Business
Iconic Developments and NDB announce exclusive partnership
Iconic Developments recently signed a Memorandum of Understanding (MoU) with leading bank NDB to widen the scope of financing options for prospective homeowners of the latest luxury living space, the “Iconic Galaxy” on Buthgamuwa Road, Rajagiriya.
The multi-faceted partnership is set to offer homeowners special discounts and flexible repayment options, inclusive of special benefits for professionals. At the same time, NDB staff members will also be trained to guide prospective homeowners. The MoU for the partnership was signed at NDB Head Office, Nawam Mawatha, Colombo 02 in the presence of high ranking members of the corporate team from Iconic Developments and NDB.
“The COVID-19 pandemic has shown us the importance of creating a home which is self-contained and self-sufficient to ensure peace of mind during such stressful times. Even though the Iconic Galaxy was not created with a pandemic in mind we are delighted to say the wide range of amenities we have put in place and the facilities available have proven to be ideal in catering to the comforts of prospective homeowners at a time in which their needs are evolving.
Additionally, the rising cost of real estate in Sri Lanka has made it difficult for many to invest in the home of their dreams and we hope that this partnership will offer many future residents of the “Iconic Galaxy” a convenient path to owning their dream home. Concurrently, we are also delighted to share our first-hand knowledge of the industry with NDB,” Iconic Developments (Pvt) Ltd., Managing Director, Rohan Parikh said.
Prospective homeowners will have access to special home loan schemes from NDB, complete with flexible repayment options of 20 years upto the retirement age, customised to their income patterns. Additionally, professionals are entitled to a special discount of 5% when purchasing a home at the Iconic Galaxy.
“We are delighted to be working with Iconic Developments to offer our home loan customers the opportunity to invest in luxury, self-contained living spaces in the suburbs of Colombo,” Zeyan Hameed, Assistant Vice President (Personal Financial Solutions & Card Centre) of the NDB said.
Business
Teejay reforesting continues strong momentum with WNPS PLANT
Teejay Lanka PLC, in collaboration with the Wildlife and Nature Protection Society (WNPS) through its PLANT initiative, continues to drive a significant ecological restoration project along the Maskeli Oya in Sri Lanka. This effort, part of Teejay’s ‘Abhivarah 2030’ sustainability road map, focuses on reforesting degraded areas to create a 9km forest corridor, restoring the riparian ecosystem and enhancing biodiversity. With 2,650 native trees already planted, the project also generates valuable carbon credits while addressing environmental challenges through community-driven efforts and scientific monitoring, highlighting the role of the private sector in advancing sustainable land management practices.
Teams from Teejay Lanka PLC and the WNPS PLANT teams recently engaged in an inspection and replanting visit to the Gouravilla Estate of the Horana Plantations Group, who are part of Hayleys Plantations. The teams added 300 new plants to the location that day and reviewed the progress of the efforts.
“The overarching goal of this project by WNPS PLANT (www.plantsl.org) in partnership with Horana Plantations, is to establish a nine-km forest corridor along the Maskeli Oya, enhancing habitat connectivity across the estate lands. Five estates are covered within this corridor, including the Gouravilla segment, and the banks of the Oya will be reforested with native trees sourced from selected nurseries,” a news release connected with the initiative said.
“The reforestation is community-driven, with community people employed to carry out planting and maintenance activities. Despite the challenges posed by extreme weather conditions and pest attacks, over 2,650 trees have already been planted in the Gouravilla segment alone in less than a year. To protect young saplings from herbivory, plant guards have been installed, and regular watering during dry spells ensures their survival. Our field team conducts routine monitoring to assess the health and progress of the planted trees, ensuring that the reforestation efforts are on track.”
The release explained this project is dedicated to restoring the riparian ecosystem along the Maskeli Oya, an important tributary of the Kelani River, originating from the Peak Wilderness Nature Reserve. The initiative aims to improve the environmental conditions supporting the health of Kelani valley basin which is a key focus area for Teejay. These objectives are achieved by improving the riparian forest ecosystem by planting native montane forest species suited to the unique geoclimatic conditions of the Upcot Valley. A rapid biodiversity assessment across the entire project site revealed the presence of 70 flowering plant species and 99 faunal species, encompassing mammals, birds, reptiles, amphibians, and more.
The flora selected for the restoration are all native species, carefully chosen to ensure ecological compatibility and success. Among these are species such as Gal Weralu (Elaeocarpus subvillosus), Thel Keena (Calophyllum tomentosum), Thiththa Weralu (Elaeocarpus montanus), Kenda (Macaranga indica), Kudu Dawula (Neolitsea fuscata).
“The Gouravilla segment sponsored by Teejay Lanka PLC, is a vital area for the preservation of this region’s unique biodiversity. This broader site is home to an array of wildlife, including records of Day geckos (Cnemaspis samanalensis and Cnemaspis upendrai) from outside of their known range, two endemic fresh water fish species including one Critically Endangered (Devario monticola) and one a Near Threatened (Garra ceylonensis)” the release said.
“The record of Devario monticola in Maskeli Oya is very important because it was recorded only from the Agra Oya river basin in the country. The record of the Spotless grass yellow is another important finding of this study as it has not been recorded around Maskeliya previously. These underscore the importance of this project in protecting the island’s rich biodiversity through the restoration of the degraded ecosystems along the Maskeli Oya”.
It added that progress is not easy as these plants are majorly threatened by human activity including the cutting of new saplings along with the high grass, and due to herbivore presence. Montane plants are also extremely slow growing and various added measures will be needed to complement these efforts.
This two-year project is a significant element of Teejay’s ‘Abhivarah 2030’ sustainability road map and generates valuable carbon credits, while helping restore one of the country’s most scenic natural habitats to its pristine state. Teejay is also focused on initiatives to improve the environment in and around the Kelani River and its related ecosystems, and this project is an extension of that commitment.
“This project is not merely about planting trees; it is a scientifically driven ecological restoration effort. By carefully monitoring and nurturing these plants, the project aims to restore and expand the forested areas, creating a thriving habitat that supports a diverse array of species. This initiative by the WNPS and PLANT teams and their partners exemplifies the role that Private Sector can play to reversing ecological degradation and promote sustainable land management practices in Sri Lanka,” the release concluded.
Business
Eastern region poised for tourism boom, says expert Pasan Wijewardana
The Eastern region of Sri Lanka is ripe for a tourism renaissance, according to Pasan Wijewardana, Cluster Director of Sales and Marketing for Sun Siyam Pasikudah and Sun Siyam Iru Fushi. In a brief interview with the Sunday Island, Wijewardana emphasized the vast untapped potential of the East, highlighting its stunning beaches, rich cultural heritage, and diverse biodiversity.
While areas like the South and Hill Country have long dominated the tourism spotlight, Wijewardana believes that with increased investment and awareness, the East can emerge as a premier destination for both local and international travellers. “The East is not just a seasonal getaway; it offers year-round attractions that are often overlooked,” he explained.
The region’s pristine beaches, coupled with its historical sites and cultural experiences, provide a compelling case for extended travel options. Wijewardana noted that the East can be seamlessly integrated into Sri Lanka’s broader tourism strategy, particularly as a complement to the Cultural Triangle. “By promoting round trips that include cultural experiences alongside beach relaxation, we can diversify the overall tourism offering,” he stated.
The global tourism landscape is shifting towards more personalized, experiential, and sustainable travel options, especially in a post-pandemic world. Travellers are increasingly seeking unique experiences that connect them with nature and local culture. In this evolving context, Wijewardana sees Sri Lanka’s diversity—from heritage sites to nature reserves—as a key strength that can be leveraged to attract a wider audience.
“Destinations that can offer safety, flexibility, and authenticity will stand out,” he emphasized, pointing to the resilience of Sri Lanka’s tourism industry amid recent challenges. The country is gradually recovering and making strides to attract a variety of travellers, including eco-tourists, wellness seekers, and experiential travelers.
Wijewardana also highlighted the importance of positioning Sri Lanka as a safe and unique destination. “We can learn from our neighbors, like the Maldives, which has successfully carved out a niche in luxury tourism by offering exclusive, personalized experiences,” he remarked. “Sri Lanka has its own rich offerings that can appeal to discerning travelers, particularly if we focus on luxury experiences that integrate wellness and cultural immersion.”
The potential for multi-destination packages combining Sri Lanka and the Maldives presents an exciting opportunity for growth. “Imagine travellers enjoying a cultural adventure in Sri Lanka, followed by relaxation in the Maldives,” Wijewardana suggested. “This holistic travel experience could attract long-haul tourists looking for something beyond the ordinary.”
Sun Siyam Pasikudah aims to be at the forefront of this tourism shift, offering guests a tranquil, immersive experience that blends luxury with local culture. “Our property not only supports the local economy but also focuses on sustainable practices that preserve the environment,” he said. “As more tourists discover the beauty of the Eastern region, we hope to see it thrive, becoming a key player in Sri Lanka’s tourism landscape.”
With a career spanning various regions and prestigious properties, Wijewardana is passionate about creating memorable guest experiences and fostering partnerships that enhance tourism. “My aspiration is to showcase the best of Sri Lanka and the Maldives to the world,” he concluded. “By promoting our unique offerings and committing to sustainable tourism, we can elevate Sri Lanka’s tourism industry to its full potential.”
As Sri Lanka continues to recover and reposition itself in the global tourism market, experts like Wijewardana are optimistic about the Eastern region’s bright future as a leading travel destination.
Business
Aviyana becomes main sponsor of Sri Lanka Trade Fair Dubai 2024
Aviyana, Sri Lanka’s first 7-star hotel, is the main sponsor for the Sri Lanka Trade Fair Dubai 2024, set for November 2-3 at the Crown Plaza in Dubai. The event aims to connect Sri Lankan exporters with Gulf buyers, showcasing products across industries like gems, spices, tea, and textiles. Aviyana’s sponsorship reflects its commitment to promoting both luxury tourism and Sri Lanka’s broader business potential. The hotel, known for its luxury and world-class service, sees this collaboration as part of its efforts to position Sri Lanka as a hub for international trade and tourism.
-
News7 days ago
AKD’s party has already snatched 2/3rd of 160 electorates -Zuhair
-
News6 days ago
PMD reveals sheer number of vehicles used by RW’s aides
-
News6 days ago
EC shoots down AKD’s enhanced subsidies in view of 14 Nov. polls
-
Opinion6 days ago
Golden Memories in a Golden Jubilee celebration
-
Features6 days ago
‘Ballard of the Warriors’
-
News4 days ago
Australian High Commissioner meets President Dissanayake
-
Features6 days ago
Old Wines in New Democracies:Education in the making
-
Latest News3 days ago
“Ensure the continuity of the public service without disruption” – President