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Top real estate developers identified in new RIU brand heath survey

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Research Intelligence Unit (RIU)

This year’s RIU survey delved deeper than brand surveys of the past by looking into multifarious factors that included brand awareness, brand perception, brand visibility, brand attributes and top of the mind recall. Home Lands, Prime Lands, Kelsey Homes, JAT, Blue Ocean, Span and Fairway were found to be the top seven most popular developers in 2021. The findings give some victories to all seven of the top players with the top two battling for gold..

During the course of 2021, the Research Intelligence Unit (RIU) conducted a large-scale survey covering many hundreds of property buyers and investors in order to identify the top developer brands in Sri Lanka and to highlight the brand dynamics thereof. The survey covered residents of Colombo, non-Colombo residents as well as the diaspora community. The findings provide a unique insight into how buyers think and how this impacts their investment decision making. From a developer perspective, the survey has identified the top seven players in the market with each of these claiming one or more victories. However, it is Home Lands and Prime Lands that are battling for the top spot.

The Home Lands Group had the highest percentage of respondents that indicated the brand as their ‘first preference’ whilst Prime Lands Group took the top spot of the overall rankings, followed by Home Lands, based on the survey results which included local and Sri Lanka diaspora investors / property buyers.

 

Locals and Sri Lankan diaspora

When isolating locals from the Sri Lankan diaspora, Prime Lands remains on top, followed by Home Lands. However, amongst the diaspora, Blue Ocean was ranked highest, followed by Span.

Respondents were also asked to rate (positive or negative) based on word of mouth with the developers. Here, Home Lands, with a 57% ‘positive’ result, was the only developer that had a client base with predominantly positive word of mouth.

In accordance with the survey findings, a large number of respondents stated that they had a very favorable past experience with JAT Holdings accompanied by Span Engineering and Fairway Holdings.

Top developers were also assessed in the survey in regards to brand perception: affordability, convenience, luxury, style/elegance, trust and value for money. The results highlighted the locals reckoned properties of Home Lands to be supreme in terms of luxuriousness and the diaspora acclaimed those properties to provide a better value for money.

 

Brand perception

The survey also revealed how respondents associated brands with the following attributes; brand, convenience, discounts, price, quality and time delivery. In regards to the ‘brand’ factor, Home Lands had the best result, while Prime Lands topped the list in terms of ‘convenience’ and ‘quality’. Blue Ocean, albeit marginally, is placed atop in regards to ‘price’, while Span is seen to provide the most ‘discounts’. Fairway tied with Span for top spot in terms of ‘timely delivery’.

The analysis shows significant differences between brand awareness and perception levels of diaspora and locals as well as residents from Colombo as against those who live outside the Colombo district. Similarly, there are differences between those who work in the private sector as compared to those in the public sector and those that use private as compared to public transport as well as differences by age groups.

The RIU survey also finds that the buyer information source landscape has changed completely in recent years. Now, social media’s influence in the real estate market dominates all other mediums and is highlighted in the survey. It was shown to provide the highest reach compared to other modes such as TV, radio, print media etc. This underlines the important function that social media plays in the current context for diverse forms of business communication.

The Research Intelligence Unit (RIU) has just completed 18 years of service in Sri Lanka with a track record of providing advisory services to most the top developers in the island and the Asia region. Headquartered in London, the RIU also have offices in the Maldives and Dhaka, Bangladesh.

For more information about the RIU and the Real Estate Market Annual Report 2021, contact info@riunit.com.



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Priority areas for deepening Japan-SL economic ties

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Executive Committee for the Year 2026/2027

Japan Business Council (SLJBC) of The Ceylon Chamber of Commerce recently held its 47th AGM, with the Ambassador of Japan and the Patron of the Council, Akio ISOMATA, attending as the Chief Guest.

Addressing the gathering, Ambassador ISOMATA outlined three priorities for deepening bilateral economic relations: an effective and forward-looking trade and investment policy, the promotion of domestic industrial policy, and expanded investment in renewable energy. He noted that Sri Lanka’s ongoing review of its Free Trade Agreement policy would be important in shaping the country’s future negotiating landscape. He encouraged Sri Lanka to look Eastward toward Southeast Asia and Japan, proposing that the country adopt an export-oriented industrial model. The Ambassador welcomed the Government’s National Export Development Plan 2026 and National Mineral Policy 2026 as consistent with Japan’s vision of connecting Sri Lanka’s export-related manufacturing sectors with India’s high-growth manufacturing base.

In his address, President Athulla R F Edirisinghe reflected on nearly seven decades of humanitarian and development support extended by Japan to Sri Lanka, and paid tribute to the Chairman of the Sasakawa Peace Foundation Yohei Sasakawa, for his magnanimity in establishing the Foundation. Reflecting on the history of Japanese investment in the region from the 1970s onward, he observed that Sri Lanka had missed many opportunities to attract Japanese foreign direct investment. Highlighting the 2025 proposal for a Sri Lanka – Japan Economic Corridor by the Ministry of Economy, Trade, and Industry Japan, he called on Sri Lankan businesses, industry associations, and the wider community to come together in dialogue with the Government to ensure the country does not miss this opportunity as well.

2026/27 Committee: President: Athulla R F Edirisinghe – Director, Hirohama Ceylon (Pvt) Ltd, Senior Vice President – Ruwan Waidyaratne – Managing Director, Hayleys Advantis Ltd, Vice – President – Shamil Mendis – Managing Director, Spear International (Pvt) Ltd, Treasurer – Rohitha Mendis – Managing Director of Prudential Shipping Lines (Pte) Ltd, Immediate Past President – Mahen Kariyawasan – Managing Director, Andrew The Travel Company (Pvt) Ltd, representatives from Amano Lanka Engineering (Pvt) Ltd, BOV Capital (Pvt) Ltd, Brandix Apparel (Pvt) Ltd, Heritage Teas (Pvt) Ltd, Kalhari Enterprises (Pvt) Ltd, Lanka Harness (Pvt) Ltd, Dentsu Grant (Pvt) Ltd, MAC Holdings (Pvt) Ltd, and Vidullanka PLC. By invitation: HVA Foods PLC (subsidiary of George Steuart & Co), Spillburg Holdings (Pvt) Ltd, and Vaughan Chemicals (Pvt) Ltd.

The Sri Lanka – Japan Business Council plays an important role in promoting trade, tourism, and investments between Japan and Sri Lanka. For membership inquiries contact Kiyara at The Ceylon Chamber of Commerce via E-mail: businesscouncils1@chamber.lk or Tel.: 011 5588875/ 5588800.

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Rekawa turns turtle conservation into a 30-year community business model

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Stakeholders at 30th anniversary celebrations of the turtle conservation project.

By Ifham Nizam

What started 30 years ago as an effort to protect sea turtles has evolved into a community-based economic model that has generated livelihoods, attracted tourists and transformed Rekawa into one of Sri Lanka’s best-known nature tourism destinations.

The Rekawa Turtle Conservation Project, launched on September 2, 1996, by the Turtle Conservation Project (TCP) in partnership with the Department of Wildlife Conservation and the Rekawa community, marked its 30th anniversary last week, demonstrating how biodiversity protection can become an economic opportunity for communities living alongside sensitive natural resources.

Speaking at the anniversary celebrations, TCP chairman Thushan Kapurusinghe said the project currently provides direct livelihoods for 28 people, but its economic impact extends considerably beyond those directly employed by the programme.

‘Today, 28 people directly earn their livelihood through this project. But its impact goes far beyond those 28 individuals, Kapurusinghe said.

He pointed to the transformation of the area over the past three decades, arguing that the growth of tourism in the community has been closely linked to the turtle conservation programme.

‘If you travel from Netolpitiya to this area, you can clearly see how much the village has transformed over the years. There is no doubt that the growth of tourism in this community has been driven by the Turtle Conservation Project, he said.

The economic significance of Rekawa lies in its ability to convert the protection of a natural asset into a source of recurring community income.

Tourists do not come to Rekawa merely to see a beach. They come to witness sea turtles emerging from the ocean and nesting in their natural habitat—a tourism experience that depends directly on the continued protection of the nesting beach.

Kapurusinghe said tour operators regularly bring visitors to Rekawa, with some tourists traveling there after visiting major attractions such as the Kandy Esala Perahera.

The model represents a fundamental shift from viewing conservation as an expense to recognising biodiversity as an economic asset that can generate sustainable livelihoods when properly managed.

The 30th anniversary celebration at the Rekawa Turtle Conservation Project Information Centre brought together Southern Wildlife Region Director of the Department of Wildlife Conservation Channa Suraweera, government officials, conservation organisations, community representatives and long-standing supporters of the initiative.

Individuals who had contributed to the project over the past three decades were also recognised with awards for their service to sea turtle and environmental conservation.

Rekawa’s experience has attracted international attention because of precisely this combination of conservation and community development. The project has received international recognition as well as the Green Employment Award from the Ministry of Environment and Natural Resources. Earlier international recognition included a highly commended ‘Tourism for Tomorrow’ award, while the project’s turtle-watch programme subsequently received further recognition in responsible tourism and conservation.

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Ceylinco Life brings premium policyholders closer to the magic of the Kandy Perahera

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For an evening, the timeless spectacle of the Kandy Esala Perahera unfolded at especially close quarters for a select group of Ceylinco Life’s most valued policyholders and their families, who were hosted to an exclusive viewing experience by the Company’s Customer Relations Division.

Held at the Ceylinco Life Kandy Branch on Kings Street, the annual event coincided with the second Randoli Perahera, bringing guests into the heart of one of Sri Lanka’s most spectacular expressions of culture, tradition and pageantry.

As the procession made its majestic passage through the streets of Kandy, guests enjoyed VIP seating at a prime vantage point, allowing them to experience the colour, movement and grandeur of the Perahera up close. The evening offered a fitting setting for Ceylinco Life to celebrate its enduring relationships with its premium clientele.

The experience extended well beyond the spectacle outside. Guests were welcomed with evening refreshments and an exclusive dinner buffet presented by the prestigious Amaya Hills Resort, adding a fine-dining dimension to an already memorable evening.

Families, too, were at the centre of the occasion. A private movie theatre experience provided entertainment for children and adults alike, while each attending family received a beautifully framed family photograph as a personalised souvenir, a tangible reminder of an evening shared together against the backdrop of one of Sri Lanka’s most treasured cultural traditions.

Besides being a much sought-after opportunity to watch the Perahera, the occasion was an expression of appreciation. Through its continuing Customer Relationship Management activities, Ceylinco Life seeks to create experiences that recognise its most valued policyholders not simply as customers, but as relationships to be celebrated and nurtured. And on this particular August evening, the enduring splendour of the Kandy Perahera provided the perfect setting for doing just that.

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