Prime and Melwa secure direct Marina-front land at Port City Colombo

Prime Group Chairman  Premalal Brahmanage	Prime Lands Residencies  Chief Marketing Officer  Yamuna Jayaratne

In real estate, value is defined by scarcity and positioning. Within Port City Colombo, direct marina-front land represents the most limited and strategically significant category of property available today.

For investors, the distinction between marina-front and standard residential land within Port City is fundamental.

The Company said Marina-Front Real Estate offers stronger investment fundamentals. Among them are Fixed and limited supply – No additional marina frontage can be created. Supply is permanently capped; Oversupply protection – Inland and mixed-use parcels can be developed in volume; marina-front cannot; Premium demand concentration – Waterfront locations consistently attract the highest-value buyer segment; Stronger capital growth potential – Scarcity combined with demand historically supports higher appreciation rates; Higher rental benchmarks – Marina-facing residences typically command premium rents relative to inland units; International tenant profile – Integration into a global yachting ecosystem attracts high-net-worth, globally mobile residents and Long-term pricing resilience – Limited frontage reduces exposure to price compression during market cycles.

This is not simply waterfront property. It is direct marina-front real estate — positioned within a functioning luxury marina environment where activity, prestige and international connectivity reinforce long-term value.

Port City comprises multiple residential and mixed-use land parcels that will gradually enter the market. As supply increases across these categories, competition is expected to intensify. With broader inventory available inland, price growth in those segments may moderate over time, and rental yields may face competitive pressure.

Marina-front assets, by contrast, are structurally insulated from these broader supply dynamics due to their constrained frontage.

Prime Group Chairman and Executive Director Premalal Brahmanage said: “Marina-front land is the highest tier within Port City. It is finite, strategically located and internationally relevant. With over 70 completed developments and benchmark projects such as Grand Ward Place, we have demonstrated our ability to deliver at the highest level. Our collaboration with Melwa further strengthens our execution capability and reflects our long-term confidence in Port City Colombo. We are committed to creating exceptional value for our end buyers.”

Beyond investment fundamentals, the lifestyle dimension reinforces demand. The planned development will feature direct marina orientation, curated yacht access for homeowners, and a signature rooftop infinity pool overlooking both the marina and the Colombo skyline. As the 250-berth luxury marina becomes fully operational, the surrounding district is expected to emerge as one of the most vibrant and internationally recognised addresses within Port City.

Prime Lands Residencies PLC Chief Marketing Officer Yamuna Jayaratne said that the Marina district is likely to define the premium narrative of Port City in the years ahead. She emphasised that the combination of finite waterfront supply, international marina integration and proven delivery capability creates a compelling long-term value proposition for both investors and end users.

As Port City Colombo matures, developments directly facing the marina are poised to become defining addresses within its evolving skyline.

Prime Group, one of Sri Lanka’s most established real estate developers and the country’s largest fully Sri Lankan-owned listed real estate company, has completed over 70 developments across the island and played a defining role in shaping modern residential real estate. The Group has secured the direct marina-front land parcel within Port City Colombo in collaboration with Melwa, one of Sri Lanka’s leading industrial conglomerates.

Founded in 2002, Melwa has grown from a steel manufacturing operation into a diversified enterprise spanning construction materials, pharmaceuticals, hospitality, tea exports and global trade, employing more than 2,500 people and supporting major infrastructure development across the country.

The collaboration between Prime and Melwa brings together two established Sri Lankan industry leaders, combining Prime’s development expertise and proven delivery record with Melwa’s industrial strength and construction capability to support the execution of one of the most significant marina-front residential developments within Port City Colombo.