Business
Top real estate developers identified in new RIU brand heath survey
Research Intelligence Unit (RIU)
This year’s RIU survey delved deeper than brand surveys of the past by looking into multifarious factors that included brand awareness, brand perception, brand visibility, brand attributes and top of the mind recall. Home Lands, Prime Lands, Kelsey Homes, JAT, Blue Ocean, Span and Fairway were found to be the top seven most popular developers in 2021. The findings give some victories to all seven of the top players with the top two battling for gold..
During the course of 2021, the Research Intelligence Unit (RIU) conducted a large-scale survey covering many hundreds of property buyers and investors in order to identify the top developer brands in Sri Lanka and to highlight the brand dynamics thereof. The survey covered residents of Colombo, non-Colombo residents as well as the diaspora community. The findings provide a unique insight into how buyers think and how this impacts their investment decision making. From a developer perspective, the survey has identified the top seven players in the market with each of these claiming one or more victories. However, it is Home Lands and Prime Lands that are battling for the top spot.
The Home Lands Group had the highest percentage of respondents that indicated the brand as their ‘first preference’ whilst Prime Lands Group took the top spot of the overall rankings, followed by Home Lands, based on the survey results which included local and Sri Lanka diaspora investors / property buyers.
Locals and Sri Lankan diaspora
When isolating locals from the Sri Lankan diaspora, Prime Lands remains on top, followed by Home Lands. However, amongst the diaspora, Blue Ocean was ranked highest, followed by Span.
Respondents were also asked to rate (positive or negative) based on word of mouth with the developers. Here, Home Lands, with a 57% ‘positive’ result, was the only developer that had a client base with predominantly positive word of mouth.
In accordance with the survey findings, a large number of respondents stated that they had a very favorable past experience with JAT Holdings accompanied by Span Engineering and Fairway Holdings.
Top developers were also assessed in the survey in regards to brand perception: affordability, convenience, luxury, style/elegance, trust and value for money. The results highlighted the locals reckoned properties of Home Lands to be supreme in terms of luxuriousness and the diaspora acclaimed those properties to provide a better value for money.
Brand perception
The survey also revealed how respondents associated brands with the following attributes; brand, convenience, discounts, price, quality and time delivery. In regards to the ‘brand’ factor, Home Lands had the best result, while Prime Lands topped the list in terms of ‘convenience’ and ‘quality’. Blue Ocean, albeit marginally, is placed atop in regards to ‘price’, while Span is seen to provide the most ‘discounts’. Fairway tied with Span for top spot in terms of ‘timely delivery’.
The analysis shows significant differences between brand awareness and perception levels of diaspora and locals as well as residents from Colombo as against those who live outside the Colombo district. Similarly, there are differences between those who work in the private sector as compared to those in the public sector and those that use private as compared to public transport as well as differences by age groups.
The RIU survey also finds that the buyer information source landscape has changed completely in recent years. Now, social media’s influence in the real estate market dominates all other mediums and is highlighted in the survey. It was shown to provide the highest reach compared to other modes such as TV, radio, print media etc. This underlines the important function that social media plays in the current context for diverse forms of business communication.
The Research Intelligence Unit (RIU) has just completed 18 years of service in Sri Lanka with a track record of providing advisory services to most the top developers in the island and the Asia region. Headquartered in London, the RIU also have offices in the Maldives and Dhaka, Bangladesh.
For more information about the RIU and the Real Estate Market Annual Report 2021, contact info@riunit.com.
Business
Sri Lanka eyes India grid link as ADB pushes Pan-Asia energy integration
Sri Lanka’s long-discussed electricity grid connection with India is gaining renewed momentum, as the Asian Development Bank (ADB) intensifies efforts to promote cross-border energy integration across the region.
At the ADB Annual Meetings in Samarkand, Senior Director for Energy, Priyantha Wijayatunga, identified the proposed India–Sri Lanka grid interconnection as the most promising avenue to strengthen the island’s power sector. The concept dates back to the 1970s, when Sri Lanka, following the completion of the Mahaweli Development Project, even explored the possibility of exporting electricity. However, rapid economic growth and rising domestic demand shifted the country toward energy imports.
Today, with energy security and cost pressures mounting, the idea has regained urgency. “The time is right,” Wijayatunga said, stressing that political will and financing will be decisive. While undersea transmission cables make the link technically viable, costs remain a major challenge. The ADB, he confirmed, stands ready to support Sri Lanka as a development partner in advancing the project.
Sri Lanka’s prospects are closely tied to a broader regional vision being advanced by the ADB through its Pan-Asia Power Grid Initiative (PAGI). The initiative aims to transform how energy is produced, shared, and consumed across Asia and the Pacific by promoting cross-border electricity trade and grid connectivity.
PAGI is designed not merely as a collection of projects, but as a systems-level integration platform that connects national grids into subregional and eventually continent-wide networks. Its core objectives include bridging energy gaps, enhancing energy security, integrating large-scale renewable energy, and strengthening resilience across interconnected systems.
A key pillar of PAGI is leveraging the region’s resource complementarity. Countries in South Asia, for instance, possess uneven but highly complementary energy resources—hydropower in Nepal and Bhutan, and solar and wind potential in India. By linking grids, countries like Sri Lanka could tap into these diverse energy sources, reducing dependence on costly fossil fuel imports while improving reliability.
ADB estimates suggest that deeper regional power trade in South Asia could yield substantial economic benefits, including lower system costs and more efficient energy distribution. The initiative also envisions mobilizing up to $50 billion in investments by 2035, expanding transmission infrastructure, and improving electricity access for millions.
For Sri Lanka, integration into such a regional grid could be transformative. A connection with India would allow the country to import affordable electricity during shortages, stabilize supply, and support its transition toward cleaner energy. It could also open the door to future participation in a wider South Asian power market.
With feasibility studies and policy discussions already underway, and with ADB backing firmly in place, Sri Lanka’s long-envisioned grid connection with India now appears more achievable than ever.
As the Samarkand meetings underscore the urgency of regional cooperation in an increasingly uncertain energy landscape, Sri Lanka stands at the threshold of a new chapter—one where energy security is strengthened not in isolation, but through connection.
by Sanath Nanayakkare in Samarkand, Uzbekistan
Business
Oceans in crisis: Sri Lanka hosts ‘Sharks International 2026’ amid stark warnings
Sri Lanka this week finds itself at the centre of a deepening global ocean crisis, as leading scientists, policymakers and conservationists gather in Colombo for Sharks International 2026—a high-profile summit unfolding against mounting evidence that the world is rapidly losing control of its marine ecosystems.
The conference, now underway at the Bandaranaike Memorial International Conference Hall, marks the first time the prestigious forum has been hosted in Sri Lanka. But beneath the diplomatic language and scientific exchanges lies a far more urgent reality: the collapse of shark and ray populations is no longer a distant environmental concern—it is an unfolding economic and food security emergency.
More than 100 million sharks and rays are being wiped out globally each year, largely due to overfishing and illegal, unreported and unregulated (IUU) fishing. In Sri Lanka, the situation is particularly acute. Of the 105 species recorded in local waters, nearly 70 are now threatened with extinction, a statistic that scientists warn should set off alarm bells far beyond conservation circles.
Deputy Minister of Environment Anton Jayakody did not mince words when addressing the gathering, framing the issue not just as an ecological tragedy but as a looming economic shock.
“This is not just about saving species. It is about protecting the foundation of our fisheries, our food systems, and the livelihoods of thousands of Sri Lankans. If shark and ray populations collapse, the consequences will ripple through the entire marine economy,” he said.
Sharks and rays sit at the top of the ocean food chain. Their disappearance disrupts the delicate balance of marine ecosystems, triggering cascading effects that can decimate commercially valuable fish stocks. For a country like Sri Lanka—where coastal communities depend heavily on fisheries—this is not an abstract threat but a direct challenge to economic stability.
Yet despite years of warnings, critics argue that global action has been dangerously slow, fragmented, and often undermined by competing commercial interests.
By Ifham Nizam
Business
SriLankan Airlines leads with two category wins in South Asia at PAX Awards
SriLankan Airlines led with two wins in the Airline Award category for South Asia, securing both Best Overall Passenger Experience and Most Improved Airline at the PAX International Readership Awards 2026 held recently in Hamburg, Germany. The awards celebrate the industry’s best and brightest, with winners determined by votes from PAX’s global readership.
The Best Overall Passenger Experience – South Asia award recognises an airline that delivers an exceptional onboard experience to passengers across multiple service areas, including meal service, inflight entertainment and seating. At SriLankan Airlines, this entails meticulous planning at every stage of the passenger journey, supported by collaboration among multiple teams and continuous monitoring and refinement.
Maria Sathasivam, Manager Product Development of SriLankan Airlines, commented on the achievement, stating, “we are incredibly honoured to receive yet another independent endorsement of the service we deliver. Every interaction matters to us, and we are committed to consistently meeting and exceeding passenger expectations, and it is truly rewarding to see these efforts recognised.”
SriLankan Airlines continues to enhance the end-to-end travel experience, from booking through to arrival. Ongoing digital upgrades, including improvements to the airline’s website and app, are designed to deliver a more intuitive and seamless customer experience, supported by AI-driven features and expanded ancillary offerings. At its hub, the Bandaranaike International Airport in Colombo, the airline has also expanded self-check-in and bag drop facilities for added convenience.
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