Business
TRI-ZEN 45% done: trend towards investing in apartments says JKH
Attractive interest rates & real estate-focused financial products catalyse demand
A combination of attractive interest rates and the launch of real estate-focused financial products is leading a trend towards investing in apartments, according to John Keells Holdings Vice President, Head of Sales and Marketing (Property Group), Nadeem Shums.
Sri Lanka’s financial sector has reached a phase of low interest rates – for fixed income products and housing loans. Together with strong underlying demand for condominium properties, the developer reported a surge in demand from investors on the look-out for stable, high yielding investments.
“Despite the challenges arising from the pandemic, the real-estate sector has continued to perform well. We have also made steady progress on construction with the towers ascending to the 39th floor. You can now start to see TRI-ZEN taking shape and transforming Colombo’s skyline,” Shums stated.
He added that with increased urbanisation more Sri Lankans are seeking a new standard in convenience offered by properties like TRI-ZEN because of the central location, superior amenities, and attractive rupee pricing. “This is where our competitive pricing, relative to other metropolitan developments, proves to be particularly attractive. Especially with increased construction costs and land costs, the value of such condominium properties will continue to appreciate.”
In order to offer aspiring homeowners greater financial flexibility, JKP announced a slew of partnerships with some of Sri Lanka’s leading banks for its ground-breaking ‘Freedom Mortgage Package’. By providing customers a two-year interest free period on their mortgage, it requires customers to only pay 20% now and nothing more for the next two years. Customers can enjoy a payment free period of two years, after which the interest payments begin, and the capital repayments are made three years thereafter.
Interest rates are attractive, from just 7% per annum, and homeowners have the choice of a suite of mortgage packages with minimal down payment required. With three leading banking partners offering expansive branch networks and excellent customer service embedded within the pioneering mortgage plan, homeowners have the choice of partnering with a financial institution of their choice.
“The response to Freedom Mortgage has been very positive, and it has allowed many investors who, would typically not be in a position to put together large amounts of capital, to finally have a clear path to invest in a project like TRI-ZEN. This is game changing for those looking either to hold the property as a long-term investment or to simply have a pad in the city for your family,” Shums said.
TRI-ZEN is a joint venture between Indra Traders (Pvt) Ltd and John Keells Holdings PLC, with China State Construction Engineering Corporation Ltd (CSCEC) serving as the main contractor. The three tower 891-unit apartment project on Colombo’s Union Place will have one, two and three bedroomed apartments, with two-bedroomed apartments starting from just Rs. 36 million.
The complex will have over 35 amenities for a thriving community including green spaces, a jogging track, a swimming pool, fitness and wellness studios, and a games room, providing residents with an integrated living space capable of meeting all their needs, while its central location provides easy access to the heart of Colombo. (news release)
Business
USD 50 mn battery storage investment expected to power SL’s renewable energy push
Sri Lanka has taken a major step towards modernising its power infrastructure with the arrival of the country’s first commercial-scale Battery Energy Storage System (BESS), part of a USD 50 million investment expected to transform the integration of renewable energy into the national grid.
The first shipment of battery units arrived at the Port of Colombo recently for the landmark Galle and Matara BESS projects being developed by Galilee BESS (Pvt) Ltd, a subsidiary of KHEN Energy Limited. The projects are expected to play a pivotal role in enhancing grid stability, reducing renewable energy curtailment and strengthening the country’s energy security.
The shipment comprised 25 containers, including 18 battery units weighing 42 metric tonnes each, making it one of the largest and most technically demanding renewable energy cargo movements handled in Sri Lanka to date.
Energy industry officials describe the project as a milestone investment that will help bridge one of the biggest challenges facing renewable energy development—storing electricity generated from intermittent sources such as solar and wind power for use when demand peaks.
Once operational, the BESS facilities will support the National System Operator by absorbing excess renewable energy during periods of high generation and releasing it when required, thereby improving efficiency and reliability across the power network.
The technology is being supplied by global energy storage leader Sungrow Power Supply Co., Ltd., reflecting growing international confidence in Sri Lanka’s renewable energy sector and its long-term clean energy ambitions.
Beyond its energy significance, the project also highlights the increasing scale and sophistication of infrastructure investments entering the country.
Expolanka Freight (Pvt) Ltd was entrusted with the end-to-end logistics operation, overseeing customs clearance, specialised transportation, storage, unloading and final placement of the battery units at the project sites.
Finance and Project Director Fazul Ansar said the operation required extensive engineering studies, route assessments and rigorous safety planning owing to the hazardous classification and extraordinary weight of the cargo.
Head of Project Logistics Mohamed Niyas said months of preparation had gone into route surveys, lifting studies and risk mitigation planning to ensure the successful execution of the project.
Project officials said specialised multi-axle trailers and cranes with lifting capacities ranging from 100 to 150 tonnes were deployed for the operation, while access modifications and last-mile transport solutions were implemented at both project locations.
By Ifham Nizam
Business
AI and Data Analytics Summit 2026 drives the nation’s digital future
The AI and Data Analytics Summit 2026 organised by the Sri Lanka Section of BCS, the Chartered Institute for IT was successfully held on 22nd May 2026 at Waters Edge, Colombo. The high-impact summit themed “Next Generation AI & Data Analytics: Skills & Thoughts for the Intelligent Future” brought together senior policymakers, global technology experts, industry leaders, academics, and innovators to explore how Artificial Intelligence (AI) and Data Analytics are reshaping the nation’s digital and economic future.
The event, endorsed by the Ministry of Digital Economy, was graced by Waruna Sri Dhanapala, Secretary to the Ministry of Digital Economy, who attended as the Guest of Honour, underscoring the government’s strong commitment to advancing AI adoption, digital innovation, and data-driven governance in support of Sri Lanka’s broader public sector transformation agenda. Dr. Sadeep Jayasumana, Chief Scientist at Octave, delivered the keynote address on Generative AI, sharing insights into its transformative potential.
Speaking on the significance of the summit, Prof. Lasith Gunawardena, Chairman the Sri Lanka Section of BCS, the Chartered Institute for IT noted that Artificial Intelligence and Data Analytics have become present-day enablers of innovation, economic growth, and societal progress. He emphasized that the summit was guided by BCS’s purpose of Making IT Good for Society and by the national need to bring together thought leaders, practitioners, policymakers, and industry experts to foster collaboration, knowledge sharing, and the responsible adoption of transformative technologies, thereby strengthening Sri Lanka’s digital readiness and supporting a resilient, inclusive, and globally competitive digital economy.
Ransith Fernando, Chair of the summit mentioned ” This year’s summit brought together 21 speakers who shared valuable insights, ideas, and experiences. We heard inspiring success stories, gained practical knowledge from industry practitioners, and explored strategic perspectives from business leaders. These conversations highlighted both the opportunity and the responsibility before us. While innovation is accelerating globally, Sri Lanka must align policy, talent, and industry readiness to truly operationalize AI at scale and ensure an inclusive and sustainable digital transformation.”
Deshan Liyanage, Co-Chair of the AI and Data Analytics Summit 2026 commented that this year’s summit was a fully sold-out event, reflecting the growing national momentum around Artificial Intelligence and Data Analytics in Sri Lanka. He extended heartfelt gratitude to all participants who joined and contributed to the success of the summit, as well as to the sponsors whose support made the event possible. Special appreciation was conveyed to Sysco LABS as the Strategic Partner, Linear Six as the Bronze Partner, InTalent Asia as the Resource Partner, and Motivista as the Event Partner. He also acknowledged the valuable collaboration of industry associations including SLASSCOM, FITIS, and CSSL, whose partnership helped strengthen and elevate the initiative.
Business
Eswaran Brothers empowers women through a transformative leadership journey
As part of its commitment to advancing women’s empowerment and building a stronger leadership pipeline, Eswaran Brothers Exports (EB), a leading tea manufacturer in Sri Lanka, launched its flagship women’s leadership initiative, She Transforms, a customized six-month leadership development journey. Developed with award-winning leadership expert Senela Jayasuriya and supported by Value for Women, the programme forms a key pillar of the Company’s wider gender agenda focused on leadership capacity building, inclusion and long-term institutional change.
Women make up 44% of Eswaran Brothers’ workforce, yet only 23% held senior roles at the time of an initial gender diagnostic conducted with Value for Women and supported by FMO, the Dutch Development Finance Bank. The assessment found that despite their potential, many women faced unclear career pathways and limited structural support at critical life stages.
In response, Eswaran Brothers introduced strategic mindset and policy interventions designed to remove barriers and create a more enabling environment for women to grow and lead. These efforts included mentorship opportunities, enhanced support for employees returning from maternity leave, coaching for managers, and initiatives aimed at strengthening inclusion and career progression across the organization.
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