With IPO ahead, Prime Lands Residencies completes milestone of 35 unique properties

Friday, 9 April 2021 00:00 - - {{hitsCtrl.values.hits}}

Prime Group Chairman Premalal Brahamanage

Co-Chairperson Sandamini Rukmal Perera

Prime Lands Residencies Ltd., the condominium property arm of the maestro of real estate artistry in Sri Lanka, Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project.

With five more projects nearing completion and another five awaiting launch, the completion and handing over of 35 properties to anticipating residents has established Prime Lands Residencies as the benchmark condominium developer in the country.

Prime Lands Residencies’ commitment to constructing best-in-class residential units plays a key role in filling the 100,000 units per annum housing gap, while also significantly contributing to the country’s economy. These large scale developments have been a driving force for economic growth as investments on condominiums have generated historical returns of 17% ROI and 5% - 9% rental yield, according to KPMG International. The affordability of developments from Prime Lands Residencies enables many Sri Lankans to capitalise on the favourable property market conditions. As the developer looks towards the future, Prime Lands Residencies has understood that their success over the years has been guided by a far-sighted strategic vision and single-minded commitment towards professionalism.

While 35 completed units is a milestone to be beaten, the firm is expected to make their Initial Public Offering (IPO) in the near future. This development will certainly ensure that the firm continues to grow from strength to strength, with a commitment to bring the best value to all their stakeholders, ensuring their satisfaction is parallel to the growth of Prime Lands Residencies and the Prime Group.