Sanctus Properties (Pvt) Ltd recently marked the commencement of construction of Lume Residences, a planned fully furnished, state-of-the-art boutique-style residential development in Kandana, Ja-Ela, with an official groundbreaking ceremony. Once completed, the development is expected to combine the security and privacy of a gated community with contemporary architecture, abundant natural light, and integrated smart-home functionality. Designed with sustainability in mind, each residence is planned to meet 50-80% of its energy requirements through rooftop-generated green solar energy, integrated with the national grid through individual Battery Energy Storage Systems (BESS). Electrical systems, including lighting, air-conditioning, and garage roller doors, are also expected to be controlled through a smartphone-integrated mobile app. Lume Residences is positioned as the first development of its kind in the Gampaha district.

“Lume Residences has been thoughtfully designed as a private and exclusive community of eleven contemporary two-story boutique-style homes set within a green and serene environment. Our vision is to offer future residents a living experience defined by privacy, security, comfort, and practical modern convenience, with interiors and furnishings carefully selected to support everyday living,” said Primesh Hopwood, Director, Sanctus Properties (Pvt) Ltd.

“This is the very first such exclusive community residence project in Kandana,” he added.

Situated just 400 meters away from the Colombo-Negombo main road on St. Sebastian Church Road, Kandana, the project has received the requisite development approvals from the Urban Development Authority (UDA) and the Kandana Urban Council, enabling construction to proceed and laying the foundation for a streamlined home-ownership experience upon completion.

Beyond its focus on secure and modern living, Lume Residences is also expected to offer strong long-term investment potential for discerning homebuyers and investors seeking a future-ready address in a growing suburban location.

By Hiran H. Senewiratne

Investor confidence entered ‘negative terrain’ at the CSE yesterday due to external and internal factors, resulting in the All Share Price Index declining steeply, market analysts said.

Amid those developments both indices moved downward. The All Share Price Index went down by 184.5 points, while the S and P SL20 declined by 43.45 points. Turnover stood at Rs 1.15 billion with three crossings.

Those crossings were; LMF 750,000 shares crossed to the tune of Rs 62 million; its shares traded at Rs 83, Aitken Spence 300,000 shares crossed for Rs 40 million; its shares traded at Rs 134 and JKH two million shares crossed for Rs 36.4 million; its shares sold at Rs 18.20.

In the retail market companies that mainly contributed to the turnover were; LMF Rs 68 million (82000 shares traded), York Arcade Rs 47 million (6.9 million shares traded), JKH Rs 45 million (2.5 million shares traded), Lanka IOC Rs 41 million (325,000 shares traded), Colombo Dockyards Rs 34 million (303,000 shares traded), CCS Rs 33 million (282,000 shares traded) and Citrus Leisure Rs 29 million (6.9 million shares traded). During the day 79 million share volumes changed hands in 18441 transactions.

It is said that FMCG sector, especially LMF, led the market while the manufacturing sector, especially JKH, also performed well. Further hotel and leisure sector counters, especially Citrus Leisure and Aitken Spence, significantly performed.

Meanwhile, Softlogic Life Insurance said it plans to amalgamate its subsidiary, Softlogic Life Insurance Lanka Limited, with the parent entity.

The proposed transaction will see Softlogic Life Insurance Lanka Limited amalgamating with Softlogic Life Insurance , subject to the approval of the District Court of Colombo under Section 102(1) of the Regulation of Insurance Industry Act No. 43 of 2000 as amended.

Dinlanka Logistics (Pvt) Ltd said it purchased 20,000,000 shares of Ceylon Hotels Corporation PLC at Rs 30.00 per share on October 12. Following the transaction, Dinlanka Logistics holds an 11.11 percent stake in the issued share capital of the company.

Dipped Products said it commenced operations at its new Rs 4.2 billion manufacturing facility at the Katunayake Export Processing Zone on October 8.

Yesterday the buying rate of the dollar was Rs 326.45 and selling rate Rs 335.51.

By Hiran H. Senewiratne

Sri Lanka’s financial literacy rate is approximately 58 percent. Such literacy is absolutely necessary for the inclusion of people in the country’s financial system which in turn is central to overall economic development, Central Bank Governor Dr. Nandalal Weerasinghe said.

‘One needs to have knowledge and skills of a financial nature to figure in financial inclusiveness. While 86 percent of Sri Lanka’s population has access to the country’s financial system, 82 percent of the public has at least a savings account in the country’s banking system, Dr Weerasinghe said.

The Governor made these comments recently at the inauguration of Financial Literacy Month 2026 at the Central Bank’s Centre for Banking Studies, Rajagiriya.

Dr. Weerasinghe added: ‘Suitable, affordable and quality financial instruments are needed to enhance financial literacy in the country.

‘Financial information has to be accurate, risk-free and accountable, thus creating confidentiality in the financial system, which would enable the sector to reach greater heights’.

Meanwhile CBSL sources said: ‘The Literacy Month opened with the two-day ‘FinLit Expo Colombo’. The expo gives the public the opportunity to engage with institutions, better understand financial services, gain practical insights into managing their finances and learn how to protect themselves from financial fraud and scams.

‘The CBSL is leading the program in collaboration with stakeholder institutions. It forms part of the Financial Literacy Roadmap for Sri Lanka, which is implemented under the National Financial Inclusion Strategy (NFIS), the national framework for widening access to and use of formal financial services.

‘The Colombo event will be followed by six regional ‘FinLit Expos’ aimed at direct engagement with local communities. Partner institutions will also run awareness activities. Together, the events are intended to provide financial education to communities and encourage people to apply financial knowledge in everyday life.

‘A public awareness campaign on television, radio, newspapers and social media will extend the program’s reach. The program also includes digital financial literacy activities and the promotion of QR codes and other online payment methods.

‘The public and stakeholder institutions are encouraged to take part in the month’s activities under the theme, “Towards a Financially Literate Sri Lanka”.