Connect with us

Business

DFCC signs MOU with Havelock City, enabling ease of transactions to purchase luxury apartments

Published

on

From left to right: Ann Silva (Legal Officer, DFCC), Dulshini Jayathilake (Assistant Relationship Manager, DFCC), Pravir Samarasinghe (Group CEO/Director, Overseas Realty (Ceylon) PLC), Gillian Edwards (Senior Vice President Consumer Banking, DFCC), Samathri Kariyawasam (Vice President General Legal, DFCC), Ralph De Lanarolle (Director, Overseas Realty (Ceylon) PLC), and Shiromi Balasuriya (Head of Legal/Company Secretary, Overseas Realty (Ceylon) PLC).

In an effort to provide potential homeowners with specialised DFCC Home loan services, DFCC Bank recently signed an MOU with Havelock City. As a result of this, DFCC has proposed a special home loan product specifically designed for customers who wish to purchase Havelock City apartments. Structured loan schemes, grace periods and early settlement fee waivers are all vital features of this home loan product from DFCC.

Havelock City is the largest mixed-use development built of 18 acres of prime land in the heart of Colombo with both residential and commercial components. The residential apartments were built in Phases and the fourth and final phase is currently nearing completion and will be ready for occupation by February 2021 with luxury units available for purchase. In addition to phase 4, phase 3 too has a limited number of move-in ready units with COC approval for discerning home buyers.

The Clubhouse at Havelock City offers its residents a range of facilities and amenities from squash courts, gymnasiums, swimming pools, banquette halls, salon, launderette, mini-cinema, mini-market, and a café. The exclusive 7-acre garden with lush foliage provides a unique space within the city to experience a healthy outdoor lifestyle including walking paths, jogging tracks, open air exercise corners and a mini-golf putting green. The development is a brainchild of S P Tao, chairman of Overseas Realty (Ceylon) PLC a BOI approved flagship company who is also the owner, manager, and the developer of the iconic World Trade Center Colombo.

DFCC Bank extends a very special Home Loan to any individual securing an apartment at Havelock City. A Fixed income earner, professional or a self-employed individual with an income sufficient to meet the monthly loan commitment is eligible to apply for a DFCC Home Loan. Applicants could opt for a pre-approved Home Loan for which credit approval will be provided within 3 working days. A team of professionals are available at every DFCC Branch to offer extended support throughout the transaction.

The DFCC Home Loan offered to customers of Havelock city apartments include very special features such as a Grace period, waivers of early settlement fees and structured facilities.

DFCC Bank has a strong branch network which is strategically located throughout the country to cater to the needs of customers. They also have a fleet-on-street comprising of over 140 Banking Executives dedicated to serve the customer at their doorstep. As customers face the challenge of finding time to visit the bank, DFCC is fully geared to serve their customers at a time and place of their convenience. Furthermore, they are geared to serve their customers through the available digital channels where applying for a loan is just a click away.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Advocata Institute highlights regulatory barrier limiting women’s overtime earnings

Published

on

Advocata Institute says that, a regulatory barrier prevents Sri Lankan women achieving pay parity with their male counterparts despite recent legislative amendments that have opened doors for women to work night shifts.

Despite the 2024 and 2026 liberalizations of the Shop and Office Employees Act (SOEA), which allowed women over 18 to work night shifts in IT, BPO, and hospitality sectors, women remain legally barred from maximizing their income due to rigid overtime restrictions.

Under current regulations, women cannot be employed under the Shop and Office Act for more than nine hours per day, a limit that strictly includes overtime. While Regulation 6 of the Act permits up to twelve hours of overtime per week, this daily “hard cap” creates a practical barrier that prevents women from accessing the full overtime entitlement available to male workers. This creates a regulatory paradox: while the law now permits women to work at night, it simultaneously restricts them from working the hours necessary to take home the same pay as a man performing the same role.

The urgency for reform is underscored by the Sri Lanka Labour Force Survey for the third quarter of 2025, which reveals a significant participation gap. Female labour force participation stands at 33.9 percent, compared to 68.6 percent for men. Closing this gap is a key structural reform priority under Sri Lanka’s International Monetary Fund Extended Fund Facility (EFF) programme, which highlights the importance of modernizing labour laws to expand labour supply and support long-term economic growth.

Debates on reforming these restrictions are often framed around the concern that removing gender-specific protections could expose women to exploitation. However, a woman’s vulnerability in the labour market is shaped less by the absence of gender-specific laws and more by structural challenges such as inadequate public transport, poor workplace infrastructure, weak enforcement of law and order, and limited access to childcare.

Addressing these underlying barriers is critical to ensuring both protection and opportunity. True empowerment requires shifting the focus from paternalistic hour-caps to creating a safe, gender-neutral environment that allows women the agency to maximize their earnings and contribute fully to the national economy.

Continue Reading

Business

Drifting lubricant barrels trigger oil spill on southern coast; 99% of clean-up completed

Published

on

Samantha Gunasekara

Authorities have traced the oil contamination reported along sections of the Hikkaduwa and Peraliya coastlines in the Galle District to drifting barrels of industrial lubricant, while rapid response teams have already removed almost all visible oil deposits from the affected beaches.

The Marine Environment Protection Authority (MEPA), together with the Sri Lanka Coast Guard, launched an immediate response after oil patches were detected along about a 20-metre stretch of coastline in the Hikkaduwa and Peraliya areas.

Addressing a media briefing at the Ministry of Environment, MEPA Chairman Samantha Gunasekara said emergency shoreline clean-up operations began on March 7 under the instructions of Environment Minister Dammika Patabendi.

“Nearly 99 percent of the oil patches have already been cleared from the affected coastal stretch,” Gunasekara said, adding that the swift intervention by authorities had prevented the incident from escalating into a wider marine pollution crisis.

Investigations carried out by MEPA have confirmed that the contamination originated from barrels containing Shell Corena S2 P 100 lubricant oil that had apparently been lost at sea and later drifted ashore.

The lubricant manufactured by Shell plc is commonly used to lubricate the internal components of reciprocating piston air compressors. Officials said the substance is not classified as a hazardous or toxic oil, easing initial fears of severe environmental damage.

MEPA General Manager Jagath Gunasekara said monitoring of the coastline was continuing to ensure that no additional oil patches washed ashore.

Meanwhile, the Department of Wildlife Conservation said there had been no confirmed reports of harm to marine animals, including sea turtles and coastal wildlife, following inspections in the affected areas.

Wildlife officials said they were continuing to keep the situation under close observation to ensure that marine fauna along the southern coast remained safe.

Authorities stressed that protecting the ecological integrity of the southern coastal belt—particularly around the Hikkaduwa marine area—remains a priority, while further investigations are under way to determine how the lubricant barrels ended up drifting in Sri Lankan waters.

By Ifham Nizam

Continue Reading

Business

Support for psychological well-being: Launch of telemedicine psychology program in response to Ditwa Cyclone

Published

on

The Sri Lanka College of Psychiatrists has launched an innovative telemedicine psychology program designed to provide essential support and mental health care to individuals adversely affected by the Ditwa Cyclone. This initiative is a vital response to the psychological challenges faced by the community in the aftermath of the disaster.

However, the implementation of this program has faced significant obstacles, primarily due to a considerable lack of access to smart devices among the target beneficiaries. Recognizing the urgency of this situation, S-lon Lanka (Pvt) Ltd has made a commendable contribution by donating tablet devices through its corporate social responsibility initiative, the “Suwasahana Charika” Program. This generous donation aims to bridge the technological gap, ensuring that individuals in need can access the psychological services offered by the telemedicine program.

The collaborative efforts were strengthened during a recent event that was attended by key figures, including Mr. S.C. Weerasekara, the Group Director / Chief Operating Officer of The Capital Maharaja Group, and Dr. Dashanthi Akmemana, the Chairman of the Sri Lanka College of Psychiatrists.

The Sri Lanka College of Psychiatrists expressed its gratitude to S-lon Lanka for its support and is committed to addressing the community’s mental health needs during this challenging time.

Continue Reading

Trending