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Prime Group offers ‘ultimate’ real estate investment plan

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In a concerted effort to open up its exceptional and diverse housing portfolio to a larger portion of Sri Lankans, the country’s largest property development conglomerate, Prime Group recently introduced a revolutionary payment plan, currently unmatched by any other in the industry. The highly-attractive, industry-first offering assures peace of mind for customers by delivering financial flexibility and empowering them to own their dream home at their convenience.The incomparable scheme opens doors for customers to pay as little as 20% of the housing unit’s total value as a down payment, 25% paid in easy instalments over 30 months and the balance 55% when their new home is handed over to them. All Investors can also enjoy guaranteed capital gain and effective ROI of over 75% during 2.5 years for their initial investment. Further, it allows customers to access non-accessible investments and take advantage of a pre-approved mortgage within 30 months. The easy to grasp scheme was carefully curated by Prime Group with over 26 years of enriched experience in the property sector to enable a larger proportion of financially diverse customers to make a smart, well informed decision with utter convenience to make their dream home a reality. The company’s new offering is first introduced to families and individuals looking to put down roots in the scenic, lush green environs present at 88 Residence Piliyandala, Kahathuduwa, which is now open for reservations.”Prime Group has always been deeply committed to delivering projects that meet the needs of the market and flexible financing is one way we achieve this. Therefore, we are thrilled to launch this exceptional ‘Ultimate Real Estate Investment Plan’ for the first time in Sri Lanka. The bedrock of offering is to enable Sri Lankans to materialise their dream home, without worrying about paying the current required down payment of over 30% upfront, which is a welcome respite during these tough economic conditions,” said Prime Group Chairman Premalal Brahmanage”It should also be mentioned that the salary levels of many Sri Lankans do not often allow them to pay off the rest of the 60% within just 2.5 years.  We wanted to address this concern, by enabling our customers to pay off just 25% of the value of the property within 2.5 years to making these homes more affordable. This means only 45% of the total value has to be paid at the hand over point. For the balance of 55%, customers are able to pay utilising a bank loan which can also be arranged by Prime Group. Most importantly, customers can always purchase these homes as an investment and sell it after 2.5 years with a minimum effective return on investment of 75%. Therefore, we are confident that this unique scheme will open our high quality portfolio of wholesome living spaces open to a broader community of customers, along with the opportunity to proactively manage their finances, in a long-term affordable way.”The 88 Residence Kahathuduwa is a tranquil, luxury living community overlooking an evergreen paddy field in Piliyandala, 500m away from the proposed Ruwanpura Highway, and 2 km from the Kahathuduwa highway entrance as well as 900m to the 120 bus route. The complex hosts a collection of four diverse types of 88 spacious, two- to three-bedroom, one- to two-storey homes prices starting from Rs. 14.5 million, this luxury complex is slated for completion in early 2024. “As the premier real estate developer in the country, it is vital that we play our part in making sure we do all we can to support our customers at a time when there is an increase in demand for affordable housing in prime locations across the island.



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President outlines a bold vision for Sri Lanka tourism at THASL’s 58th AGM

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Addressing the 58th Annual General Meeting of The Hotels Association of Sri Lanka (THASL) held on Monday (27) at Shangri-La Hotel, Colombo, President Ranil Wickremesinghe outlined a comprehensive strategy to propel the country’s tourism sector to new heights. Focused on surpassing the target of 5 million tourists and redefining traditional approaches, the President’s vision extends to achieving 7.5 million visitors in the coming years. The President emphasized the need for innovative thinking and collaboration within the industry to ensure sustainable growth.

“When I took over the government, I realized that sustainability alone is not sufficient. How are we going to earn foreign exchange? How are we going to have a positive balance of trade? In that, there were many suggestions. But what is the low-hanging fruit? And one of the low-hanging fruits was tourism. Let’s promote tourism fully,” President Wickremesinghe declared.

The President acknowledged the need to move beyond the existing framework and embrace competition to elevate Sri Lanka’s standing in the global tourism market. Drawing parallels with countries like Vietnam, he questioned why they had more tourists despite being in the industry for a shorter period. President Wickremesinghe stressed the importance of increasing the number of tourists to 2.5 million in the upcoming year and subsequently expanding on this figure.

(PMD)

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Free visas for nationals of China, India, Indonesia, Russsia, Thailand, Malaysia and Japan from Monday (27)

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The Controller General of Immigration and Emigration has stated that nationals of China, India, Indonesia, Russsia, Thailand, Malaysia and Japan will be granted free visas from Monday 27-11-2023 to 31-03-2024 as a pilot program to rebuild the tourism industry.

Nationals of the above nominated countries possessing, Diplomatic, Official, Public Affairs, Services and Ordinary Passports are eligible to enjoy a visa free regime under this scheme.

The above mentioned nationals should apply for Electronic Travel Authorization (ETA) before arriving in Sri Lanka subject to granting / issuing free of charge up to 31-03-2024.

Under this scheme tourists can enjoy a 30 days free visa period and a double entry facility is permitted within 30 days from the date of first arrival in Sri Lanka.

Free ETA under this scheme can be applied up to 31-03-2024.

The free ETA cannot be extended further and is limited only to thirty (30) days. In case the free ETA period of 30 days expires after 31-03-2024, an extension of visa could be applied subject to paying the appropriate fee.

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Sri Lanka and Saudi Arabia prioritize economic ties in apparel and tourism sectors

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The Minister of Economy and Planning for the Kingdom of Saudi Arabia. Faisal F. Alibrahim, met with President Ranil Wickremesinghe on Monday (27) at the Presidential Secretariat.

During the discussions, Minister Faisal F. Alibrahim emphasized Saudi Arabia’s keen interest in strengthening economic ties with Sri Lanka across various sectors, including apparels and tourism. He elucidated that his government was focused on expanding economic relations within the region and regarded Sri Lanka with significant importance.

President Ranil Wickremesinghe welcomed the Minister’s comments, asserting that Sri Lanka is actively promoting enhanced cooperation in Asia, including West Asia. He further highlighted that the tourism and agriculture sectors were areas open to greater investment, as the country is committed to modernizing these domains.

(PMD)

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