aspects of real estate investment in Sri Lanka and opportunities for investors through its “#MyHomeKurunegala” initiative.
At present, Kurunegala is the second largest contributor to the national GDP (gross domestic product), with the second largest government teacher base and highest road kilometerage. With a trade economy that functions independently, whereas many other areas mainly rely on tourism or their close proximity to Colombo, Kurunegala is strategically located at the crossroads of key internal routes in the country.
Over the past three years, Kurunegala has demonstrated an annual land price appreciation of 60%, according to CBH Lands Intelligence. While the company only focuses on lands, it was mentioned that lands are an appreciating asset that can be easily valued.
Elaborating further on this in response to a question regarding the viability of real estate investment in the current environment, Mr. Wijemanne noted that in the recent years, a significant drive for real estate investment for residential and commercial purposes has been recorded. He further noted that while there are certain bottlenecks, the low interest rates as well as all-time low housing and home loans offered at present contribute to the high demand.
When questioned about the environmental impact, Mr. Wijemanne explained: “Generally, we have to go through a minimum of around 12 government bodies for each project, starting off with the Local Authority, Provincial Council, Urban Development Authority, and then the government with an analysis. From there we are referred to the Water Board, Central Environmental Authority, and Road Development Authority. We have a separate team deployed to handle all approvals.”
Adding to this, Ms. Tissera pointed out that Kurunegala is the only district in Sri Lanka that requires a developer licence, which she opined should be the practice in other districts, too. She noted: “Every district should have a policy where a licence is required for this kind of subdivisions. That way, other rivers and such can be protected, too, not just in Kurunegala.”
Drawing attention to the “Real Estate Decision Triangle”, put together by CBH Lands Intelligence, it was mentioned that investor decisions are based upon the three factors of budget, space, and location. Noting that generally real estate investment is a compromise, especially in Colombo and Gampaha Districts, where one of the factors are sacrificed, Kurunegala poses no such threat at the moment.
Both Mr. Wijemanne and Ms. Tissera emphasised that while national development programmes and marketing campaigns – such as those implemented in Hambantota – could be highly beneficial, the responsibility of the development of Kurunegala also falls on the shoulders of developers, residents, and businesspersons of the district.
Business
“ViYASA” National Business Facilitation Centre (NBFC) to be opened tomorrow (22)
The National Business Facilitation Centre (NBFC), which is being established under the Presidential Secretariat with the aim of removing administrative and regulatory barriers that exist among government institutions in relation to investment and industry and expediting these processes, will be opened tomorrow (22).
The centre is being established on the President’s initiative with the aim of bringing about a positive transformation in the industrial sector. The centre will provide solutions to issues that arise in dealing with the government machinery when starting and operating a business, while also coordinating with the relevant government institutions to provide the necessary facilities.
The “ViYASA” National Business Facilitation Centre (NBFC) has been established at Building C-80, Hector Kobbekaduwa Mawatha, Colombo 07, and is headed by Senior Additional( Secretary to the President, Seevali Arukgoda.
The centre will be opened under the patronage of Minister of Labour and Deputy Minister of Finance and Planning Dr Anil Jayantha Fernando and Minister of Industry and Entrepreneurship Development Sunil Handunnetti, with the participation of Secretary to the President Dr Nandika Sanath Kumanayake.
The website https://nbfc.presidentsoffice.gov.lk is also scheduled to be officially launched on the occasion.
President’s Media Division)
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
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