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REITs set to offer new avenues of growth for property owners and investors

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The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Colombo Stock Exchange (CSE) recently conducted a webinar titled “REITs: The way Forward and Opportunities”, focusing on the newly introduced Real Estate Investment Trusts (REITs) Framework. The discussion also highlighted key features of this opportunity that can be a catalyst for multiple benefits for property owners, investors and the economy at large.

The webinar featured capital market and financial services experts including the chairman of CA Sri Lanka Manil Jayesinghe, CSE CEO Rajeeva Bandaranaike, Director Corporate Affairs at the Securities and Exchange Commission of Sri Lanka (SEC) Dr. Harshana Suriyapperuma, CSE Chief Regulatory Officer Renuke Wijayawardhane, Principal for Tax and Regulation at KPMG Sri Lanka Suresh R. I. Perera and Group Director Candor Holdings Ravi Abeysuriya.

Director Corporate Affairs at the SEC Dr. Harshana Suriyapperuma during his remarks noted the importance and significance of the introduction and provided the audience with a comprehensive understanding of the framework to issue and manage REITs in Sri Lanka. “Upon the SEC issuing the gazette notification, the Sri Lankan capital market can now formally accept applications for creating REITs not only for commercial & residential properties meeting the criteria but also for infrastructure projects. It’s important to note that Sri Lankan REITs are allowed only as a listed security, mainly to promote transparency and to facilitate retail investor participation. In Sri Lanka the attractiveness of REITs is expected to be further enhanced owing to the tax incentives included in the national budget. Checks and balances are included within the regulation framework to safeguard the interests of our investors whilst facilitating flexibility for the business case of REITs as an investment vehicle.”

It has been made mandatory within the framework that a REIT be managed by a managing company licensed by the SEC and meet the basic criteria stipulated within the listing rules to qualify for a listing on the CSE. The real estate assets owned by the REIT would be required to meet the minimum threshold of Rs. 500 million at the point of listing, it is mandatory that all units issued pursuant to a REIT be listed, a 30% stake to be held by the sponsor or strategic investor which will be locked-in for a period of 06 months and 20% of the units issued be held by a minimum of 100 shareholders are some of the basic requirement that need to be met at the point of listing a REIT.

Sharing remarks at the webinar, the CSE Chief Regulatory Officer Renuke Wijayawardhane highlighted the steps involved with Listing a REIT on the CSE and the overview of the process. To provide a perspective on the regulatory environment upon issuing and listing a REIT, Renuke also elaborated on the numerous compliance requirements that a REIT would be subject to at the point of listing as well as on a continuous basis. “Similar to a listed company, REITs would be subject to compliance requirements in the best interest of all stakeholders involved and with focus on investor protection and maintaining a fair and orderly market.” Commenting on the timeline for issuing a REIT and the approval process, Renuke noted that initial approval for the REIT would have to be obtained through the SEC and the listing application should be forwarded to the CSE within a month of obtaining approval. Renuke also highlighted the process with listing a REIT on the CSE and noted that it would only take around 50 days from the point CSE grants approval for the listing application up to the point of listing the units and be made available for trading on the CSE.

(CSE)



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ComBank hands over fully refurbished wards at De Soysa Hospital for Women

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Pictured here are the representatives of the Bank and senior officials of the hospital at the ceremonial handing over of the refurbished ward.

The Commercial Bank of Ceylon recently handed over Wards No. 03 and 04 of the De Soysa Hospital for Women, after the completion of a comprehensive renovation project launched in March this year to mark International Women’s Day.

Wards 03 and 04 handle a substantial share of the hospital’s patient load, and account for approximately 2,500 to 3,000 deliveries and 4,000 to 5,000 admissions annually. Their refurbishment was designed to significantly enhance patient care, safety and comfort, and directly benefit thousands of mothers and newborns.

Five Trustees of the Commercial Bank’s Corporate Social Responsibility Trust participated in the formal handing over of the refurbished wards to the hospital authorities. They were Sharhan Muhseen, the Bank’s Chairman, Raja Senanayake, Deputy Chairman, Sanath Manatunge, Managing Director/CEO, Hasrath Munasinghe, Chief Operating Officer, and Prasanna Indrajith, Chief Financial Officer.

Established in 1879, the De Soysa Hospital for Women is the first maternity hospital in Sri Lanka and the second oldest in Asia and is credited with, among others, performing the country’s first caesarean section in 1905 and establishing one of its earliest organised operating theatres in 1907.

The Commercial Bank’s Corporate Social Responsibility Trust, through which this project was implemented, has via its healthcare-related interventions supported more than 100 government hospitals with essential equipment and infrastructure, contributed to emergency medical services through the ‘Adopt an Ambulance’ initiative, and implemented targeted community health interventions such as water storage solutions for families affected by kidney disease.

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IIHS expands global nursing pathways

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Dr. Renuka Jayatissa and Dr. Kithsiri Edirisinghe speaking to the media

The International Institute of Health Sciences (IIHS) Multiversity is expanding its international education programmes with the aim of creating overseas employment opportunities for Sri Lankan nurses and allied health professionals while contributing to foreign exchange earnings.

Speaking to the media during a conference at IIHS Multiversity in Kerawalapitiya, Dr. Kithsiri Edirisinghe, CEO, Co-Founder and Dean of IIHS aid that the institute has established academic partnerships with overseas universities and higher education institutions, including the University of Surrey in the UK, Deakin University in Australia, Metropolia University of Applied Sciences in Finland, Asia e University in Malaysia and SUNY Canton in the United States.

Under its ‘Study in Sri Lanka, Graduate to the World’ model, students can complete foundational and diploma-level qualifications locally before progressing to international top-up degrees or overseas employment.

Dr Edirisinghe said the model could substantially reduce the cost of obtaining internationally recognised qualifications. It estimates that completing a four-year bachelor’s degree at the University of Surrey in the UK would cost about USD 145,700, including tuition and living expenses, compared with about USD 27,750 through the IIHS pathway in Sri Lanka.

Dr Edirisinghe said the institute’s focus on overseas deployment addressed both Sri Lanka’s economic needs and the growing global demand for healthcare workers.

“Our winning model is producing job-ready, registration-ready healthcare professionals who can seamlessly enter foreign healthcare systems,” he said.

IIHS, which began operations in 2002 as the American College of Health Sciences, established its institutional base in Welisara in 2008 and launched its purpose-built greenfield multiversity campus in 2023.

The institute said it has upgraded the qualifications of more than 5,000 government nurses, supported over 2,500 youth on international employment pathways and trained more than 1,000 allied health professionals. It has also carried out over 250 community health projects.

The institute has identified Germany and Japan among its target markets, with pathways planned for 2,000 nurses for Germany and a one-year preparation programme linked to around 4,000 healthcare positions in Japan.

Dr. Renuka Jayatissa, Vice-Chancellor and a specialist medical doctor, said demographic changes and the growing burden of non-communicable diseases were changing healthcare requirements in Sri Lanka.

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Sampath Bank launches Sri Lanka’s first community-powered book discovery platform at Colombo International Book Fair

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Sampath GPay customers can enjoy 25% cash back on Book Fair purchases

Sampath Bank PLC has launched Sampath Book Finder, Sri Lanka’s first community-powered book discovery platform, giving visitors to the Colombo International Book Fair a faster and more seamless way to find the books they are looking for across the fair’s 150+ stalls, while also opening up new opportunities to discover titles recommended by fellow readers.

Introduced on the opening day of the Colombo International Book Fair on 25 September, Sampath Book Finder brings together digital innovation and the collective knowledge of readers to address a familiar challenge at one of Sri Lanka’s largest literary gatherings, where the scale of the fair can make locating a particular title a time-consuming exercise. When a book proves difficult to locate, visitors can access bookfairtracker.com or scan the designated QR code and submit a request to the community, allowing readers who have already spotted the title to share its location and help others find it without having to search stall after stall.

Commenting on the initiative, Milinda Weerasinghe, Chief Marketing Officer, Sampath Bank PLC, said, “At Sampath Bank, we believe meaningful innovation begins by identifying everyday challenges and creating solutions that make a real difference. Sampath Book Finder brings this thinking to the Colombo International Book Fair by turning the collective knowledge of readers into a real-time digital solution, empowering them to find what they are looking for, discover something new and help others do the same, while making the overall experience more convenient and connected.”

The platform also turns book discovery into a shared experience, allowing visitors to recommend books they encounter by sharing the title, publisher, hall and stall number, which enables fellow readers to discover sought-after titles and recommendations while making it easier to locate them within the fair.

Sampath Bank’s longstanding association with the Colombo International Book Fair also continues in 2026, marking more than 20 years of partnership, with the Bank serving as the Official Banking Partner for this year’s fair. As part of its presence at the event, SampathCards offer 25% cashback for Sampath GPay customers on their purchases and 3 months 0% instalment plans for book purchases via Sampath credit cards, while visitors can also access banking services through the Bank’s physical presence at the fair. Customers registering to open selected Fixed Deposits at the premises will receive an additional 0.25%, adding further value and convenience for visitors.

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