Enhances Scope for Foreign Investment in Sri Lanka
Home Lands, Sri Lanka’s number one and most trusted innovative developer, has secured an over three-acre premium mixed-use land parcel at Port City Colombo in a landmark transaction valued at USD 40.1 million (approximately LKR 12.5 billion), marking one of the most significant single investments made by a Sri Lankan developer within the country’s most ambitious urban development project.
With this milestone, Port City Colombo joins hands with Home Lands, Sri Lanka’s market leader in real estate, the consecutive three-time ‘Best Developer Sri Lanka’ award winner at the PropertyGuru Asia Property Awards and the distinguished Superbrands status holder, reinforcing the presence of globally recognised local excellence within the rapidly evolving Special Economic Zone. The acquisition reflects Home Lands’ financial strength and long-term confidence in Sri Lanka’s future, as the company stands as the only single Sri Lankan developer to undertake such a significant and independent investment at Port City Colombo, without entering into a joint venture or foreign partnership. The move underscores the Group’s robust capital position and institutional resilience both locally and internationally.
The land reservation will pave the way for a USD 300 million mixed-use ultra-luxury development comprising twin 40-storey towers with over 600 exclusive units. Envisioned as a resort-style vertical sanctuary inspired by a forest concept, the project will integrate architecture, greenery, and lifestyle elements to create a distinctive living environment within Colombo’s emerging global financial district. Widely recognised as the pioneer of resort-style living concepts in Sri Lanka, Home Lands continues to elevate experiential residential design to new heights through this landmark development.
Strategically located within the Central Park District of Port City Colombo, the site enjoys one of the most enviable settings in the master plan. The development opens onto nearly 40 acres of lush central parkland, connects seamlessly with the Port City Colombo waterway network, and commands uninterrupted views of the Indian Ocean, including clear sunset vistas and direct beach access. This rare convergence of oceanfront, parkland, and urban vibrancy positions the project as a future icon within Colombo’s skyline.
Commenting on the investment, Mr. Nalin Herath, Chairman of Home Lands Group said: “This investment represents far more than a land acquisition; it is a statement of confidence in Sri Lanka’s future and in the strength of our own capabilities as a homegrown developer. We made a deliberate decision to undertake this project independently because we firmly believe that Sri Lankan companies have the financial strength, expertise, and vision to deliver developments of global scale. Port City Colombo is a transformative national initiative, and Home Lands is proud to contribute to it with a landmark development that will redefine luxury living and set new benchmarks for the region.”
Port City Colombo, designated as Sri Lanka’s first foreign currency-denominated Special Economic Zone, continues to attract strategic investments that enhance its positioning as a regional business and lifestyle hub. With infrastructure delivered to international standards, the project has established the physical and regulatory foundations required for private sector-led development.
“The foundation of Port City Colombo has always been about creating certainty; in land, infrastructure, and governance. As the primary developer, our responsibility has been to deliver that foundation to international standards and safeguard the long-term integrity of the master plan. With these fundamentals now firmly in place, we are seeing serious long-term investors step forward. Home Lands’ decision to take this step independently, as one of the most reputed local developers, is both significant and encouraging for the next phase of developing this city, and reflects the project’s growing maturity and long-term economic relevance,” said Mr. Xiong Hongfeng, Managing Director, CHEC Port City Colombo (Pvt) Ltd.
With this milestone acquisition, Home Lands further cements its role as Sri Lanka’s leading homegrown developer, bringing award-winning expertise, financial strength, and visionary design to one of South Asia’s most ambitious urban transformations. The twin-tower development is set to redefine Colombo’s skyline and stand as a powerful symbol of confidence, innovation, and national progress.
