Business
TRI-ZEN celebrates topping off ceremony
In another major milestone for Sri Lanka’s premier real-estate developer, John Keells Properties (JKP) celebrated the completion of the structural work for all three towers of its highly anticipated TRI-ZEN smart residences with a special ‘Topping Off’ ceremony.
The event was marked with a private ceremony attended by the senior management of John Keells Properties including John Keells Holdings Chairman Krishan Balendra, together with representatives from the development’s joint venture partner, Indra Traders (Pvt) Ltd and the contractor, China State Construction Engineering Corporation Ltd.
“We take this opportunity to congratulate our teams for their tireless efforts in keeping construction on TRI-ZEN moving at a steady pace despite facing often unprecedented challenges owing to the pandemic. With this milestone, we are now moving into the final phases of construction, and we look forward to handing over the apartments to our customers in 2023.,” TRI-ZEN Development Manager Lumbini Pathirage said.
A tradition among builders across the globe, the topping off ceremony marks the placement of the last structural element at the final roof height and celebrates the accomplishment of the structural construction crews and the transition to interior construction.
Enhancing Colombo’s skyline with three towers of 52, 54, and 52 floors respectively, TRI-ZEN will comprise a total of 891 smart apartment units. Featuring over 35 amenities, including two swimming pools, opulent function rooms, two Gymnasiums, a rooftop badminton court, a café and a minimart, TRI-ZEN is designed to offer residents the pinnacle in modern, cosmopolitan, smart living.
“Achieving this milestone on target, despite the unprecedented challenges our country has faced in the last 3 years, is a remarkable achievement. It is testament to the absolute grit, determination and professionalism of our incredible team and the strength and stability of John Keells Properties” said Nayana Mawilmada, President of the Property Group. “We set out on this project with the aim of redefining the entire concept of urban living in Sri Lanka. The record sales we have seen on TRI-ZEN shows that this vision is embraced by both investors and homebuyers alike. In volatile economic times, real estate is perhaps the most attractive and stable asset class to invest in. The unique value proposition and concept of TRI-ZEN, its unbeatable location right in the centre of Colombo, and the unmatched reliability and execution capacity of john Keells Properties truly sets this project apart from the rest” he added.
Located in the heart of the city at Union Place, each unit at TRI-ZEN will incorporate cutting-edge design principles to deliver unmatched convenience and comfort, in addition to over an acre of community space
Each of the residential buildings will feature a mix of one, two, and three bedroomed units, with two-bedroomed apartments starting from Rs. 37 million. Each apartment is furnished with a range of world-class smart home technologies and design elements, allowing residents to live in an affluent and modern environment.
The industry leader in property development and management, John Keells Properties is renowned for its contribution to the city’s transforming skyline and lifestyle. For more information, visit the TRI-ZEN website.
The total outstanding market liquidity surplus or excess funds available in Sri Lanka’s banking system for lending and transactions declined by Rs. 36.65 billion in a week, according to the Central Bank’s latest economic indicators report.
An economic researcher analysing the data noted: “Treasury bill and bond auctions likely drained liquidity. If this tightening persists, short-term interest rates could rise, raising borrowing costs and potentially slowing economic growth. The situation warrants close monitoring, especially as the manufacturing sector is already facing a slowdown whether due to seasonal or structural factors.”
The report also highlighted the following developments in Sri Lanka’s economy:
Fiscal improvements: The deficit has narrowed but remains elevated.
Sectoral trends: The stock market rallied, and the services sector showed slower expansion (tourism, retail and IT driving resilience).
Total expenditure and net lending increased to Rs. 1,301.9 bn during the three months ending March 2025 compared to Rs. 1,197.5 bn in the corresponding period of 2024.
During the three months ending March 2025, the overall budget deficit decreased to Rs. 234.5 bn compared to Rs. 281.3 bn recorded in the corresponding period of 2024
The rupee value of T-Bills and T-Bonds held by foreign investors decreased by 2 per cent in comparison to the previous week.
“The April 2025 industrial slowdown points to weaker output, likely due to seasonal factors such as holidays or subdued demand. However, this was partially offset by an expansion in the Services PMI, offering some relief. The broader economic outlook for Sri Lanka remains uncertain, as these mixed signals unfold as Sri Lanka would receive a tariff letter from the US in the coming weeks. With market liquidity already tightening due to government borrowings from the banking system, policymakers face mounting challenges in balancing growth and stability,” the economic researcher noted.
By Sanath Nanayakkare
AIA Sri Lanka’s ‘Pawfect Match’ campaign, in partnership with animal welfare groups, inspired 500+ adoptions of stray pets. The initiative highlighted adoption, responsible ownership, and compassion, tackling Sri Lanka’s stray animal crisis. AIA thanks all supporters for their life-changing impact.
The campaign served as a reminder that even small acts of kindness like adopting a stray can make a big impact. It also provided an opportunity for the public to learn more about responsible pet ownership, animal rights, and the importance of compassion toward all creatures.
Calton Sweet House Pvt. Ltd., a key part of Calton Group, was honored as the Best National Industry Brand in the Medium-Scale Food and Beverage Sector at the National Industry Brand Excellence Awards 2024, organized by the Industrial Development Board. Deshamanya Mahesh De Silva, Director of Finance and IT at Calton Group, accepted the award.
Established in 1991, Calton Sweet House has over 30 years of excellence, specializing in cakes, snacks, and frozen bakery items, with 20+ outlets across Negombo, Katunayake, and Colombo, including at Bandaranaike International Airport. The company holds ISO, HACCP, and GMP certifications, ensuring top-quality standards.
Starting as a small store in 1983, Calton Group now employs 300+ staff and operates multiple businesses, including Calton Hyper Market and Calton Catering, while partnering with global brands like Unilever and Upfield. The group remains committed to serving customers with high-quality, safely packaged food products.
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