Nadeem Shums – Head of Sales, John Keells Properties, Roshanie Jayasundera-Moraes – Chief Marketing Officer, John Keells Properties, Nayana Mawilmada – Sector Head, John Keells Properties, Rushanka Silva – Chairman, Braybrooke Residential Towers, S. Renganathan -Managing Director/ Chief Executive Officer, Commercial Bank, Sanath Manatunge- Chief Operating Officer, Commercial Bank, Hasrath Munasinghe – Deputy General Manager-Marketing , Commercial Bank, Dushmantha Jayasuriya – Senior Manager-Retail Products Dept, Commercial Bank
In a first for Sri Lanka, John Keells Properties (JKP) -through a strategic collaboration with Commercial Bank-has launched ‘Freedom Mortgages’, a new home financing solution which waives the interest on home loans for TRI-ZEN buyers for a period of two years, while also allowing minimal cash outlays during the construction period, JKP and ComBank said in a news release.
“This innovative financing instrument, available exclusively for customers of John Keells Properties, puts housing in the heart of Colombo within reach for aspiring homeowners,” it said. “Through this tie-up, those interested in investing in property can now avail of this landmark mortgage plan tailored exclusively for TRI-ZEN, the JKP smart-home concept development located at the heart of Colombo 02.”
It said potential homeowners will benefit considerably, with just a minimal down payment and no interest payments for two years. Additionally, buyers can also choose from a suite of mortgage packages with attractive interest rates starting from just 8.75% per annum, where the interest rates can be fixed for a five to twenty-year period.
With this new scheme, John Keells Properties continues to provide innovative customer friendly solutions, the release said.
“We are extremely excited to launch this landmark new product to the market,” said Nayana Mawilmada, Sector Head, Property Group, John Keells Holdings, of the new scheme. “This novel plan will give homeowners the opportunity to purchase a TRI-ZEN apartment without the burden of having to pay the interest on its mortgage for a period of two years during the construction period of the project.”
As the largest and most awarded bank in Sri Lanka, Commercial Bank has always set the bar high, as it does with its unmatched mortgage rate offering as well: a five-year fixed rate at 8.75%, and a ten-year fixed rate starting from 9.00%.
“We are pleased to partner with John Keells Properties to facilitate this pioneering plan, as we align in our understanding of the flexibility buyers look for when it comes to their home loan facility,” said Mr. S. Renganathan, Managing Director of Commercial Bank. “Commercial Bank has always been dedicated to helping investors and end-users find and secure the best, most suitable home financing solutions, tailored to their individual requirements.”
The one, two, and three-bedroomed apartment units at TRI-ZEN, the 53-storey development is a joint venture between Indra Traders (Pvt) Ltd and John Keells Holdings PLC. When complete in 2023, the development will have a total of 891 ‘smart home’ units, each tastefully designed and equipped with a suite of key amenities. With its enviable address, competitive price tag -starting at Rs 26 million-, and the range of conveniences and facilities afforded exclusively to its resident community, TRI-ZEN is slated to be the most anticipated property and living experience for urbanites looking to set up their dream home.
The first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 10 years consecutively, Commercial Bank is celebrating its 100th anniversary this year. The bank, which won more than 50 international and local awards in 2019, operates a network of 268 branches and 865 ATMs in Sri Lanka.
Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay Pyi Taw; and the Maldives, where the bank has a fully-fledged Tier I Bank with a majority stake.
(For further information John Keells Properties can be reached on +94702294294 or www.trizen.lk.)
LOLC Al-Falaah unveils pioneering Wadi’ah Gold-Storage Facility with multiple customer benefits
Sri Lanka’s most awarded and trusted Alternate Financial services brand, LOLC Al-Falaah recently unveiled their ground-breaking new product – the Wadi’ah Gold Loan Facility. This is the 1st time a Finance company in Sri Lanka is offering this facility. Al-Falaah Wadi’ah is a unique gold storage option offered to Al-Falaah’s valued customer base. All gold articles are tested for quality and authenticity using state-of-the art equipment by the company’s experienced staff without causing any damage to the jewellery. A unique ‘Gold Storage Certificate’ with the description of articles, including weight, quality and quantity along with the market value will be issued to the customer when obtaining this facility.
Speaking about the new product, Mr. Shiraz Refai, Deputy General Manager of LOLC Al-Falaah said, “Gold is a favourite investment option at all levels within the concentrated community. The metal is usually pawned, sold or exchanged when in need of cash. As the conventional Pawning options and Gold Loan offering has limitations to cater to the specific needs, as well as contradict with certain beliefs of the community, a concept acceptable and practiced in the industry is introduced by LOLC’s Alternate Financial Services Unit to its valued customer segment”.
Accordingly, a unique feature has been introduced to the Al-Falaah Wadi’ah Gold Storage facility offering the Customer the benefit of obtaining an interest-free maximum Cash-Advance in the industry at zero mark-up against the gold storage certificate value for any emergencies. In addition, for the convenience of the customers, the Gold storage facility period is extended from 3, 6 and 12 months without any requirement for a deposit and the custodial fees are comparatively competitive. The stored gold articles will also be offered a free Takaful cover with a reassurance of highest safety and security.
The Al-Falaah Wadi’ah gold storage facility will be initially available at selected branches including Wellawatta, Akkaraipattu, Kalmunai, Pottuvil, Grandpass, Maradana, Mawanella, Matara, Nawalapitiya and Negombo. Al-Falaah aims to make the facility available across all LOLC Finance branches and dedicated Al-Falaah centers island-wide by the end of the 1st quarter of 2021.
Commenting on the new Al-Falaah Wadi’ah Gold loan facility, Nishantha Jayasekera, Chief Manager, SME Unit & Head of Gold Loan Business of LOLC Finance said, “The main aim of this facility is to give financial-access to the grass-root level clients who do not have direct access to banking & finance, but require small cash advances to develop daily businesses and self-employment. Through this product and its value added features, we hope to cover all segments of the population”.
LANKATILES donates high-end ventilator to Colombo North Teaching Hospital
A Rs. 4.3 million ventilator has been donated to the Coronary Care Unit of the Colombo North Teaching Hospital, Ragama, by LANKATILES, the country’s leading tile manufacturer.
The machine was described as a high-end, world-class piece of equipment suitable for all patient groups.
Present at the official hand-over were Mr Mahendra Jayasekera, Managing Director of Lanka Walltiles PLC and Lanka Tiles PLC, Dr. S. P. A. Liyanage Ranaweera, Director of Colombo North Teaching Hospital, and Dr. Sanjeewa Rajapakse, Consultant Cardiologist of the hospital.
At a time when state-of-the-art equipment is urgently needed to contain the COVID-19 pandemic, LANKATILES reaffirmed its commitment to help frontline hospital staff in their efforts at reducing the spread of the virus and easing patient numbers.
The company said this was a commitment it is ready to stand by at all times in the interests of the country.
Sampath Bank hosts Central Bank’s ‘MatarataQR’ event to promote QR code use
Matara, April 3rd, 2021: Sampath Bank PLC recently hosted the Central Bank of Sri Lanka’s (CBSL) MatarataQR event, in a bid to drive awareness and increase acceptance and usage of LANKAQR, the common Quick Response (QR) code standard for the country that was introduced in 2020.
Encouraging consumers to adopt the use of QR codes in their day-to-day transactions, the event was held at the Sanath Jayasuriya Grounds in Matara under the patronage of the Chief Guest, Dullas Alahapperuma, Minister of Power and Guest of Honour, D. Kumaratunga, Director – Payments and Settlements, Central Bank of Sri Lanka; along with senior officials from the CBSL, other commercial banks and financial institutions. Sampath Bank was represented by Nanda Fernando – Managing Director; Tharaka Ranwala – Senior DGM – Operations / Group Chief Marketing Officer and Ajith Salgado – Group Chief Information Officer.
At the event, the Bank actively promoted its ‘WePay’ mobile wallet which helped attract more customers while also onboarding new merchants. A 25% cash back was on offer for payments at over 200 merchants in Matara on the day, made via the LANKAQR enabled WePay digital mobile payment app.
“We are very proud to partner with the Central Bank to host this event that will highlight the safety, convenience and speed of getting onboard the LANKAQR payment standard to the people of Matara. These benefits, coupled with the advanced digital banking solutions offered by Sampath Bank, make it a simple choice to migrate to digital payment technology and we warmly invite the merchants in Matara to come experience the benefits of adopting this new method of payments,” said Nanda Fernando, Managing Director, Sampath Bank PLC.
Sampath Bank is a 100% local bank that has deeply rooted itself in the lives of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. It has introduced many firsts to the Sri Lankan banking sector including introducing ATMs to Sri Lanka, extended banking hours and slip-less banking to name a few. The Bank is steadily transforming itself into a ‘tech company engaged in banking,’ from the traditional approach of a bank engaged in technology.
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