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SL signals readiness to host ‘new class of global luxury’

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Dignitaries at the apartment launch

Colombo’s skyline has a new jewel — the Sapphire Residences, where apartments start at USD 1.2 million and rise to nearly USD 3 million for the larger units. Unveiled to the media at an exclusive walk-through recently, this ultra-luxury oceanfront development is redefining premium living and signaling growing investor confidence in Sri Lanka’s high-end real estate market.

Developed by WelcomHotels Lanka (Private) Limited, a subsidiary of ITC Hotels Limited India, the project marks ITC’s first mixed-use development outside its home country. For ITC — a century-old conglomerate with a formidable reputation for excellence and sustainability — the Colombo project represents both a milestone and a message: Sri Lanka is ready to host a new class of global luxury.

“This is a landmark development and a statement of confidence in Sri Lanka’s future, said Subi George, Managing Director of WelcomHotels Lanka (Pvt) Ltd. “By merging world-class design with ITC Group’s philosophy of Responsible Luxury, we are proud to introduce a new benchmark for sustainable, ultra-luxury living in South Asia.”

The development comprises 132 residences, aptly called Sky Mansions, each designed to offer panoramic views of the ocean, Beira Lake and the Colombo cityscape. The smallest two-bedroom units span a generous 3,000 square feet, while the largest — the master penthouse — covers a breathtaking 20,000 square feet.

“All 132 apartments offer scenic water views, and 131 of them look directly over the Indian Ocean, noted Neluka De Alwis, Chief Sales and Marketing Director of Sri Lanka Sotheby’s International Realty, the exclusive sales and marketing partner for Sapphire Residences. “This is ultra-luxury vertical living at its best. In real estate, location is everything — and here, we’re right on the Galle Face oceanfront, Colombo’s gold phase.”

She added that the development’s clientele primarily comprises ultra-high-net-worth individuals (UHNIs) — both Sri Lankans based locally and overseas, as well as expatriates and foreign investors. “Been fortunate to attract discerning buyers who are end-users. These are not speculative investors — they’re people who plan to live here and make Sapphire their home, she said.

The Sapphire Residences is the result of collaboration among some of the world’s most respected names in architecture and design. Gensler (USA) served as the principal architect in partnership with Surath Wickramasinghe Associates, one of Sri Lanka’s leading architectural firms. The interiors were created by YOO Inspired by Philippe Starck (UK), while Thornton Tomasetti (USA) handled structural engineering and Burega Farnell (Singapore) crafted the landscape.

The striking triangular design and north-south orientation maximise light, airflow, and panoramic views, setting a new aesthetic standard for Colombo’s urban skyline. The project also embodies ITC’s sustainability philosophy, having achieved LEED Platinum certification, the globally recognised benchmark for environmentally responsible construction.

“This development is more than just glass and steel — it’s a reflection of optimism and belief in Sri Lanka’s potential, De Alwis added. “Projects like this show that Colombo is ready to compete on the global stage, offering world-class living infused with Sri Lankan warmth and charm.”

By Ifham Nizam ✍️



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World Bank puts USD 110m into climate-resilient road rebuilding

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A Cyclone Ditwah-damaged area in Sri Lanka.

By Ifham Nizam

The World Bank has approved USD 110 million in additional financing to rebuild around 600 kilometres of roads damaged by Cyclone Ditwah, with the investment aimed not merely at restoring connectivity but at making critical transport infrastructure more resilient to future climate shocks.

The financing comes against a much larger recovery requirement for the transport sector, estimated at USD 1.31 billion, highlighting the scale of the infrastructure challenge following one of the most destructive weather disasters to hit the country in recent years.

The World Bank said the additional financing, provided through the International Development Association (IDA) Crisis Response Window, would support road reconstruction incorporating improved drainage, landslide protection and upgraded engineering standards.

‘Cyclone Ditwah has had a devastating impact on connectivity across Sri Lanka, but rebuilding also gives us an opportunity to build back stronger, said Gevorg Sargsyan, World Bank Group Country Manager for Sri Lanka and Maldives.

The World Bank said the programme would go beyond repairing damaged roads, helping reconnect farmers with markets, communities with essential services and households with economic opportunities.

The additional financing will extend the Inclusive Connectivity and Development Project (ICDP) by three years, taking total World Bank transport investment under the operation to USD 610 million.

The World Bank’s December 2025 GRADE assessment estimated Cyclone Ditwah had caused USD 4.1 billion in direct physical damage, equivalent to around four percent of GDP. Infrastructure accounted for approximately USD 1.735 billion, or 42% of the total, with roads, bridges, railways and water systems among the heavily affected assets.

The Bank has stressed that the USD 4.1 billion estimate measures direct physical damage and does not include income or production losses or the full cost of recovery and reconstruction.

The transport sector alone suffered extensive disruption, making the rebuilding of road networks a critical component of the broader economic recovery.

The latest USD 110 million package is expected to directly benefit more than 830,000 people, while nearly two million people across eight districts are expected to benefit from improved connectivity.

The programme is also expected to support employment during reconstruction and improve market access for approximately 22,000 tea, vegetable and paddy farmers.

The World Bank’s intervention therefore combines immediate disaster recovery with a longer-term infrastructure objective: ensuring that money spent on reconstruction does not simply restore roads to their pre-disaster condition but reduces their vulnerability to the next extreme-weather event.

That approach is becoming increasingly important as climate-related disasters place additional pressure on already constrained public finances.

Rebuilding the same infrastructure repeatedly after floods, landslides and other disasters carries a significant economic cost, making resilience an increasingly important part of infrastructure investment decisions.

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SLIC Life offers Rs.1million free life cover to parents of children born on World Children’s Day 2026

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Senior Management of SLIC Life and officials of Castle Street Hospital for Women symbolically handing over a Free Life Cover of Rs. 1 million to a parent whose child was born on 1st of October 2026

In celebration of World Children’s Day 2026, Sri Lanka Insurance Life (SLIC Life) has once again extended a Rs. 1 million free life insurance cover to the parents of every child born on 1 October 2026, across Sri Lanka. Now in its fifth consecutive year, the initiative was implemented island-wide, covering hospitals across the country and enabling parents of newborns to benefit from this special offering.

Beyond providing financial protection, the initiative seeks to highlight the importance of planning for a family’s financial security from the very beginning of a child’s life.

“The birth of a child marks the beginning of a new journey filled with hopes, dreams and aspirations. At SLIC Life, we believe that protection should begin from the very start of that journey. Through this initiative, we aim to create greater awareness of the importance of planning ahead and the role life insurance can play in safeguarding families against life’s uncertainties. As we continue this initiative for the fifth consecutive year, we remain committed to extending meaningful protection to Sri Lankan families and contributing towards a more secure future for the next generation,” said Dr. Sameera Dharmasena, Chief Executive Officer of SLIC Life.

Launched in 2022 as part of SLIC Life’s Corporate Social Responsibility (CSR) programme, the World Children’s Day initiative was introduced with the aim of supporting parents and strengthening financial security for families at an important stage in their lives. Over the years, the initiative has become a significant part of SLIC Life’s annual CSR calendar, reflecting the company’s broader commitment to children, families and communities.

SLIC Life’s commitment to children and education extends across several long standing CSR initiatives. The ‘Pasal Piriyatha Surakimu’ programme, launched in 2007, has benefited over 3,365 underprivileged schools through initiatives including classroom refurbishments, water facilities, libraries and learning resources. The 2026 edition of the programme is scheduled to be carried out in November, continuing SLIC Life’s efforts to enhance learning environments for children across the country. Complementing this, the ‘Suba Pathum Scholarship Programme’, which has been conducted since 2014, has now awarded 2,425 scholarships valued at Rs. 265 million to children of policyholders who demonstrate excellence in national examinations. The programme reflects SLIC Life’s continued focus on supporting educational aspirations and creating opportunities for the next generation.

Children remain at the heart of SLIC Life’s commitment to building a more secure future. Through the annual World Children’s Day initiative and its wider CSR programmes, SLIC Life continues to demonstrate that the value of insurance extends beyond financial protection, contributing to stronger and more resilient families and communities.

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HelpAge thanks donors for helping in carrying out free cataract surgery program

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A surgery in progress under the aegis Helpage.

At a recent seminar HelpAge Sri Lanka (HASL) thanked local and foreign donors for strengthening the on-going free cataract surgeries program conducted by HelpAge Eye Hospital, Wellawatta for less- privileged elders over 55 years.

According to HelpAge Eye Hospital statistics the free cataract surgery programme was commenced in 2002 and over 55,000 surgeries have so far been performed for elderly citizens.

Head of HelpAge Eye Hospital Mahanama Wijesinghe said needy persons over 55 years of age could contact the hospital on telephone numbers 0112555759 and 0112589450 for free cataract surgeries.

‘Steps have been taken to conduct surgeries within a short duration of 30 days after attending the Eye Hospital clinic, he said.

Wijesinghe thanked all donors for their donations towards helping underprivileged citizens of the country.

HelpAge, Executive Director Dr. Harsha Bandara said HelpAge also conducts free medical and eye camps for needy elders and thanked donors for their donations towards this meritorious cause.

He requested philanthropists and donors to make their contributions for the sake of the needy.

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