{"id":9041,"date":"2020-08-18T15:51:01","date_gmt":"2020-08-18T08:51:01","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9041"},"modified":"2021-06-04T15:07:46","modified_gmt":"2021-06-04T08:07:46","slug":"expat-and-international-investors-reignite-sri-lankas-property-sector","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/expat-and-international-investors-reignite-sri-lankas-property-sector\/","title":{"rendered":"Expat and international investors reignite Sri Lanka\u2019s property sector"},"content":{"rendered":"

As developers\u00a0<\/span><\/span>increased their marketing efforts in the midst of the pandemic<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
View of the Colombo city skyline with modern architecture buildings, including the Lotus Tower. msmsha\/Shutterstock<\/figcaption><\/figure>\n

Since the pandemic<\/span>\u00a0has<\/span>\u00a0<\/span>disrupted business activity in the real estate<\/span>, construction and tourism<\/span>\u00a0sector<\/span>s<\/span>,\u00a0<\/span>Lanka Business Online<\/span><\/a>\u00a0reported that\u00a0<\/span>industry leaders have\u00a0<\/span>ramped up<\/span>\u00a0<\/span>their marketing efforts to reach out to consumers and potential investors<\/span>.\u00a0<\/span>Yet<\/span>,<\/span>\u00a0<\/span>even\u00a0<\/span>before the outbreak<\/span>, a<\/span>nalysts reveal that the\u00a0<\/span>Sri Lanka Easter Attacks in April 2019\u00a0<\/span>have already\u00a0<\/span>drastically affected\u00a0<\/span>sales and enquiries<\/span>\u00a0both locally and internationally<\/span>.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Nevertheless, Lonely Planet\u00a0<\/span>still ranked the island country as\u00a0<\/span>the best place to visit in 2019, stating: \u201cThe country has been upset, but continues to be an incredible place to visit. It still tops our Best in Travel for 2019.\u201d<\/span>\u00a0<\/span><\/p>\n

As Sri Lanka recovers from one disturbance to the next, real estate leaders are confident that they will soon see the light at the end of the tunnel.<\/p>\n

\u201cSince 2009, Colombo 2 real estate value, in particular, had tripled in just five years,\u201d <\/span>said<\/span>\u00a0Rohith Dissanayake, the director of sales and marketing at Capitol TwinPeaks<\/span>.<\/span>\u00a0<\/span><\/p>\n

\u201cFollowing recent incidents, Sri Lanka has faced a considerable decline in interest and sales not just in real estate, but within several industries. However, with the international community, local industry leaders and Sri Lanka authorities banding together to ensure safety and continuity of business, we have begun to see the start of Sri Lanka\u2019s rise, again.\u201d<\/span>\u00a0<\/span><\/p>\n

More: Asia Property Awards (Sri Lanka) winners selflessly devote their time and resources to combat the virus<\/a><\/strong><\/p>\n

As a member of Capitol Developers,<\/span>\u00a0Rohith has been active in helping promote and stabilise consumer sentiment towards Sri Lankan real estate.\u00a0<\/span>In 2018,\u00a0<\/span>Capitol Developers\u00a0<\/span>received the\u00a0<\/span>award for<\/span>\u00a0the Best Condo Interior Design<\/span>, along with one highly commended trophy<\/span>\u00a0<\/span>at the\u00a0<\/span>2nd\u00a0<\/span>PropertyGuru Asia Property Awards (Sri Lanka)<\/span>.<\/span><\/p>\n

To help the industry recover, s<\/span><\/span>everal developers have been offering an array of ultramodern, class\u00a0A to C commercial and residential properties, which reignited the interest of\u00a0international and expat investors and helped regain the industry’s momentum.<\/span><\/span>\u00a0<\/span><\/p>\n

Analysts\u00a0<\/span>expect\u00a0<\/span>th<\/span>e\u00a0<\/span>d<\/span>evelopments<\/span>\u00a0<\/span>located\u00a0<\/span>in the C<\/span>olombo 1 and 2 area<\/span>\u00a0to\u00a0<\/span>generate higher investment returns, especially the properties\u00a0<\/span>near the reclaimed land project or the Port City<\/span>\u00a0that is predicted to produce high rental yields and capital gains.<\/span>\u00a0<\/span><\/p>\n

More: Sri Lanka eyes a revival as the political transition and pandemic cripple the tourism industry<\/strong><\/a><\/p>\n

A<\/span>ward-winning<\/span>\u00a0property Capitol TwinPeaks is classified as a\u00a0<\/span>class A residential property based on international rating as it is located\u00a0<\/span>right next to the Beira Lake in Colombo. As we speak, it\u00a0<\/span>is slowly becoming as one of the fastest-selling condominiums in the island country.<\/span>\u00a0<\/span><\/p>\n

If\u00a0<\/span><\/i>you k<\/span><\/i>now of any\u00a0<\/span><\/i>developers o<\/span><\/i>r real estate projects in\u00a0<\/span><\/i>Sri Lanka\u00a0<\/span><\/i>that deserve to receive our\u00a0<\/span><\/i>prestigious\u00a0<\/span><\/i>awards<\/span><\/i>, particularly during these trying times<\/span><\/i>,<\/span><\/i>\u00a0<\/span><\/i>n<\/span><\/i>ominate them for the\u00a0<\/span><\/i>4th<\/span><\/i>\u00a0<\/span><\/i>Asia\u00a0<\/span><\/i>Property Awards<\/span><\/i>\u00a0(<\/span><\/i>Sri Lanka<\/span><\/i>)<\/span><\/i>\u00a0on or before\u00a0<\/span><\/i>4<\/span><\/i>\u00a0<\/span><\/i>September<\/span><\/i>\u00a02020! Simply visit\u00a0<\/span><\/i>asiapropertyawards.com\/en\/award\/asia-property-awards-sri-lanka\/<\/span><\/a>\u00a0<\/span><\/i>for more details<\/span><\/i>.<\/span><\/i>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As developers increased their marketing efforts in the midst of the pandemic <\/p>\n","protected":false},"author":9,"featured_media":20690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[101,92],"tags":[587,528,120],"class_list":["post-9041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-property-awards","category-news","tag-asia-property-awards-sri-lanka","tag-market-update","tag-sri-lanka","news_country-sri-lanka","news_author-gynen-kyra-toriano"],"acf":[],"yoast_head":"\nExpat and international investors reignite Sri Lanka\u2019s property sector | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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