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‘Come and Live in Sri Lanka’ real estate project targeting senior citizens

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By Hiran H.Senewiratne

Rangiri Holdings, a collective of diverse firms, has invested over Rs. 300 million in the last several years to construct environmentally- friendly residences for senior citizens targeting expatriates, in Pitakotte, and a star-class hotel in Dambulla, chairman, Rangiri holdings Nihal Pathirage said.

Six units of luxury apartments have already been completed of the 12 apartments in Pitakotte at the Bird Park as they hope to offer these to retired Sri Lankan expatriates.

“My first aim is to entice them to spend their retirement in Sri Lanka, offering them the concept of ‘come back and live in Sri Lanka’. I also hope to woo senior citizens of other nationalities based overseas to come and spend their retirement in these apartments, Pathirage told The Island Financial Review.

Pathirage added: “These apartments would not be given on an outright basis on very long leases, thereby firstly simplifying the migration to Sri Lanka (on a long-term visa) and also reducing the cost for a senior citizen when having to purchase a brand-new apartment and also reducing extra paperwork.

“These apartments are built near the wetlands of Madiwela with aged care facilities, giving them very quiet surroundings close to nature and we provide all the facilities, including medical care, for them.

“We have a professional team who are qualified in aged care and they will be deployed in this project to look after the senior citizens.

“I am also now looking at creating more eco-friendly apartments targeting senior citizens, mainly in the North-East and am planning to obtain over 20 acres of land in three locations. In a bid to get community support for this, I will also create an agro and farmer out-grower system and look at introducing fruit and vegetable canning factories, thereby creating a new income opportunity for them.

“Our second mega project, Rangiri Aqua, is situated bordering Ibbankatuwa reservoir in Dambulla on 15 acres, offering camping facilities and star-class accommodation for 150 guests with 40 double rooms, 3 family rooms, restaurants and a rooftop lounge.

“My main focus at Rangiri Aqua is to woo corporates to use this hotel for their team- building and outbound programs as we have a professional ex-army team and all the other infrastructure needed for it.

“In a bid to provide English and vocational training to youth mainly in rural areas our latest venture and diversification was to launch the Rangiri Management Institute of Technology (RMIT Campus), Sri Lanka’s latest addition to the international higher education institution sector. I can assure you that thousands of students who graduate from RMIT Campus will be placed at premium positions in the industry or in academia in Sri Lanka and abroad.

“Having started Stretchtec (Pvt) Ltd, in a small way, providing garment accessories, we diversified into many sectors and created the main company, Rangiri Holdings.

“We have over 200 dedicated staff and the company survived with minimum effort during the C-19 and lock down periods due to our strong application of employee training systems. Our service levels were never compromised.

“In 2018 Rangiri Aqua Edutainment Academy won the training contract to train and motivate 32,000 Sri Lanka Transport Board cadres and their two-day sessions required providing custom-made T-shirts and Bottoms. To cater to this demand, I created Nishu apparel which today is one of the leading garment factories adhering to the ISO 9001:201 Quality Management System. We were pioneers in donating masks and personal protective equipment for CSR projects.”



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Dr RAD Jeewantha named most innovative dentist of the year

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Dr Jeewantha receiving the award

Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.

His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.

He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.

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IIHS Foundation in Biological Studies offers fast-track route to global health careers

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The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.

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Seylan Bank Reports Strong Growth in Q1 2025 Financials

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Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.

Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.

Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.

Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.

In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.

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