Business

Top real estate developers identified in new RIU brand heath survey

Published

5 years ago

2021/07/30

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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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

12 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

12 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

12 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.