Sri Lanka’s real estate leaders chart 10-year vision at landmark RIUNIT forum

• Industry, Govt. and investor voices converge at Port City Sales Gallery to launch long-term roadmap for Sri Lankan real estate

Sri Lanka’s most influential voices in property, investment, policy and urban development convened at the Port City Sales Gallery on 5 May for “Driving Growth Through Real Estate: 10-Year Plan” – a high-level forum conceptualised and hosted by the Research Intelligence Unit (RIUNIT). The half-day forum, held from 2:30 p.m. to 7 p.m., marked the first in a planned series of sessions under RIUNIT’s ambitious 10-year real estate roadmap for the country.

The event drew a packed room of industry stakeholders, local and international investors, developers, business leaders, bankers and diplomats, all gathered to address one central question: How can Sri Lanka position itself as an international real estate investment destination?

Setting the stage

Opening remarks were delivered by Research Intelligence Unit Founder and CEO Roshan Madawela who shared key insights from RIUNIT’s ongoing research on why Sri Lanka is well positioned to emerge as a leading international real estate investment destination. Drawing on data, market trends and comparative analysis, Madawela framed the day’s discussions around the country’s potential to capture a meaningful share of the estimated $ 1 trillion in global institutional real estate investment expected in 2026. He added that;

“Real estate has proved itself as the asset class of choice, especially during times of volatility and contemporary times are again leading to a surge in international real estate investor interest, including in emerging markets. The challenge of positioning Sri Lanka as a viable investment destination has to be balanced with a more people centric approach to the overall housing issues faced by Sri Lanka, including affordability. The success of a nation cannot be measured by the height of its skyscrapers alone.”

The economic indicators that international investors look for

The first panel examined the macro-economic indicators that international real estate investors scrutinise when evaluating an emerging market like Sri Lanka. Following Madawela’s opening presentation, the discussion brought together leaders representing some of the country’s largest developers and industry bodies including ICC Managing Director Namal Pieris, Prime Group Co-Founder and Group Chairman Premalal Brahmanage, and Home Lands Group of Companies Executive Director Amaya Herath. Amaya touched on the need to better synergise between real estate and other sectors like logistics where there is currently a surge in demand in Sri Lanka. Premalal emphasised the need to better leverage the islands natural blessings as a premium visitor destination while Namal also mentioned that in the current geopolitical environment, several sectors in Sri Lanka may benefit, but still the country needs to take a firm non-aligned stance. 

The Colombo Port City: an emerging magnet for real estate developers

The second panel turned the spotlight on Colombo Port City and its potential to attract a meaningful share of global real estate investment. The session opened with a presentation by Colombo Port City Economic Commission Head of Branding and Communications Dhanya Gunawardana who outlined how Port City is being positioned on the international investment map. The session was moderated by Kahawita De Silva & Associates Ltd., Managing Partner, Chartered Architect and RIUNIT Advisory Board member Nilesh De Silva with audience questions rounding off the session and hosted Capital TRUST Properties Ltd., Chairperson/CEO Minoli Wickramasinghe, RIL Properties PLC CEO/Executive Director Hiroshini Fernando and International Chamber of Commerce Director, a prominent property investor and member of RIUNIT’s Advisory Board Sheanath de Soyza. This session touched on the critical factors that will be needed to establish a high level of confidence in the Port City as well as the feasibility for commercial real estate developments to enter and meet the demand for office space.

A people-centric approach to real estate

The final panel of the afternoon explored a people-first approach to the sector, addressing national policy, affordability, the role of banking and finance, social housing and synergy with other industries. The discussion was moderated by RIUNIT Senior Consultant Dr. Anil Priyanka Baddevithana, Crystal Property Group Ltd., Director/CEO Reza Magdon-Ismail, Board of Investment of Sri Lanka Executive Director – Investment Promotion and Research Priyanka Samaraweera, and Tudawe Brothers CEO and Director Romali Tudawe. The panellists covered a broad range of related topics including insightful remarks by Reza on the synergy that can be achieved with tourism whilst Priyanka shared insights on the incentive that can be used to encourage investment in the affordable segment. Romali further shared her vision of how the suburbs could be developed with mid-rise residential developments that would be ideally to address the current urban challenges. 

The event was sponsored by the International Construction Consortium (ICC), Prime Group and Home Lands Group, the three industry leaders that together account for close to 41% of upcoming residential apartment units in Colombo, alongside the Colombo Port City Economic Commission and CHEC Port City. Their backing, RIUNIT noted, reflects a shared industry consensus that a long-term, structured plan is essential to unlocking the next phase of growth. Fitsair and Basilur Tea also supported RIUNIT to host this event.

A conversation that continues

The afternoon closed with a networking reception over drinks and refreshments, where the conversations on stage spilled into informal exchanges between developers, financiers, regulators, architects and overseas investors. Attendees broadly agreed that the forum had set a constructive tone for what RIUNIT envisions as a sustained, multi-year dialogue, with further stakeholder and investor sessions to follow under the 10-year roadmap. Looking ahead, RIUNIT will publish detailed findings from the forum’s discussions that are expected to outline the need for Government stewardship of the sector as well as renewed efforts to place Sri Lanka firmly on the international investor radar.