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Leading property portal Lamudi backs Sri Lanka’s capital city for commercial property
Five years after
the end of the Sri Lankan civil war, Colombo has been transformed into one of
South Asia’s hotspots for property investors.
With
nearly a million inhabitants and a per capita income of more than $5358 USD,
the city now has an impressive GDP of $5 billion USD, making it one of the
richest cities in the region.
Global property
portal Lamudi.lk
has this week named Colombo as the country’s top location for those looking to
buy commercial property. In light of the city’s incredible economic performance
in recent years, Lamudi’s team of real estate experts have compiled five
reasons why those looking to start a business should focus their attention on
Colombo.
1. The city has a booming population. Population
density of more than 17,344 inhabitants per square kilometer is a definite
advantage for any investor. The high population density will ensure that your
business will have an optimal daily customer exposure, which in term may lead
to increased sales.
2. Infrastructure is improving dramatically. Even though roads in Sri Lanka may not
have a good reputation, this is not an issue within Colombo. Investors have a
good foundation to start their business, with the development of highways
connecting the city with major metropolitan areas across the country combined,
plus well-maintained railroads and reliable power and water supplies within the
city.
3. A wide range of commercial properties
are on the market. Recent land development projects carried out by the Urban
Development Authority of Sri Lanka - as well as the construction of mega office
apartments such as the WTC twin towers - mean there is a wide range of
commercial real estate assets for any new investor who seeks to establish their
business in Colombo.
4. The government is backing local
businesses. The trend to support local businesses through tax incentives
has encouraged many investors to seek opportunities not only within Colombo,
but also throughout the island.
5. It is close to the harbour and the
airport. Being a port city within a few hours’ drive of the airport,
Colombo is easily connected to the world. This location will reduce your costs
and transport time, which can be crucial for most small to medium scale
businesses.
ABOUT LAMUDI
Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 500,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.
ABOUT ASIA PACIFIC INTERNET GROUP (APIG)
The Asia
Pacific Internet Group (APIG) supports some of the leading internet companies
in the region. Founded by Rocket Internet in 2014, the APIG's mission is to
promote innovation and entrepreneurship throughout Asia and the Pacific, as
well as to support the development of a vibrant online culture. APIG's network
currently consists of 10 companies, operating in 15 countries.
Tags
Sri Lanka Business