Home Lands Group buys 1 acre land in Thummulla for record Rs. 4.5 b

Monday, 7 July 2025 06:01 - - {{hitsCtrl.values.hits}}

Says deal at Rs. 29 m per perch is largest land transaction in Colombo

The Home Lands Group has announced the successful conclusion of the acquisition of a nearly 1 acre land in Thummulla at a record Rs. 29 million per perch, the highest-ever amount paid per perch in the history of Colombo.

“This record land purchase investment exceeding Rs. 4.5 billion is the largest land transaction in Colombo,” the company said in a statement.

Making yet another power move, Home Lands unveiled its latest Colombo City High-Rise Mega Project, Pentara Residencies, Thummulla Handiya – The Address in Colombo, which is a 40-storey twin tower residential complex that will be constructed at the recently acquired property in Thummulla, marking the country’s largest single investment by a single Sri Lankan developer in a residential high-rise apartment complex.

The twin tower residential complex by Homelands is a Board of Investment (BOI) project funded by Hatton National Bank (HNB).