REMDOX Lanka Pvt. Ltd. focus on Real Estate Developments in Colombo

In News | on 07.02.12 | by | Comments ( 0 )

Translating Economic Growth into Real Developments in Colombo, is an in-depth analysis of the factors that are making Sri Lanka one of the most dynamic new real estate markets in Asia Pacific.

Remdox – Highlights:
• Investment grade office stock in Colombo is expected to multiply 2.4 times in the next 4-5 years. The IT/ITES sector is expected to generate additional demand of 7 million square feet of office space between 2012-2015.
• Colombo has limited options in 'experience retailing' with major shopping malls constructed nearly a decade ago. At least two to three large, fully facilitated shopping malls are to be constructed in Colombo in the next 4-5 years.
• Villas and plotted developments to be pushed even further out of the city centre as land becomes more expensive and to be replaced by residential towers in various city locations.
• Rising land prices in central Colombo will cause leapfrogging of real estate developments. Developers are advised to explore integrated IT parks with office, retail and residential developments in suburban locations.
• The expected surge in tourism will require a near doubling of hospitality infrastructure in the coming years. 22,500-25,500 hotel rooms or 375-425 hotels need to be constructed during the next five years to meet the projected annual demand from tourists.
"REMDOX confirms Sri Lanka as an attractive and emerging investment destination in the Asia-Pacific region; these are the factors that led to our decision to enter this booming real estate market”, said Samuel Clark, CBDO – REMDOX Asia Pacific group. “Sri Lanka is an extremely promising market for organized commercial, residential and retail real estate services. The country has been on a strong growth trajectory since the re-establishment of political stability."
REMDOX Lanka Pvt. Ltd. has been working in close conjunction with key stakeholders in the Sri Lanka property market since 2009, through its operations in India. By establishing its presence in Colombo, the firm is now focus on exact real estate development projects in hotel development, residential and commercial sector, infrastructure and new technologies with international partners, focus on Sri Lanka. Together, for better Sri Lanka.

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