Business

Royal Park Condominium celebrates 25 years of luxury living

Published

3 years ago

2022/10/2

Sri Lanka’s first luxury condominium complex, Royal Park condominium recently marked 25 years, a momentous milestone in providing luxury accommodation to a generation that grew up in sprawling multi-bedroom homes.

Built and developed by Keangnam Enterprises (previously Keangnam Korea) in 1997, the property consists of 248 luxury apartments housed within the condominium’s two towers, each comprising of 24 floors, complete with two penthouses in each tower. Approximately 1,500 workers were involved in the construction of the condominium, a news release from the developer said.

“Despite being one of Sri Lanka’s first true luxury, condominium developments, Royal Park’s construction proceeded at record pace for its time, having handed over its units to the community’s first residents just over three and a half years from commencement of construction.”

Sharing his experiences on the continuing legacy of Royal Park 25 years on, Keangnam (Ceylon), General Manager overlooking Royal Park at its inception, and a resident of the complex for almost 20 years, Major General (Rtd) Tilak Paranagama, emphasized the importance of mutual respect and camaraderie displayed by residents of Royal Park over the years.

“It’s been an absolute pleasure to live at Royal Park, as the common value system here is based on decency and respectfulness of each other. It is an extremely homely atmosphere, and the design and layout of the premises too lends itself to ensuring that residents have ample space for daily fellowship,” he said.

He also noted that with condominiums being a new concept to Sri Lankans in the mid-1990’s, the development of the complex also came with its share of novel challenges.

“As it was the first of its kind, we had to make sure that each unit was constructed perfectly. My team and I would personally look into every aspect from planning the construction, including preparation and initiation of survey plans, electrical and water meters for each individual apartment.

“I was also part of establishing Royal Park’s first ever Management Committee and together, we formulated a comprehensive constitution for it. 25 years later. I am incidentally the only surviving member of the original Management Council, but I’m happy to see that the systems, and most importantly the culture that we created back then still continues to thrive to this day,” he reminisced. Over time, Royal Park has been home to almost three generations, with children who moved in with their parents during the last 25 years, now residing with their own young families, contributing to the strong sense of family and community.

“I first moved into Royal Park when I was around nine years old, and I have since met people of all ages, races and nationalities – everywhere from Azerbaijan to Zimbabwe. Royal Park is definitely a paradise for any child growing up, as there is always a friend around to keep you company, and some of my closest friends are people I met here. Royal Park has always had a beautiful community – they are always down to have a good time, but most importantly they will always be there for you in your time of need,” added Tashiya Ekanayake (29), a current resident of the Condominium.

The complex is especially ideal for children of all ages who are presented with a very different experience from a typical high-rise, most often creating lifelong friendships with each other. The children’s play area comes alive every evening, kids riding bicycles on the path surrounding the beautiful gardens, teenagers playing basketball and residents joining each other for fellowship in the vast common areas, are all familiar sights at Royal Park.

Royal Park Condominium provides a truly holistic living experience, achieving that perfect balance in offering its residents a modern living space while retaining an extremely homely atmosphere. Spread across a sprawling four acres in the heart of Colombo, Royal Park boasts of beautiful manicured gardens; its tending being overlooked by a devoted resident.

Two large Ehela trees greet you at the entrance of the premises, with its long winding driveway leading to a large spacious sunlit lobby. Just beyond is a large ground floor pool and kiddies pool, bordered by a children’s play area, restaurant and sitting area, tennis court and jogging/ walking tracks.

The facility is also complete with all modern amenities, a well-equipped gym, sauna, squash court, table tennis court, a Cargills Express mini supermarket, salon, laundry, and an ATM just adjacent to the main entrance. In addition, the spacious apartments offer spectacular views of the Royal Colombo Golf club, the Kinda Canal Wetland which is home to remarkable birdlife, the Colombo skyline, the port and the ocean beyond, giving Royal Park a truly unique appeal. A competent resident-run Management Council overlooks all aspects of the management and maintenance of the premises, complete with monthly meetings and Annual General Meetings carried out with the participation of the Condominium Management Authority.

As such, regular maintenance upgrades, daily maintenance and attention to detail ensures that the complex remains pristine, safe and comfortable to all its residents. In maintaining these high standards of safety and quality of the common facilities, upgrades in the Service Elevators, Main Control Panels, fuel storage, submersible pumps, lobby and restaurant areas to name a few, were carried out during the last financial year only.

The management, safety and maintenance of the premises is handled by competent staff members consisting of the Condominium Manager Ms.Christine Hassim, Command Center Coordinator Mr. W A C Wanasinghe and Engineering and Maintenance Head, Mr. Indika Deshapriya, and their respective teams.The permanent staff at the complex consists of 29 dedicated team members, whilst 29 sub contractors’ staff diligently handle areas such as security, janitorial and accounts, many of whom have been employed at Royal Park for over a decade, adding familiarity and a sense of safety and comfort to the residents.Royal Park Condominium has truly stood the test of time, weathered many a storm, and celebrates this significant milestone triumphant in its ability to remain a home to many more generations to come. (Royal Park news release)

All News Advertisement

Business

Salesforce Startup Program targets Sri Lanka’s high-growth tech sector

Published

31 mins ago

2026/01/9

Thilina Walpola

Bhattacharya (L) and Madusanka at the launch

Salesforce, the world’s leading AI-powered CRM platform, is set to expand its presence in Sri Lanka with the launch of the Salesforce Startup Program by the end of January 2026, signalling growing confidence in the country’s technology-led growth potential.

The move comes as Sri Lanka consolidates its position as the second-largest startup ecosystem in South Asia after India, with software, data and artificial intelligence-driven ventures accounting for nearly 60 per cent of the national startup base.

Industry observers say this concentration places Sri Lanka at a decisive stage where global exposure and enterprise access could unlock the next phase of scale.

Under the programme, Sri Lankan startups will gain access to Salesforce’s global ecosystem, including AI-powered platforms, business and technical mentorship, joint go-to-market opportunities and connections to enterprise customers, enabling founders to build globally competitive solutions from Sri Lanka.

“Sri Lanka has developed a strong base of technical talent and entrepreneurial ambition that is increasingly visible regionally and globally,” said Arundhati Bhattacharya, President and CEO of Salesforce South Asia.

“Through the Salesforce Startup Program, we aim to help startups move beyond early momentum to global relevance while delivering long-term economic impact,” he added.

He also said the initiative builds on the success of its Startup Program in India and Singapore, which today supports over 435 startups, including more than 230 AI-first companies. Several participants have expanded across Asia and beyond by building products natively on the Salesforce platform.

Responding to queries, he said Sri Lanka is also emerging as an important enterprise market for Salesforce, with major corporates such as John Keells Holdings and Cinnamon Hotels adopting the platform to modernise customer engagement, sales, marketing and loyalty management operations.

In parallel, Salesforce is strengthening the country’s digital talent pipeline through its Trailhead learning ecosystem, with plans to skill nearly 1,000 learners over the next year via local workforce development partners and community-led cohorts.

Chamil Madusanka, Head of Salesforce Practice and Salesforce Architect, said the programme arrives at a critical juncture for Sri Lanka’s startup ecosystem.

“Sri Lankan founders are increasingly building AI, data and enterprise software solutions with global relevance,” Madusanka told The Island Financial Review.

“What many startups need is structured access to enterprise customers, global mentorship and market exposure. This initiative creates that bridge, enabling local companies to scale faster while remaining rooted in Sri Lanka.”

He said the Startup Program is designed to act as a connective platform, bringing together startups, enterprises, technology partners, universities and developer communities to accelerate collaboration and innovation.

By Ifham Nizam ✍️

Business

Good news on risen foreign reserves exerts buoyant impact on bourse

Published

41 mins ago

2026/01/9

Thilina Walpola

CSE activities were extremely bullish yesterday following Central Bank Governor Dr Nandalal Weerasinghe’s announcement that Sri Lanka’s foreign reserves had risen to US $ 6.8 billion in December 2025, up US$ 791 million from November 2025.

The Governor provided the estimated economic growth while announcing the Central Bank’s policy agenda for this year.

In December Sri Lanka received budget support loans from the Asian Development Bank and the International Monetary Fund.

Dr Nandalal Weerasinghe

Amid these developments both CSE indices moved upwards. The All Share Price Index went up by 226.81 points, while the S and P SL20 rose by 100.01 points. Turnover stood at Rs 12.3 billion with 12 crossings.

Top seven crossings that mainly contributed to the turnover were: Lee Hedges 18.2 million shares crossed to the tune of Rs 3.9 billion; its shares traded at Rs 416, Commercial Bank 2.1 million shares crossed for Rs 467.6 million; its shares traded at Rs 215, Ceylon Hotels 429,000 shares crossed for Rs 128.7 million; its shares traded at Rs 300, LB Finance 650,000 shares crossed for Rs 105 million; its shares sold at Rs 152.50, Ceylinco Holdings 31000 shares crossed for Rs 104.5 million; its shares traded at Rs 3400, Melstacorp 200,000 shares crossed tfor Rs 35.7 million; its shares sold at Rs 178.50 and Three Acres Farm 400,000 shares crossed to the tune of Rs 29.6 million; its shares fetched Rs 740.

In the retail market top seven companies that mainly contributed to the turnover were; Wealth Trust Securities Rs 1.17 billion (55.8 million shares traded), Commercial Bank Rs 509 million (2.4 million shares traded), HNB Rs 370 million (870,000 shares traded), ACL Cables Rs 303 million (three million shares traded), Prime Lands Residencies Rs 283 million (7.9 million shares traded), Lanka Realty Rs 227.5 million (4.7 million shares traded) and HNB Rs 218 million (332,000 shares traded). During the day 223.7 million share volumes changed hands in 55116 transactions.

Yesterday, investor interest in Wealth Trust and banking stocks led to higher activity levels, brokers said. Further, the real estate sector also performed well. Lanka Realty Investments PLC acquired 51 percent of the total number of shares in issue of Lee Hedges, CSE sources said. 13,057,595 ordinary voting shares were bought at Rs 216 each.

Yesterday the rupee opened at Rs 310.12/18 to the US dollar in the spot market, weaker from Rs 310.05/15 the previous day, dealers said, while bond yields opened marginally high.

By Hiran H Senewiratne ✍️

Business

Launch of monograph ‘Development: Not By Economics Alone’

Published

41 mins ago

2026/01/9

Thilina Walpola

The Gamani Corea Foundation (GCF) is pleased to announce the launch of the monograph Development: Not By Economics Alone by Dr. Nimal Sanderatne, Emeritus Chairperson of the Foundation. The foreword to the publication has been written by Dr. Godfrey Gunatilleke, one of Sri Lanka’s most eminent development economists. The launch ceremony will be held on Friday, 9th January 2026, at 4.00 p.m. at the Horton Lodge.

In this monograph, Dr. Sanderatne argues that development cannot be understood through economic indicators alone. He emphasizes that the quality of human capital depends not only on knowledge and skills acquired through formal education, but also on deeper, non-formal processes embedded in a society’s culture and value systems. These influence human behaviour, shaping work ethics, attitudes to work and leisure, capacity for teamwork, preferences between short- and long-term goals, and patterns of saving and consumption.

Dr. Sanderatne is a distinguished economist and academic, holding degrees from the Universities of London, Saskatchewan, and Wisconsin, and was conferred the Doctor of Science (Honoris Causa) by the University of Peradeniya in 2004.