The real estate sector owns and manages a total built up area of approximately 240,000 sq. ft. comprising prime office and stores space in Colombo City, as well as a land bank, 9.5 acres in extent, located in the suburbs of Colombo. The property portfolio is valued at Rs.2.6 bn. The asset base and market value appreciation of the real estate sector has contributed to enhancing the net worth of the Group. This sector recently ventured into the property development business and made several new investments in acquiring suburban properties with potential for future development. The sector has set in motion development projects in the housing and condominium segments.

We believe the real estate sector has high growth potential due to the increasing demand witnessed in the housing market and our undeveloped land bank of 9 acres (approximately) will provide us a better footing to exploit the opportunities offered by the market.