Prime and Melwa have emerged as the leading property investor in Port City Colombo after acquiring their third highly sought-after land parcel in the Marina Area. This latest purchase brings their total holdings to approximately 16 acres, solidifying their position as the largest property investor in the region.
This acquisition represents a significant strategic move for Prime and Melwa, aligning with their shared goal of enhancing Sri Lankan real estate to meet international benchmarks and promoting it on a global scale.
The Marina District is recognized as one of the most prestigious and desirable locations within Port City and Sri Lanka as a whole, characterized by high demand, premium status, and rapid value appreciation. Properties along the marina are among the most exclusive and coveted in luxury real estate globally, especially in renowned financial and lifestyle hubs.
The partnership’s focus on the Marina District is a calculated strategy, given that it comprises only about 1% of the total area of Port City, making it uniquely limited and exclusive. Additionally, this district is expected to be completed within five years, significantly ahead of other developments in the area.
The recently acquired land will be transformed into a mixed-use development, further enhancing the partnership’s footprint in what is rapidly becoming Sri Lanka’s premier marina and waterfront locale. This investment reflects both companies’ confidence in the long-term potential of the country and Port City’s emergence as a significant player in the international real estate market.
Premalal Brahmanage, Chairman of Prime Group, commented on the acquisition, stating, “Becoming the largest investor in Port City Colombo is a remarkable achievement that demonstrates our faith in Sri Lanka’s future and the vast potential of this transformative project. With the Marina District poised to develop into a world-class waterfront destination, our goal is to showcase Sri Lanka, Port City Colombo, and Sri Lankan real estate on the global stage, delivering iconic developments that highlight the best of what Sri Lanka has to offer.”
The partnership’s inaugural project, Prime Marina, has already shown considerable success. Its grand launch on June 10 marked an unprecedented event for Sri Lanka, followed by record-breaking sales that indicate strong interest from both local and international buyers in Prime and Melwa’s offerings.
With three key land acquisitions secured, Prime and Melwa have positioned themselves at the leading edge of Port City’s development, establishing themselves as a significant player in Sri Lanka’s real estate sector and contributing to Colombo’s emergence as a growing destination for global property investment.
Photo caption from left to right – Xiong Hongfeng – Managing Director of CHEC Port City Colombo (Pvt) Ltd., Sandamini Perera Co-Chairperson Prime Group, Premalal Brahmanage Chairman Prime Group, Anandaraja Pillai Director Melwa.
Financial Chronicle Biz English | Sri Lanka Business News.
