Business
Kurunegala – a new horizon for real estate investment
Land ownership and investment is a factor that has been held in high regard throughout generations, owing to the accompanying self-esteem and independence. Recognized as the most secure collateral by banks across the country, investment in land gives the owner the ability to utilize it for a variety of requirements; residential, construction, leasing, agriculture or even as a tool to raise funds. Thus, focusing on real estate is of extreme value as the return for one’s investments surpasses inequities.
While the capital city of Sri Lanka experiences drastic, under-planned development, investment opportunities are increasingly stagnant. However, a new investment hub for real estate is on the rise. Yatila Wijemanne, the Chairman of CBH Lands, has been driving real estate investment in Kurunegala. With a strong belief that Kurunegala is the next investment hub in Sri Lanka, he expounded on the advantages of real estate in comparison to other investment opportunities and the ways in which the perception of investment has changed following the onset of the COVID-19 pandemic.
Highlighting the benefits of the current investment landscape in Sri Lanka, Yatila Wijemanne explained, “In this prevailing low-interest-rate environment, funds held in banks provide negative returns, as they offer only 4% per annum, while the actual inflation is around 6.7%. Thus, one receives a negative return of about 2.7% minimum per annum by holding funds in the bank. Therefore, it is very important that you invest cleverly, and real estate, if selected carefully, offers the best returns. The key is to identify where one should invest in real estate, and choose an opportunity that will provide the highest amount of return as a percentage. Furthermore, the climate is conducive for real estate investment because home and land loans offer low-interest rates in the short and long run.”
Investment witnessed a sudden shift in the eyes of the general public following the pandemic. Influenced by the reduction in interest rates and the lowered taxes, farsighted investors rapidly progressed towards real estate. While a natural reduction in investments occurred at the onset of COVID-19, society has now eased towards the new normal with investment once again on the rise.
Recognizing the potential for investment in Kurunegala, CBH Lands has capitalized on the increase in demand and expansion within the North Western Province, paving the way for potential clients to purchase land plots through the developments undertaken by CBH Lands. Explaining how CBH Lands has set itself apart from competitors, Yatila Wijemanne said, “Unlike any other land developer, we have invested strongly in creating a proper database that equips us to provide the best land plots to our clientele. CBH Lands operates based on a strategic formula that we use for land selection. This is built by our dedicated research-based intelligence unit. We operate within the Kurunegala district, which gives our team an added edge of specialization within the geographic area. As they are trained extensively on Kurunegala, our clients meet some of the best in the business, who can consult and guide them on their investment.”
“For CBH Lands, a sale is not a mere land sale. We focus on providing land which will give you a solid return, and thus can be compared to any financial tool of investment, such as a fixed deposit or equity. The potential for re-sale is highly important to us as we understand the different objectives of clients who invest in real estate. Pricing for us is about transparency and what we can genuinely provide our clients; you will get a fair price and not a high price. This is mostly maintained because the CBH team gets personally involved in the selection of land plots for each of our clients. We take a 360-degree approach to servicing our clients,” Yatila Wijemanne further divulged.
With the current potential growth of the real estate industry in Sri Lanka, a substantial increase in prices is to be expected. In addition, with the increased inhabitation of the areas in the vicinity of the expressways, Kurunegala is an ideal area for affordable and accessible investment. The long term sustainability in real estate investment and the value additions pertaining to it make it a viable option for the future.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
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