2. Road Map
Executive summary
Introduction
Key Investor Consideration
Company Overview
Introduction
Property Development and Project
Locations
Management
Organizational Structure
3. Executive Summary
Introduction
● After decades, Sri Lanka has becoming a thriving growing economy with renewed interest in infrastructural development
projects and tourism propelled by the post war optimism and the trend on foreign direct investment. Tourist arrivals rising by
133% from 2010 to 2014 with more than 1.5 million tourists visiting the country and there has also been a significant drive in
the economic urban migration with the local population.
● A substantial amount of foreign investment is directed towards the service sector were nearly 60%, compared its
manufacturing sector which is 17% of the industry. The GDP From Services in Sri Lanka increased to 1562677 LKR Million in
the first quarter of 2016 from 550678 LKR Million in the fourth quarter of 2015 and the Manufacturing sector has taken a back
seat in economic activities due to the uncertainty in rising input cost and increasing wages.
● Colombo districts is where the skyscrapers are on the rise from mostly luxury and mid range property development. The
average price range for housing can be identified in each categories as High-end apartments range from Rs. 30 million/
$222,000 to Rs. 550 million/ $4,074,075. High-end houses range from Rs. 40 million/ $296,300 to over Rs. 1.2 billion. A mid-
range home, with two to three bedrooms, in the Colombo district, would range from Rs. 10 million/ $74,075 to Rs. 30 million /
$222,222 on average. With the average rise in prices in luxury real estate and combined location in the city center has created
attractive opportunities for investors.
● Sri Lanka new political path since 2015, there has been a favorable change in the political regulations in the real estate
industry and foreign investment. in mid-November 2015, Sri Lanka’s Finance Minister announced plans to remove the 15
percent land leasing tax for foreign investors, and reduce the approval period for foreign direct investment requests. The
removal of land lease tax for foreigners is forecast to boost international investment into Sri Lanka’s real estate sector. While
previous laws banned foreigners from owning property and stated real estate leased to non-nationals was subject to 100
percent tax, the new government proposed the removal of this lease tax for non-nationals.
4. Key Investor Consideration
● Market Valuation at Billion LKRs
● Foreign Direct Investment
● Real Estate - Pettah Development Project
● Property Development
● Colombo Land and Development Company PLC
5. Company Overview
Introduction
The company was incorporated in 1981 as a joint venture between Clarisssa Private Ltd of Singapore and
UDA to undertake urban development activities in Sri Lanka.
Company was listed in 1982
Colombo Land and Development Company PLC is a real estate development company engaged in
leasing out investment property under operating leases and the development of investment properties in
Sri Lanka.
The basic understanding was that CLDC would raise funds using the international connections of the
Singaporean partner and undertake various development projects while the UDA contribution was to be
the land allocated for the projects.
6. Executives
During the last 30 years the ownership of the company has gone through significant changes and today
CLDC is a truly public listed company with a highly diverse ownership. A professional board of directors
manages the company. Currently the executives are;
Chairman: Deheragoda C.K.M.
Chief Executive Officer: Premawardhana V. (Executive Director)
Chief Operating Officer: Jayadeva D.
Board of Directors:
Tong N.Y., Xing N.Y., Jayaweera D.S., Goonatilake M.D.S., Ameresekere S.A. (Alternate Director to Mr.
M.D.S. Goonatilake), Fernando R.M.S. (Non-Executive Director), Welegama W. M. C. S. (Non-Executive
Director), Clement Ng. H. C (Alternate Director to Mr. Ng. Y. Xing)
7. Pettah Development Project
Liberty Plaza goes “grand”
Sri Lanka’s first high-class shopping mall, Liberty Plaza at Kollupitiya strategically location in the heart of
the city.
Liberty Arcade is 70,000 square feet of shopping and work complex to the already existing 100,000
square feet at Liberty Plaza.
The current footfall is around 2,000 per day. With car park deck for 380.
Liberty Plaza becomes important for tourists for having the right combination of products that Sri Lanka
has to offer; gems, batik, and tea are items they will like to take back. And provide more retail space
for top international products.
CEO Premawardhana said: “With the Liberty Plaza complex being revamped, its refurbishment nearing
completion and the surrounding hotels coming into play soon, I am quite optimistic about the future
of this iconic mixed development space.”
8. Location
● Center of Colombo tourist influx
● Surrounded with Hotels
○ The Kingsbery, The Galle
Face Hotel, Cinnamon
Grand Colombo and Taj
Samudra
● Center of the Business
10. Future Development Projects
Liberty Towers and Retail Mall
Twin tower service apartments at Colombo 03.
240 apartments on 21 floors. Mixed units of 1 bedroom apartments, 2 bedroom apartments, 3 bedroom
apartments and penthouse.
City view and ocean view
The living spaces would have all the amenities of a modern apartment complex and Mixed development
project including retail, office space, entertainment (cinema halls and food court) and apartments
(targeted at working staff of Pettah traders), parking space of four floors Sky lounge on the top floor. Front
and rear entrance together with lifts and stairways for all commercial units, Swimming pool.
Cost USD 70 Mn
11. Pettah Commercial Development
49 commercial sites would be built facing the city streets
Each site would be on a typical plot of 6 meters width and a length of 20 meters. On each site would be a
building of four to five stories and a semi basement accessed from a back lane
A central parking podium would consist of 3 stories and a semi basement which would house additional
parking. In the next phase this podium site would be developed as a commercial site of a larger scale,
such as a retail mall.
