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Saturday, 22 December 2012 00:00 - - {{hitsCtrl.values.hits}}
In recognition of the overseas partners who supported the Sri Lankan economy and economic activity while the nation endured a raging war for nearly three decades, Overseas Realty was honoured with a Global Commerce Excellence Award 2012 at a gala ceremony recently held in Colombo.
The premier realty company was honoured for the large investments it undertook in Sri Lanka when the country was undergoing decades of unrest.
A BOI-approved and flagship status quoted company, Overseas Realty, a trail blazer in the real estate sector has been guided by the company Chairman, the legendary tycoon and visionary property development maestro, Shing Pee Tao.
“Since inception, Overseas Realty was driven to invest in showcase developments,” commented Tao “Today we are the owners, developers and managers of Sri Lanka’s largest developments. We esteem this award in honour as an appreciation for our company’s service and for the unhindered faith we placed in Sri Lanka.”
In 1992, in the midst of a raging war, Overseas Realty commenced work on a US$ 130 million landmark erection, the World Trade Centre, Colombo. The first to offer world class office space in the country, the development symbolised progress in a war scarred nation. The WTC celebrated 15 years of serving the business community of Sri Lanka this year.
As the only intelligent building in the country, the 15-year celebration marked its resilient journey through the country’s economic hardships. Overcoming two bomb attacks which caused severe damage to the towers, the WTC had been able to undisputedly retain its position as the best business address in Sri Lanka, highly significant to the country’s local and foreign business community.
In 2006, with the war at its peak, unhindered by the grim outlook in the country, Overseas Realty invested in Sri Lanka’s largest mixed development. Investing in 18 acres of prime land in Colombo, the company injected US$ 350 million as FDI into the local economy to construct 1,080 luxury condominiums, Sri Lanka’s largest roof garden, and a commercial block comprising the country’s largest shopping mall with two office towers.
The award was received by Mildred Tao Ong, daughter of S.P. Tao, at the award ceremony organised by the Shippers’ Academy, core partnered with the Sri Lanka Ports Authority, BOI of Sri Lanka, and Airport Aviation Services Sri Lanka, in association with the Central Bank.
Central Bank Governor Ajith Nivard Cabraal conferred the award and congratulated the award winners.
